Are Wall Street Analysts Bullish on Chevron Stock?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 31 2025
0mins
Should l Buy CVX?
Source: NASDAQ.COM
Chevron's Performance: Chevron Corporation has underperformed the market over the past year, with a 4.1% stock gain compared to the S&P 500's 23.3%, but it has outpaced the index in 2025 with a 7.9% increase. The company reported impressive Q3 results, exceeding revenue expectations and boosting investor confidence despite challenges from oil price slumps.
Analyst Outlook: Analysts maintain a strong bullish outlook on Chevron, with a consensus rating of "Strong Buy" among 22 analysts, reflecting an increase in positive ratings since three months ago. The mean price target suggests a potential upside of 13.5% from current levels, with some targets indicating up to a 26% increase.
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Analyst Views on CVX
Wall Street analysts forecast CVX stock price to fall
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 186.030
Low
158.00
Averages
176.95
High
206.00
Current: 186.030
Low
158.00
Averages
176.95
High
206.00
About CVX
Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Increased Energy Holdings: Berkshire Hathaway has increased its stake in Chevron from 122 million shares to 130 million shares last quarter, raising its portfolio weight to 7.24%, indicating strong confidence in the company.
- Performance Returns: Chevron achieved record oil and gas production last year, returning $26 billion to shareholders, an 18% increase year-over-year, despite its stock price rising only 1.5% in 2025, reflecting the pressure of low oil prices on profitability.
- Market Environment Analysis: Although Chevron's production and efficiency gains are significant, the company's profitability is impacted by oil prices remaining below $70 per barrel, with a break-even point around $50 per barrel, suggesting that even small price increases could substantially enhance profits.
- Geopolitical Impact: With rising geopolitical tensions in the Middle East, oil prices are expected to rise, and Buffett and his team are optimistic about Chevron's future performance, believing that in a recovering price environment, the stock could see significant upside.
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- Increased Market Uncertainty: Iran's threats to attack the Strait of Hormuz, through which 20% of global oil supply passes, could lead to prices soaring above $100 per barrel if the situation escalates, posing significant risks for investors.
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- Increased Energy Holdings: Berkshire Hathaway has increased its stake in Chevron from 122 million shares to 130 million shares last quarter, raising its portfolio weight to 7.24%, indicating strong confidence in the company.
- Performance Returns: Chevron achieved record oil and gas production last year, returning $26 billion to shareholders, an 18% increase year-over-year, despite its stock price rising only 1.5% in 2025, reflecting the pressure of low oil prices on profitability.
- Market Environment Analysis: Although Chevron's production and efficiency gains are significant, the company's profitability is impacted by oil prices remaining below $70 per barrel, with a break-even point around $50 per barrel, suggesting that even small price increases could substantially enhance profits.
- Geopolitical Impact: With rising geopolitical tensions in the Middle East, oil prices are expected to rise, and Buffett and his team are optimistic about Chevron's future performance, believing that in a recovering price environment, the stock could see significant upside.
See More
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- Energy Price Surge: An oil tanker logjam has led to a significant rise in energy prices, with U.S. West Texas Intermediate futures climbing 3% to over $76 per barrel and Brent crude up 2% to more than $83, indicating heightened market concerns over energy supply disruptions.
- AI Technology Controversy: Anthropic has reopened discussions with the Pentagon regarding its AI models, despite President Trump ordering a halt to their use, highlighting the complexities of government regulation and military applications of AI technology, which may impact future collaborations.
- Strong Broadcom Earnings: Following a robust fiscal first-quarter report, Broadcom's stock rose over 6% in premarket trading, with projections of AI revenue exceeding $100 billion by FY2027, showcasing a positive outlook for its custom chip business that could attract more investor interest.
- StubHub Stock Plunge: StubHub's shares fell 15% after fourth-quarter revenue missed expectations, prompting JPMorgan to downgrade its rating from buy to hold, reflecting a lack of confidence in the company's future performance and potentially influencing investor decisions.
