Chevron (CVX) Stock Forecast & Price Target

$162.95 +0.42 (+0.26%)

(As of 01:09 PM ET)

Chevron - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 18 Analyst Ratings

Sell
0

Hold
4

Buy
14

Based on 18 Wall Street analysts who have issued ratings for Chevron in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 18 analysts, 4 have given a hold rating, and 14 have given a buy rating for CVX.

Consensus Price Target

$175.56
7.74% Upside

According to the 18 analysts' twelve-month price targets for Chevron, the average price target is $175.56. The highest price target for CVX is $204.00, while the lowest price target for CVX is $155.00. The average price target represents a forecasted upside of 7.74% from the current price of $162.95.

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CVX Analyst Ratings Over Time

Type	Current Forecast 11/28/23 to 11/27/24	1 Month Ago 10/29/23 to 10/28/24	3 Months Ago 8/30/23 to 8/29/24	1 Year Ago 11/28/22 to 11/28/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	14 Buy rating(s)	12 Buy rating(s)	13 Buy rating(s)	14 Buy rating(s)
Hold	4 Hold rating(s)	5 Hold rating(s)	6 Hold rating(s)	3 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$175.56	$173.07	$183.82	$187.89
Forecasted Upside	7.74% Upside	14.96% Upside	24.68% Upside	29.15% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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CVX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

CVX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Chevron Stock vs. The Competition

Type	Chevron	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.78	2.63	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	8.04% Upside	1,611.99% Upside	6.73% Upside
News Sentiment Rating	Positive News See Recent CVX News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/26/2024	Citigroup 3 of 5 stars	A. Syme Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Neutral ➝ Buy	$145.00 ➝ $185.00	+15.35%
11/5/2024	DZ Bank 4 of 5 stars		Upgrade	Hold ➝ Buy	$170.00	+10.41%
11/4/2024	Royal Bank of Canada 4 of 5 stars		Boost Target	Outperform ➝ Outperform	$170.00 ➝ $175.00	+13.70%
11/4/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$192.00 ➝ $194.00	+26.04%
11/4/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$150.00 ➝ $155.00	+0.89%
11/4/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$168.00 ➝ $174.00	+13.67%
Get the Latest News and Ratings for CVX and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for Chevron and its competitors with MarketBeat's FREE daily newsletter.
10/17/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy	$168.00	+12.99%
10/10/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$180.00 ➝ $163.00	+8.03%
9/27/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$196.00 ➝ $169.00	+16.43%
9/16/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$205.00 ➝ $189.00	+32.83%
7/18/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Margolin Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Strong-Buy ➝ Peer Perform
7/17/2024	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating	B. Brackett Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Market Perform	$183.00 ➝ $167.00	+5.85%
4/30/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$175.00 ➝ $178.00	+8.68%
4/29/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$155.00 ➝ $160.00	-3.55%
4/18/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$180.00 ➝ $204.00	+29.63%
4/15/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$170.00 ➝ $174.00	+9.68%
4/1/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy
1/8/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$184.00	+22.34%
10/17/2023	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Equal Weight ➝ Equal Weight	$203.00 ➝ $201.00	+20.29%
10/12/2023	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Outperform	$190.00	+17.94%
5/31/2023	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Underweight ➝ Neutral	$161.00 ➝ $170.00	+11.05%
2/24/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform	$185.00 ➝ $170.00	+4.98%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Wednesday at 01:33 PM ET.

Should I Buy Chevron Stock? CVX Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Friday, November 22, 2024. Please send any questions or comments about these Chevron pros and cons to contact@marketbeat.com.

Chevron
Bull Case

Here are some ways that investors could benefit from investing in Chevron:

Chevron has a current stock price of $161.58, which reflects a stable performance in the market and suggests potential for growth.
The company recently reported earnings of $2.51 per share, exceeding analysts' expectations, indicating strong financial health and operational efficiency.
Chevron declared a quarterly dividend of $1.63 per share, translating to an annualized dividend of $6.52 and a yield of 4.04%, providing a reliable income stream for investors.
Analysts have a consensus price target of $174.93, suggesting that there is room for price appreciation, making it an attractive investment opportunity.
Chevron's low debt-to-equity ratio of 0.13 indicates a strong balance sheet, which can provide stability and reduce financial risk for investors.

Chevron
Bear Case

Investors should be bearish about investing in Chevron for these reasons:

The company's revenue decreased by 6.3% year-over-year, which may indicate challenges in maintaining sales growth in a competitive market.
Chevron's earnings per share have declined from $3.05 in the same quarter last year, raising concerns about profitability trends.
Insider selling activity, including a significant sale by the CEO, may signal a lack of confidence in the company's short-term prospects.
The company's PEG ratio of 3.59 suggests that the stock may be overvalued relative to its growth rate, which could deter value-focused investors.
With a payout ratio of 71.65%, there may be concerns about the sustainability of dividend payments if earnings continue to decline.

CVX Forecast - Frequently Asked Questions

: According to the research reports of 18 Wall Street equities research analysts, the average twelve-month stock price forecast for Chevron is $175.56, with a high forecast of $204.00 and a low forecast of $155.00.
: 18 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Chevron in the last year. There are currently 4 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CVX shares.
: According to analysts, Chevron's stock has a predicted upside of 7.74% based on their 12-month stock forecasts.
: Over the previous 90 days, Chevron's stock had 2 upgrades by analysts.
: Chevron has been rated by research analysts at Bank of America, Barclays, Citigroup, DZ Bank, Mizuho, Royal Bank of Canada, Scotiabank, Truist Financial, UBS Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Chevron more than other "oils/energy" companies. The consensus rating score for Chevron is 2.78 while the average consensus rating score for "oils/energy" companies is 2.62. Learn more on how CVX compares to other companies.

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This page (NYSE:CVX) was last updated on 11/27/2024 by MarketBeat.com Staff

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Chevron (CVX) Stock Forecast & Price Target