Subtext

Chevron Corporation CVX

SectorEnergy
Transcripts73
Date range2007-04-27 – 2025-05-02
Calls charted73

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-13-6+0+6+132007 Q12009 Q32012 Q12014 Q32017 Q12019 Q32022 Q12024 Q32007 Q1 · Overall: -0.42007 Q2 · Overall: -6.92007 Q3 · Overall: -4.62007 Q4 · Overall: -2.92008 Q1 · Overall: -6.12008 Q2 · Overall: -7.62008 Q3 · Overall: -1.32008 Q4 · Overall: +1.12009 Q1 · Overall: -1.12009 Q2 · Overall: +2.92009 Q3 · Overall: -1.32009 Q4 · Overall: +2.12010 Q1 · Overall: +6.92010 Q2 · Overall: +3.12010 Q3 · Overall: +6.02010 Q4 · Overall: +5.72011 Q1 · Overall: +3.32011 Q2 · Overall: +9.42011 Q3 · Overall: +7.92011 Q4 · Overall: +0.92012 Q1 · Overall: +2.02012 Q2 · Overall: +6.52012 Q3 · Overall: +1.32012 Q4 · Overall: +3.92013 Q1 · Overall: +7.32013 Q2 · Overall: +6.72013 Q3 · Overall: -1.82013 Q4 · Overall: +4.02014 Q1 · Overall: -0.42014 Q2 · Overall: +4.52014 Q3 · Overall: +7.22014 Q4 · Overall: +0.32015 Q1 · Overall: +1.72015 Q2 · Overall: +0.52015 Q3 · Overall: +4.62015 Q4 · Overall: +2.12016 Q1 · Overall: +8.02016 Q2 · Overall: +8.12016 Q3 · Overall: +6.42016 Q4 · Overall: +10.52017 Q1 · Overall: +5.02017 Q2 · Overall: +9.42017 Q3 · Overall: +5.92017 Q4 · Overall: +11.02018 Q1 · Overall: +2.12018 Q2 · Overall: +5.72018 Q3 · Overall: +4.62018 Q4 · Overall: +7.72019 Q1 · Overall: +3.32019 Q2 · Overall: +1.32019 Q3 · Overall: +5.42019 Q4 · Overall: +5.52020 Q1 · Overall: -7.82020 Q2 · Overall: -0.42020 Q3 · Overall: +8.02020 Q4 · Overall: +0.52021 Q1 · Overall: +3.02021 Q2 · Overall: +9.62021 Q3 · Overall: +5.12021 Q4 · Overall: +1.92022 Q1 · Overall: -0.42022 Q2 · Overall: +9.52022 Q3 · Overall: +1.42022 Q4 · Overall: +2.82023 Q1 · Overall: +2.32023 Q2 · Overall: +3.02023 Q3 · Overall: -0.22023 Q4 · Overall: +6.62024 Q1 · Overall: +7.62024 Q2 · Overall: +8.42024 Q3 · Overall: +10.02024 Q4 · Overall: +10.32025 Q1 · Overall: +8.5
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-21-10+0+10+212007 Q12009 Q32012 Q12014 Q32017 Q12019 Q32022 Q12024 Q32019 Q4 · CEO: +10.82020 Q4 · CEO: +5.22021 Q4 · CEO: +15.32022 Q1 · CEO: +4.72022 Q3 · CEO: +7.32022 Q4 · CEO: +6.12023 Q1 · CEO: +4.52023 Q4 · CEO: +12.22024 Q1 · CEO: +17.82024 Q2 · CEO: +15.52024 Q4 · CEO: +17.52025 Q1 · CEO: +15.02007 Q2 · CFO: +5.62007 Q4 · CFO: -4.62008 Q4 · CFO: +1.72009 Q4 · CFO: -3.62010 Q4 · CFO: +5.32011 Q4 · CFO: -1.12012 Q4 · CFO: +7.82013 Q4 · CFO: +6.92014 Q4 · CFO: -2.32015 Q3 · CFO: -3.62015 Q4 · CFO: +0.02016 Q4 · CFO: -3.22017 Q3 · CFO: +3.92017 Q4 · CFO: +2.42018 Q4 · CFO: +8.22019 Q1 · CFO: +2.92019 Q2 · CFO: +12.52019 Q3 · CFO: +3.62019 Q4 · CFO: -2.32020 