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Chevron Corporation (NYSE:CVX) ranks among the best retirement stocks to buy now. On May 5, RBC Capital maintained its Outperform rating on Chevron Corporation (NYSE:CVX) and set a $220 price target. The firm pointed out that although considerable free cash flow was projected in the coming months, Chevron decided to stick with its current strategy, capital structure, and payouts. Meanwhile, UBS boosted Chevron Corporation (NYSE:CVX)’s price objective to $220 from $218, maintaining a Buy rating on the company’s shares. The firm referenced Chevron’s first-quarter 2026 earnings, which exceeded estimates despite timing-related hurdles. The Middle East crisis had no direct impact on Chevron’s assets, and operations temporarily suspended for safety reasons have since resumed. Beyond the reversal of timing effects, UBS highlighted a number of possible earnings upside catalysts for the second and third quarters of 2026. Notably, because the Tengiz-Chevroil project exceeds nameplate capacity, the firm anticipates volumes from Kazakhstan and Eurasia to increase by 60% in Q2 compared to Q1. Chevron Corporation (NYSE:CVX) is a multinational energy company that explores, produces, refines, and sells oil and natural gas products, including transportation fuels and lubricants. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years Disclosure: None. Follow Insider Monkey on Google News.

The refining business of Petroleo Brasileiro S.A., or Petrobras (PBR), had a strong first quarter, and the main reason was simple: its refineries ran harder and produced more fuel. In the first quarter of 2026, the company produced 1,816 thousand barrels per day (Mbpd) of refined products, up 6.7% from the previous quarter. Its refinery utilization rate reached 95%, and in March it climbed to 97.4%, the highest monthly level since December 2014. This shows that Petrobras is getting more out of its existing refining assets at a time when fuel demand and supply security remain important. The stronger performance came from making more of the products that matter most to customers and margins. Diesel, gasoline and jet fuel made up 68% of total oil products output in the quarter. The largest integrated energy firm in Brazil also reached a monthly record of 512 Mbpd of S-10 diesel production in March. Since S-10 diesel is a cleaner, high-demand fuel, producing more of it can help Petrobras improve its product mix and support downstream profitability. The higher use of pre-salt oil in refining also points to better flexibility in turning domestic crude into higher-value products. This is important beyond just quarterly numbers. Higher refinery output helped Petrobras reduce its need for imports, including LPG imports, which fell to 26 Mbpd. The company also signed a deal with mining behemoth Vale to supply S-10 diesel containing 15% biodiesel, showing how its refining business can support both customer relationships and lower-carbon fuel offerings. If Petrobras can keep utilization high while controlling costs, the downstream business could become a more reliable earnings driver. Petrobras’ stronger refining performance is not happening in isolation. A look at U.S. energy giants Chevron CVX and ExxonMobil XOM shows that downstream strength remains an important earnings lever for integrated energy majors, especially when higher utilization, better margins and product optimization come together. Downstream Momentum Extends Beyond Petrobras Chevron’s downstream had a mixed first quarter, but its refining assets showed clear operating strength. U.S. downstream earnings rose from a year earlier as margins improved, and U.S. refinery crude inputs increased 4% to 1,054 Mbpd, helped by Pasadena’s Light Tight Oil project. Chevron also achieved record U.S. crude throughput i...

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Par Pacific Holdings, Inc. PARR reported first-quarter 2026 results on May 5, 2026, after the closing bell. Following the announcement, the company’s share price declined 13% to $60.18 per share. PARR reported adjusted earnings of 78 cents per share, missing the Zacks Consensus Estimate of $1.05 by 25.7%. The bottom line improved from an adjusted loss of 94 cents per share in the year-ago quarter. Quarterly revenues were $1.8 billion, up 4.5% from the year-ago figure of $1.7 million. The top line missed the Zacks Consensus Estimate of $1.9 billion by 5.3%. Management credited stronger market conditions and reliability across the system, while the lower-than-expected quarterly earnings were tied to margin realization dynamics rather than volumes. Par Pacific Holdings, Inc. price-consensus-eps-surprise-chart | Par Pacific Holdings, Inc. Quote Segment revenues for the quarter were $1.8 billion in Refining, $76.8 million in Logistics and $133.1 million in Retail. In the year-ago quarter, the company recorded refining revenues of $1.7 billion, logistics revenues of $71.4 million and retail revenues of $136.4 million. The year-over-year revenue increase reflected stronger product pricing and higher refining volumes. Retail revenues declined due to softer fuel and merchandise trends, while Logistics improved on higher utilization across key assets. Adjusted EBITDA for the reported quarter was $91.5 million, a sharp increase from $10.1 million in the first quarter of 2025. PARR reported net income attributable to stockholders of $54.5 million, or $1.10 per share, against a net loss of $30.4 million or 57 cents per share, in the prior-year quarter. On an adjusted basis, net income attributable to stockholders was $38.5 million against an adjusted net loss of $50.3 million a year ago. The Refining segment produced operating income of $56.3 million against an operating loss of $24.7 million a year earlier. Refining adjusted EBITDA was $69.2 million, supported by higher benchmark indices and improved execution across the footprint. The Hawaii Index averaged $31.11 per barrel compared with $8.13 per barrel a year ago, while Hawaii feedstocks throughput increased to 89.8 thousand barrels per day (Mbpd) from 79.4 Mbpd. Hawaii refined product sales volume was 90.4 Mbpd, higher than the 88.6 Mbpd recorded in the first quarter of 2025. The Hawaii refinery’s adjusted gross mar...

