Chevron (CVX) Stock Forecast & Price Target

$145.49

+3.50 (+2.46%)

(As of 09/27/2024 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 19 Analyst Ratings

Sell
0

Hold
6

Buy
13

Based on 19 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 19 analysts, 6 have given a hold rating, and 13 have given a buy rating for CVX.

Consensus Price Target

$180.24
23.88% Upside

According to the 19 analysts' twelve-month price targets for Chevron, the average price target is $180.24. The highest price target for CVX is $204.00, while the lowest price target for CVX is $154.00. The average price target represents a forecasted upside of 23.88% from the current price of $145.49.

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CVX Analyst Ratings Over Time

Type	Current Forecast 9/30/23 to 9/29/24	1 Month Ago 8/31/23 to 8/30/24	3 Months Ago 7/2/23 to 7/1/24	1 Year Ago 9/30/22 to 9/30/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	13 Buy rating(s)	13 Buy rating(s)	14 Buy rating(s)	12 Buy rating(s)
Hold	6 Hold rating(s)	6 Hold rating(s)	4 Hold rating(s)	6 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$180.24	$183.82	$186.95	$190.56
Forecasted Upside	23.88% Upside	24.31% Upside	19.44% Upside	13.01% 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	2.68	2.60	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	23.88% Upside	207.34% Upside	6.16% Upside
News Sentiment Rating	Neutral 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
9/27/2024	Wells Fargo & Company 3 of 5 stars		Lower Target	Overweight ➝ Overweight	$196.00 ➝ $169.00	+16.43%
9/18/2024	UBS Group 4 of 5 stars		Lower Target	Buy ➝ Buy	$192.00 ➝ $189.00	+31.62%
9/16/2024	Mizuho 2 of 5 stars		Lower Target	Outperform ➝ Outperform	$205.00 ➝ $189.00	+32.83%
8/6/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$203.00 ➝ $185.00	+27.89%
8/5/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$190.00 ➝ $180.00	+24.69%
8/5/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$156.00 ➝ $154.00	+6.10%
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.
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%
7/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$195.00 ➝ $180.00	+15.69%
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
2/6/2024	DZ Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold	$160.00	+5.04%
1/8/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$184.00	+22.34%
10/30/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Neutral ➝ Buy	$190.00 ➝ $200.00	+38.55%
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%
7/11/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$180.00 ➝ $170.00	+9.48%
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%
10/31/2022	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$160.00 ➝ $185.00	+2.79%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 03:04 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 Wednesday, September 11, 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's current stock price is at an attractive level, providing a potential entry point for investors looking to buy low.
Recent dividend announcements indicate a stable income source for investors, with a dividend yield of 4.71%.
Chevron's strong return on equity of 13.70% showcases efficient utilization of shareholder funds to generate profits.
The company's consistent revenue growth of 4.7% year-over-year demonstrates resilience in a challenging market environment.
An average EPS estimate of 11.86 for the current fiscal year suggests potential for solid earnings performance.

Chevron
Bear Case

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

Analyst ratings changes, with some firms lowering price targets and revising ratings, may indicate concerns about future performance.
The company's recent earnings report showed a miss on EPS compared to analyst estimates, potentially signaling operational challenges.
Chevron's dividend payout ratio of 59.98% raises questions about the sustainability of the current dividend levels.
Market volatility and uncertainties in the oil and gas sector could impact Chevron's stock price and financial performance.
Competitive pressures and regulatory changes in the energy industry may pose challenges for Chevron's growth prospects.

CVX Forecast - Frequently Asked Questions

: According to the research reports of 19 Wall Street equities research analysts, the average twelve-month stock price forecast for Chevron is $180.24, with a high forecast of $204.00 and a low forecast of $154.00.
: 19 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Chevron in the last year. There are currently 6 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" CVX shares.
: According to analysts, Chevron's stock has a predicted upside of 23.88% based on their 12-month stock forecasts.
: Over the previous 90 days, Chevron's stock had 1 downgrade by analysts.
: Chevron has been rated by research analysts at Barclays, Mizuho, Royal Bank of Canada, Sanford C. Bernstein, Scotiabank, Truist Financial, UBS Group, Wells Fargo & Company, and Wolfe Research in the past 90 days.
: Analysts like Chevron more than other "oils/energy" companies. The consensus rating score for Chevron is 2.68 while the average consensus rating score for "oils/energy" companies is 2.60. Learn more on how CVX compares to other companies.