Q1 · CFO: -2.22020 Q2 · CFO: -5.02020 Q3 · CFO: +8.72020 Q4 · CFO: -4.62021 Q1 · CFO: +7.62021 Q2 · CFO: +14.92021 Q3 · CFO: +8.92021 Q4 · CFO: -2.32022 Q1 · CFO: -2.62022 Q2 · CFO: +8.82022 Q3 · CFO: +4.02022 Q4 · CFO: +4.12023 Q1 · CFO: +4.72023 Q2 · CFO: +7.32023 Q3 · CFO: +0.32023 Q4 · CFO: -0.52024 Q1 · CFO: +7.02024 Q2 · CFO: +10.92024 Q3 · CFO: +14.22024 Q4 · CFO: +6.62025 Q1 · CFO: +13.4
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-27-13+0+13+272007 Q12009 Q32012 Q12014 Q32017 Q12019 Q32022 Q12024 Q32007 Q1 · Prepared remarks: -6.32007 Q2 · Prepared remarks: +2.12007 Q3 · Prepared remarks: +0.62007 Q4 · Prepared remarks: -4.52008 Q1 · Prepared remarks: -4.12008 Q2 · Prepared remarks: -12.82008 Q3 · Prepared remarks: -2.42008 Q4 · Prepared remarks: +2.12009 Q1 · Prepared remarks: +0.92009 Q2 · Prepared remarks: +4.12009 Q3 · Prepared remarks: +6.82009 Q4 · Prepared remarks: +4.62010 Q1 · Prepared remarks: +16.52010 Q2 · Prepared remarks: +8.02010 Q3 · Prepared remarks: +6.72010 Q4 · Prepared remarks: +11.22011 Q1 · Prepared remarks: +9.22011 Q2 · Prepared remarks: +16.12011 Q3 · Prepared remarks: +18.32011 Q4 · Prepared remarks: +0.42012 Q1 · Prepared remarks: +9.72012 Q2 · Prepared remarks: +11.62012 Q3 · Prepared remarks: +0.92012 Q4 · Prepared remarks: +11.82013 Q1 · Prepared remarks: +12.22013 Q2 · Prepared remarks: +9.62013 Q3 · Prepared remarks: +4.02013 Q4 · Prepared remarks: +6.32014 Q1 · Prepared remarks: +1.22014 Q2 · Prepared remarks: +7.92014 Q3 · Prepared remarks: +12.92014 Q4 · Prepared remarks: +1.62015 Q1 · Prepared remarks: +2.32015 Q2 · Prepared remarks: -0.92015 Q3 · Prepared remarks: +3.52015 Q4 · Prepared remarks: +3.92016 Q1 · Prepared remarks: +6.92016 Q2 · Prepared remarks: +11.32016 Q3 · Prepared remarks: +10.72016 Q4 · Prepared remarks: +13.92017 Q1 · Prepared remarks: +11.82017 Q2 · Prepared remarks: +13.62017 Q3 · Prepared remarks: +3.32017 Q4 · Prepared remarks: +16.22018 Q1 · Prepared remarks: +8.22018 Q2 · Prepared remarks: +10.42018 Q3 · Prepared remarks: +8.92018 Q4 · Prepared remarks: +14.32019 Q1 · Prepared remarks: +18.82019 Q2 · Prepared remarks: +4.72019 Q3 · Prepared remarks: +0.92019 Q4 · Prepared remarks: +6.62020 Q1 · Prepared remarks: -6.32020 Q2 · Prepared remarks: -3.52020 Q3 · Prepared remarks: +7.12020 Q4 · Prepared remarks: -1.32021 Q1 · Prepared remarks: +5.02021 Q2 · Prepared remarks: +12.92021 Q3 · Prepared remarks: +16.62021 Q4 · Prepared remarks: +4.42022 Q1 · Prepared remarks: -10.32022 Q2 · Prepared remarks: +7.52022 Q3 · Prepared remarks: +1.42022 Q4 · Prepared remarks: +6.12023 Q1 · Prepared remarks: +13.32023 Q2 · Prepared remarks: +10.32023 Q3 · Prepared remarks: -2.92023 Q4 · Prepared remarks: +15.52024 Q1 · Prepared remarks: +5.12024 Q2 · Prepared remarks: +14.72024 Q3 · Prepared remarks: +17.82024 Q4 · Prepared remarks: +23.32025 Q1 · Prepared remarks: +16.12007 Q1 · Q&A responses: +9.62007 Q2 · Q&A responses: -2.42007 Q3 · Q&A responses: -4.22007 Q4 · Q&A responses: -0.32008 Q1 · Q&A responses: -7.82008 Q2 · Q&A responses: -4.22008 Q3 · Q&A responses: +7.22008 Q4 · Q&A responses: +5.42009 Q1 · Q&A responses: +1.22009 Q2 · Q&A responses: +5.12009 Q3 · Q&A responses: -3.42009 Q4 · Q&A responses: +4.62010 Q1 · Q&A responses: +8.52010 Q2 · Q&A responses: +10.02010 Q3 · Q&A responses: +10.32010 Q4 · Q&A responses: +9.72011 Q1 · Q&A responses: +2.62011 Q2 · Q&A responses: +13.02011 Q3 · Q&A responses: +6.22011 Q4 · Q&A responses: +3.12012 Q1 · Q&A responses: +2.62012 Q2 · Q&A responses: +9.42012 Q3 · Q&A responses: +3.02012 Q4 · Q&A responses: +5.12013 Q1 · Q&A responses: +10.42013 Q2 · Q&A responses: +10.22013 Q3 · Q&A responses: -2.82013 Q4 · Q&A responses: +9.02014 Q1 · Q&A responses: +5.32014 Q2 · Q&A responses: +9.02014 Q3 · Q&A responses: +7.02014 Q4 · Q&A responses: +5.62015 Q1 · Q&A responses: +6.52015 Q2 · Q&A responses: +7.32015 Q3 · Q&A responses: +7.42015 Q4 · Q&A responses: +7.02016 Q1 · Q&A responses: +15.12016 Q2 · Q&A responses: +13.02016 Q3 · Q&A responses: +8.82016 Q4 · Q&A responses: +16.82017 Q1 · Q&A responses: +6.22017 Q2 · Q&A responses: +16.82017 Q3 · Q&A responses: +10.82017 Q4 · Q&A responses: +15.32018 Q1 · Q&A responses: +9.52018 Q2 · Q&A responses: +9.22018 Q3 · Q&A responses: +8.72018 Q4 · Q&A responses: +15.02019 Q1 · Q&A responses: +9.72019 Q2 · Q&A responses: +6.42019 Q3 · Q&A responses: +10.52019 Q4 · Q&A responses: +10.62020 Q1 · Q&A responses: -2.62020 Q2 · Q&A responses: +1.32020 Q3 · Q&A responses: +9.92020 Q4 · Q&A responses: +2.62021 Q1 · Q&A responses: +6.52021 Q2 · Q&A responses: +14.42021 Q3 · Q&A responses: +6.42021 Q4 · Q&A responses: +7.72022 Q1 · Q&A responses: +2.82022 Q2 · Q&A responses: +12.72022 Q3 · Q&A responses: +6.52022 Q4 · Q&A responses: +4.72023 Q1 · Q&A responses: +2.32023 Q2 · Q&A responses: +4.02023 Q3 · Q&A responses: +0.32023 Q4 · Q&A responses: +5.52024 Q1 · Q&A responses: +10.12024 Q2 · Q&A responses: +13.02024 Q3 · Q&A responses: +12.32024 Q4 · Q&A responses: +11.42025 Q1 · Q&A responses: +12.0