Equinor ASA EQNR reported first-quarter 2026 adjusted earnings per share of $1.48, which topped the Zacks Consensus Estimate of $1.01 by 46.5%. The bottom line increased 124.2% from the year-ago quarter’s 66 cents. Total quarterly revenues of $27.8 billion declined 7% from $29.9 billion in the prior-year quarter. The top line missed the Zacks Consensus Estimate of $28.2 billion by 1.4%. The strong quarterly earnings can be primarily attributed to increased liquids and gas production across major Exploration & Production segments and higher liquid prices. Equinor ASA price-consensus-eps-surprise-chart | Equinor ASA Quote Exploration & Production Norway (E&P Norway) reported adjusted operating income of $7,696 million, up 3% from $7,453 million in the year-ago quarter. The improvement was driven by higher production and strong price realization in the quarter. Increased operating expenses offset the positives. The company’s average daily production of liquids and gas increased 10% to 1,525 thousand barrels of oil equivalent per day (MBoe/d) from 1,390 MBoe/d in the prior-year quarter. The year-over-year increase was driven by new fields, such as Johan Castberg, Halten East and Verdande, and additional wells coming into production. Adjusted operating income of Exploration & Production International (E&P International) was $616 million, up 16% from $531 million in the year-ago quarter. The segment was primarily affected by improved production volumes and higher liquids prices. The first-quarter results include the positive impact of an underlift timing effect and lower operating expenses. However, losses from the equity-accounted joint venture Adura partially offset the positives. The average daily equity production of liquids and gas increased 10% to 339 MBoe/d from 309 MBoe/d in the year-ago quarter. Production improved year over year due to the start-ups of Adura and Bacalhau in late 2025. However, positives were partially offset by the sale of the Peregrino interest, natural decline and operational issues at Roncador. Exploration & Production USA (E&P USA) of Equinor generated an adjusted operating income of $745 million from this segment. The figure increased 45% from $511 million in the first quarter of 2025. The segment was primarily aided by higher natural gas prices and increased gas and liquids production volumes. The integrated firm’s average equity p...

Petroleo Brasileiro S.A., better known as Petrobras PBR, delivered a first-quarter report that was mixed on the surface but encouraging underneath. The company fell short of earnings and revenue expectations, yet the overall picture pointed to strong operational momentum. Petrobras reported higher year-over-year revenues and earnings, record production, healthy cash generation and continued improvement across its refining and offshore businesses. At a time when energy giants like ExxonMobil XOM and Chevron CVX are leaning on high-quality assets and disciplined execution, Petrobras is also showing signs of strong operational strength and long-term growth potential. Petrobras reported first-quarter earnings per ADS of 70 cents, below the Zacks Consensus Estimate of $1.02, while revenues of $23.5 billion missed the $26.4 billion consensus. Still, EPS improved from 62 cents a year earlier and revenues rose 11.7%. Excluding one-off items, net income attributable to Petrobras shareholders reached $4.5 billion, up from $4 billion, while adjusted EBITDA increased to $11.7 billion from $10.7 billion. Operating cash flow was $8.4 billion and free cash flow was $3.9 billion. The biggest positive was production. Petrobras achieved record oil, NGL and natural gas production of 3,225 thousand barrels of oil equivalent per day (MBOE/d), up 16.1% from the prior-year period. Growth was driven by stronger output from key offshore fields such as Búzios, Mero, Marlim and Voador. The company’s upstream business generated $16 billion in revenues and $4.8 billion in net income. Similar to ExxonMobil and Chevron, Petrobras is relying on efficient, low-cost production to support profits across commodity cycles. Image Source: Petrobras Petrobras also saw strong improvement in its refining, transportation and marketing operations. Segment revenues increased to $22.3 billion from $20 billion a year ago, while net income jumped sharply to $2.3 billion from just $367 million. Adjusted EBITDA more than tripled to $3.8 billion. The company produced 1,816 thousand barrels per day (Mbpd) of refined products during the quarter, while refinery utilization rose to 95%. Diesel, jet fuel and gasoline accounted for most of the output mix. Petrobras also continues to expand refining capacity. Its RNEST refinery set a record for S-10 diesel production in April, reaching 385 million liters, about 60%...