See More
No Timeline for Safe Passage in Strait of Hormuz
- Oil Price Surge: U.S. crude oil prices reached their highest level since June 2025, rising 3.8% to $77.52 per barrel, while Brent crude increased by 2.9% to $83.75, reflecting market sensitivity to Middle Eastern tensions.
- Iranian Attack Claim: Iran claimed to have attacked an oil tanker with a missile, leading to severe disruptions in shipping through the Strait of Hormuz, with the Revolutionary Guard ordering its closure and threatening further attacks on passing tankers, escalating market anxiety.
- Shipping Standstill: Tanker traffic through the Strait of Hormuz has nearly halted due to the U.S.-Israeli conflict with Iran, as approximately 20% of global oil consumption is exported through this route, causing ship owners to worry about security, thus impacting global oil supply chains.
- U.S. Response Measures: President Trump announced that the U.S. would provide political risk insurance for tankers passing through the Strait and would escort ships if necessary, although the White House could not provide a timeline for when commercial shipping would resume, indicating the complexity of the situation.
See More
U.S.-Israeli Military Campaign Against Iran Enters Sixth Day
- Clear Military Objectives: The White House Press Secretary stated that U.S. goals include destroying Iran's ballistic missile program, annihilating its naval presence, and preventing nuclear weapon development, indicating an acceleration of U.S. military strategy in the Middle East.
- Low Ceasefire Expectations: According to Polymarket, traders assign only a 28% chance of a ceasefire by March 31, rising to 68% by June 30, reflecting investor concerns about the prolonged nature of the conflict.
- Escalating Energy Crisis: The closure of the Strait of Hormuz has disrupted approximately 20% of global crude oil transport, with RBC Capital Markets stating that the current energy crisis may be the largest since the 1970s oil embargo, as WTI crude futures have surpassed $76.
- Inflationary Pressures: High oil prices directly feed into inflation, with Oxford Economics analysts noting that if disruptions persist, central banks may reconsider rate cut plans, posing a challenge to Trump's economic policies.
See More
Iran Conflict Drives Crude Oil Prices Higher
- Crude Price Surge: The conflict with Iran has driven WTI crude prices up nearly 30% this year to around $75 per barrel, primarily due to Iran's attempts to halt oil flow from the Middle East, potentially tightening global supplies.
- Increased Market Uncertainty: Iran's threats to attack the Strait of Hormuz, through which 20% of global oil supply passes, could lead to prices soaring above $100 per barrel if the situation escalates, posing significant risks for investors.
- Positive Outlook for Oil Giants: ExxonMobil anticipates a 13% annual earnings growth by 2030 at an average oil price of $65, leveraging its industry-leading cost-saving initiatives, while Chevron expects over 10% free cash flow growth at $70 oil, indicating strong growth potential.
- Focus on Safe Stocks: Given the current market uncertainties, investors should consider large oil companies like ExxonMobil and Chevron, which can benefit from rising oil prices while maintaining profitability even if prices decline.
See More
Broadcom Reports Strong Earnings, AI Revenue Doubles
- Strong Earnings from Broadcom: Broadcom reported better-than-expected earnings and revenue for Q1, with shares rising 6.5% in after-hours trading, reflecting investor confidence in the company's growth prospects.
- AI Market Potential: CEO Hock Tan indicated that AI chip revenue could exceed $100 billion by 2027, positioning Broadcom favorably in the rapidly expanding AI sector.
- Legal Proceedings Update: Billionaire Elon Musk testified in federal court, denying allegations of civil securities fraud related to his Twitter acquisition, asserting that his tweets do not always impact stock prices as expected, which may influence investor sentiment.
- Travel Industry Crisis: The global travel sector faces significant challenges with over 20,000 flights canceled due to the Middle East conflict, stranding over a million travelers, highlighting the substantial impact of geopolitical tensions on the travel industry.
See More