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$-0.25$9.23$18.702007 Q12009 Q32012 Q12014 Q32017 Q12019 Q32022 Q12024 Q32014 Q1: $11.122014 Q2: $10.942014 Q3: $11.132014 Q4: $7.412015 Q1: $4.502015 Q2: $5.092015 Q3: $4.292015 Q4: $3.452016 Q1: $2.202016 Q2: $2.912016 Q3: $3.802016 Q4: $4.632017 Q1: $4.992017 Q2: $5.002017 Q3: $4.612017 Q4: $5.282018 Q1: $6.242018 Q2: $8.262018 Q3: $8.822018 Q4: $8.232019 Q1: $7.282019 Q2: $8.042019 Q3: $7.852019 Q4: $6.902020 Q1: $5.342020 Q2: $1.062020 Q3: $2.142020 Q4: $3.072021 Q1: $5.452021 Q2: $6.112021 Q3: $7.512021 Q4: $9.532022 Q1: $12.462022 Q2: $15.742022 Q3: $17.392022 Q4: $16.762023 Q1: $15.342023 Q2: $14.082023 Q3: $14.072023 Q4: $14.382024 Q1: $13.132024 Q2: $13.562024 Q3: $12.272024 Q4: $10.89

Forward P/E

3.2347.8892.522007 Q12009 Q32012 Q12014 Q32017 Q12019 Q32022 Q12024 Q32014 Q1: 10.362014 Q2: 11.912014 Q3: 11.202014 Q4: 14.312015 Q1: 23.722015 Q2: 19.602015 Q3: 18.432015 Q4: 27.082016 Q1: 43.412016 Q2: 34.582016 Q3: 25.882016 Q4: 25.052017 Q1: 21.832017 Q2: 21.342017 Q3: 24.752017 Q4: 22.712018 Q1: 18.442018 Q2: 15.382018 Q3: 13.552018 Q4: 13.102019 Q1: 17.132019 Q2: 15.282019 Q3: 15.822019 Q4: 17.182020 Q1: 10.312020 Q2: 86.362020 Q3: 36.752020 Q4: 28.892021 Q1: 19.812021 Q2: 17.962021 Q3: 13.082021 Q4: 12.132022 Q1: 12.662022 Q2: 10.442022 Q3: 9.392022 Q4: 10.282023 Q1: 10.032023 Q2: 11.162023 Q3: 11.812023 Q4: 10.062024 Q1: 11.722024 Q2: 11.312024 Q3: 11.732024 Q4: 13.23

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q2 tone ↑ +4.9 fwd EPS ↓ -0.18 Tone rose while the forward EPS estimate was cut.
  • 2015 Q3 tone ↑ +4.1 fwd EPS ↓ -0.80 Tone rose while the forward EPS estimate was cut.
  • 2016 Q1 tone ↑ +5.8 fwd EPS ↓ -1.25 Tone rose while the forward EPS estimate was cut.
  • 2017 Q1 tone ↓ -5.5 fwd EPS ↑ +0.36 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -8.9 fwd EPS ↑ +0.96 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↑ +3.1 fwd EPS ↓ -0.59 Tone rose while the forward EPS estimate was cut.
  • 2019 Q3 tone ↑ +4.1 fwd EPS ↓ -0.19 Tone rose while the forward EPS estimate was cut.
  • 2020 Q2 tone ↑ +7.4 fwd EPS ↓ -4.28 Tone rose while the forward EPS estimate was cut.
  • 2020 Q4 tone ↓ -7.6 fwd EPS ↑ +0.93 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q3 tone ↓ -4.5 fwd EPS ↑ +1.40 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↓ -3.2 fwd EPS ↑ +2.02 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q1 tone ↓ -2.3 fwd EPS ↑ +2.93 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↓ -8.0 fwd EPS ↑ +1.65 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-02+8.5——View →
2024 Q42025-01-31+10.3$10.8913.2View →
2024 Q32024-11-01+10.0$12.2711.7View →
2024 Q22024-08-02+8.4$13.5611.3View →
2024 Q12024-04-26+7.6$13.1311.7View →
2023 Q42024-02-02+6.6$14.3810.1View →
2023 Q32023-10-27-0.2$14.0711.8View →
2023 Q22023-07-28+3.0$14.0811.2View →