Western Midstream Partners LP WES reported first-quarter 2026 earnings of 85 cents per unit, up 7.6% from 79 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 74 cents by 14.9%. Total quarterly revenues of $1.1 billion topped the Zacks Consensus Estimate of $944.1 million. The top line increased 22.5% from the prior-year level of $917.1 million. The strong quarterly results can be primarily attributed to higher throughputs across its natural gas, crude oil and natural gas liquid (NGL) assets. An increase in total operating expenses partially offset the positives. Western Midstream Partners, LP price-consensus-eps-surprise-chart | Western Midstream Partners, LP Quote Operationally, Western Midstream logged sequential gains across its three core product lines. The throughput attributable to Western Midstream Partners’ natural gas assets totaled 5,209 million cubic feet per day (MMcf/d), up 2% from the prior-year quarter’s figure of 5,110 MMcf/d and up 1% sequentially. The increase was primarily driven by higher volume from the DJ Basin and Chipeta complexes. The commissioning of a new Red Bluff Express receipt point in fourth-quarter 2025 further enhanced throughput volume. However, volume growth from the Powder River Basin and the Mi Vida plant slightly offset the positives. Total throughput for crude oil and NGL assets was 521 thousand barrels per day (MBbls/d) compared with 503 MBbls/d in the first quarter of 2025. The 3% year-over-year increase is due to higher volumes from the partnership’s DBM oil system. Crude oil and NGL throughput increased 3% sequentially, driven by higher volumes from the DBM oil system and the FRP pipeline. Total operated throughput for crude oil and NGLs assets was 429 MBbls/d compared with 411 MBbls/d in the prior-year quarter. Total throughput attributable to WES for produced-water assets was 2,795 MBbls/d, up 140% from 1,166 MBbls/d in the year-ago quarter. The increase was driven by expanded capacity at DBM water systems following the acquisition of Aris. Per management, Delaware Basin growth occurred despite curtailments linked to weak and volatile Waha natural-gas pricing, which it expects to persist through the second quarter amid downstream maintenance. Cost discipline was another key support for the quarter. Total operating expenses for the quarter stood at $662.5 million, higher than the...

Cenovus Energy Inc. CVE reported first-quarter 2026 adjusted earnings of 61 cents per share, which beat the Zacks Consensus Estimate of 56 cents by 8.9%. The bottom line increased from the year-ago quarter’s figure of 32 cents. Total quarterly revenues of $9 billion missed the Zacks Consensus Estimate of $9.3 billion by 3.2%. The top line declined from the year-ago quarter’s level of $9.3 billion. Strong quarterly earnings were primarily driven by higher total upstream production. A rise in general and administrative expenses, and net foreign exchange (gain) loss, partially offset the positives. Cenovus Energy Inc price-consensus-eps-surprise-chart | Cenovus Energy Inc Quote Cenovus’ Oil Sands segment revenues increased to C$7.8 billion from C$7.0 billion in the year-ago quarter, driven by higher sales volumes. The operating margin from the Oil Sands unit totaled C$3.1 billion, up from C$2.54 billion reported a year ago. Cenovus’ Conventional segment revenues increased to C$1.0 billion from C$924 million in the first quarter of 2025. The operating margin from the Conventional unit totaled C$211 million, reflecting a significant increase from C$173 million recorded in the year-ago quarter. Cenovus’ Offshore segment revenues were C$524 million, higher than the C$426 million recorded in the prior year. The Offshore unit recorded an operating margin of C$402 million, up from C$331 million in the year-ago quarter. In the first quarter, the company recorded Oil Sands crude oil and natural gas liquids production of 772.6 thousand barrels per day (Mbbls/d), an increase from the year-ago quarter’s figure of 624.3 Mbbls/d. Oil Sands natural gas production was 14.4 million cubic feet per day (MMcf/d), higher than the 11.4 MMcf/d recorded a year ago. Oil Sands volumes rose 23.8% to 775.0 thousand barrels of oil equivalent per day (Mboe/d) from 626.2 Mboe/d in the year-ago quarter. The company’s Conventional crude oil and natural gas liquids production was 28.9 Mbbls/d compared with 25.7 Mbbls/d a year ago. Conventional natural gas production was 852 MMcf/d, lower than the 887.9 MMcf/d recorded a year ago. Conventional volumes dipped 1.8% to 121.7 Mboe/d from 123.9 Mboe/d recorded in the first quarter of 2025. The company’s Offshore crude oil and natural gas liquids production was 28.6 Mbbls/d compared with 20.9 Mbbls/d a year ago. Offshore natural gas production was 281...

Sunoco LP SUN reported first-quarter 2026 earnings of $2.85 per unit, up 135.5% from $1.21 a year ago. The bottom line topped the Zacks Consensus Estimate of $1.71 by 66.7%. Total quarterly revenues of $10.7 billion surpassed the Zacks Consensus Estimate of $9.6 billion by 11.4%. The top line increased 106.4% from $5.3 billion reported in the year-ago quarter. The strong quarterly results were driven by higher motor fuel sales volumes and increased motor fuel profit per gallon. Higher operating expenses partially offset the positives. Sunoco LP price-consensus-eps-surprise-chart | Sunoco LP Quote For the first quarter of 2026, the board of directors of Sunoco's general partner declared a distribution of 98.99 cents per unit or $3.9596 on an annualized basis, marking a sequential increase of 6.25% or a 10% increase from the prior-quarter figure of 89.76 cents per unit. The distribution is expected to be paid on May 20, 2026, to unitholders of record as of May 8, 2026. SUN reported net income of $644 million in the first quarter compared with $207 million in the year-ago quarter. Operating income increased to $866 million from $296 million. During the quarter, the partnership’s pre-tax income increased by $102 million or 54 cents per common unit, due to a LIFO liquidation, driven by reduced fuel inventories. Sunoco posts financial results under four reportable segments after the acquisition of Parkland Corporation: Fuel Distribution, Pipeline Systems, Terminals and Refinery. Sunoco’s Fuel Distribution segment remained the earnings engine. Revenues from external customers in the segment were $10.20 billion for the first quarter compared with $4.9 billion in the year-ago period of 2025. Segment adjusted EBITDA was $529 million, higher than the prior-year quarter’s figure of $220 million. The segment sold 3,796 million gallons of motor fuel, up from 2,087 million gallons recorded in the year-ago period. The motor fuel margin per gallon was 17 cents compared with 11.5 cents in the year-ago quarter. Pipeline Systems generated $194 million of revenues from external customers in the quarter, higher than the prior year’s figure of $173 million. Segment adjusted EBITDA improved to $179 million from $172 million a year ago, driven by market demand and improved blending economics. The positives were partly offset by higher expenses. Pipelines throughput was 1,291 thousan...

YPF Sociedad Anónima YPF reported first-quarter 2026 earnings of $1.03 per share, which beat the Zacks Consensus Estimate of 83 cents by 24.1%. The bottom line improved from the year-ago quarter’s figure of 32 cents per share. Total quarterly revenues of $4.9 billion missed the Zacks Consensus Estimate of $5 billion by 2.0%. The top line increased 7.3% from the prior-year level of $4.6 billion. The strong quarterly earnings were driven by increased crude oil production, higher crude oil price realizations and reduced total operating expenses. However, reduced hydrocarbon production and lower natural gas price realizations partially offset the positives. YPF Sociedad Anonima price-consensus-eps-surprise-chart | YPF Sociedad Anonima Quote In the first quarter of 2026, YPF’s total hydrocarbon production was 525 thousand barrels of oil equivalent per day (Mboe/D), down 5% from 552.1 Mboe/D in the corresponding period of 2025. Crude oil production in the reported quarter averaged 271.0 thousand barrels per day (MBbl/D) compared with 269.9 MBbl/D a year ago. The improvement can be primarily attributed to higher shale production, partially offset by lower conventional output. YPF’s natural gas production in the reported quarter decreased 12.2% year over year to 32.8 million cubic meters per day. Gas production was primarily affected by lower conventional gas output from mature fields. Natural gas liquids production was 47.7 MBbl/D compared with 47.3 MBbl/D in the prior-year quarter. The average price realization for crude oil improved 0.8% year over year to $68.4 per barrel. The average natural gas price realization fell 1.7% from the year-ago quarter to $2.9 per million British thermal unit. YPF’s adjusted EBITDA from upstream activities increased 46.8% year over year to $1.1 billion, primarily driven by lower lifting costs and other expenses. In the quarter under review, processed crude volumes reached 344.3 MBbl/D, up 8.3% from 318 MBbl/D in the year-ago quarter. Refineries’ utilization rate in the first quarter was 102%, up from 94% in the prior-year quarter. Adjusted EBITDA, excluding the price effect of oil products on inventories, for the segment was $598 million, improving 9.5% year over year. Operating expenses in the quarter totaled $1.4 billion, down 20.1% from $1.7 billion in the year-ago quarter. Net cash flow provided by operating activities in the qu...

Matador Resources Company (MTDR) reported first-quarter 2026 adjusted earnings of $1.53 per share, down 23.1% from $1.99 a year ago. The bottom line beat the Zacks Consensus Estimate of $1.24 by 23.4%. Total revenues were $671.6 million, down 33.8% from $1,014 million in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $883.3 million by 24.0%. Better-than-expected quarterly earnings were driven by increased total production volumes and slightly lower operating expenses. The positives were partially offset by lower natural gas price realizations. Matador Resources Company price-consensus-eps-surprise-chart | Matador Resources Company Quote Matador Resources is primarily involved in oil and gas exploration and production activities in the United States. The company’s overall financial performance is heavily dependent on the oil and gas pricing environment. Most of MTDR’s production comprises oil (58% of total first-quarter production), making oil prices a major factor in determining the company’s earnings. The average oil production was 120,277 barrels per day (Bbl/D), reflecting a 4.6% increase from the prior-year figure of 115,030. The figure also beat our estimate of 116,217.3 Bbl/D. Natural gas production was recorded at 523.9 million cubic feet per day (MMcf/D), up from 501.6 MMcf/D recorded a year ago. The reported figure came in higher than our estimate of 519.7 MMcf/D. Total oil equivalent production in the first quarter was 207,594 barrels of oil equivalent (BOE/D), reflecting a 4.5% increase from the year-ago quarter’s figure of 198,631 BOE/D. The figure also exceeded our projection of 202,834.8 BOE/D. The company’s production volumes exceeded the midpoint of the guidance range by 3%, primarily due to the sustained outperformance of Matador Resources’ producing wells and those brought into production in the first quarter of 2026. Matador Resources turned 36 net operated wells to production in the quarter, including a large portion in late February and March. A key pressure point in the quarter was natural gas pricing. Matador’s average realized natural gas price, excluding hedging, was 64 cents per thousand cubic feet (Mcf), sharply down from $3.56 per Mcf in the first quarter of 2025. The figure came in lower than our estimate of $2.74 per Mcf. The natural gas price decline was driven by a collapse in Waha prices, which forc...

Chord Energy Corporation CHRD reported first-quarter 2026 adjusted earnings of $4.56 per share, up 12.9% from $4.04 a year ago. The bottom line beat the Zacks Consensus Estimate of $3.35 by 36.1%. Total quarterly revenues increased 4.3% year over year to $1,150.6 million from the prior-year level of $1,103.3 million. The top line beat the Zacks Consensus Estimate of $1,077.4 million by 6.8%. Strong quarterly results were driven by increased production volumes and higher oil price realization and natural gas sales prices. However, lower natural gas liquids sales prices slightly offset the positives. Chord Energy Corporation price-consensus-eps-surprise-chart | Chord Energy Corporation Quote CHRD’s total production in the first quarter of 2026 was 275.6 thousand barrels of oil equivalent per day (MBoe/D), above the 270.9 MBoe/D recorded a year ago. Oil production, accounting for 57.3% of the total production in the quarter, amounted to 158 thousand barrels of oil per day (Mbo/D), higher than 153.7 Mbo/D recorded in the year-ago period. Natural gas liquids production was 49 thousand barrels per day (MBbl/D), marginally higher than 48.1 MBbl/D in the prior-year quarter. Natural gas production was 411.4 million cubic feet per day (MMcf/D), down from 414.5 MMcf/D recorded a year ago. The company had 37 gross (30 net) operated wells turned into line during the quarter, supporting stronger near-term production delivery. Average sales prices for natural gas were approximately $3.14 per Mcf, higher than $2.30 recorded a year ago. The company’s oil price realization in the quarter was $70.05 per barrel (Bbl), higher than $69.11 recorded a year ago. Average sales prices for natural gas liquids were approximately $8.66 per Bbl, lower than $14.18 recorded a year ago. Lease operating expense (LOE) per barrel of oil equivalent was $9.87 per Boe, landing near the midpoint of management’s expected range but higher than the year-ago figure of $9.56. On the income statement, LOE increased to $244.9 million from $233.1 million a year earlier, while gathering, processing and transportation expense declined to $67.0 million from $73.3 million. Purchased oil and gas expenses were $509.8 million, up sharply from the prior-year figure of $111.4 million. Depreciation, depletion and amortization rose to $384.2 million from the prior year figure of $349.8 million, reflecting a larger as...