Chevron Corporation
CVX
$205.27
-0.24%
Chevron Corporation is an integrated energy company engaged in exploration, production, refining, and marketing of oil and natural gas worldwide, operating across North America, South America, Europe, Africa, Asia, and Australia. As the second-largest U.S. oil company, Chevron holds a distinct competitive position with 2025 net oil-equivalent production of 3.7 million barrels per day and a global refining capacity of 1.8 million barrels per day. The current investor narrative centers on Chevron's strategic production growth initiatives, including a non-binding Iraq accord that could reshape its long-term output, while the company benefits from elevated crude prices above $100 per barrel and a renewed focus on capital discipline, which has driven a 75% projected surge in free cash flow and reinforced the security of its 3.6%-yielding dividend.…
CVX
Chevron Corporation
$205.27
Related headlines
CVX 12-Month Price Forecast
Wall Street consensus
Most Wall Street analysts maintain a constructive view on Chevron Corporation's 12-month outlook, with a consensus price target around $217.88 and implied upside of +6.1% versus the current price.
Average Target
$217.88
0 analysts
Implied Upside
+6.1%
vs. current price
Analyst Count
—
covering this stock
Price Range
$175 - $236
Analyst target range
The target price range spans from a low of $175 to a high of $236, reflecting a wide spread of $61, which signals moderate uncertainty about the stock's future performance. The high target of $236 assumes continued production growth, successful execution of the Iraq expansion, and sustained elevated oil prices, while the low target of $175 prices in potential margin compression or a downturn in energy prices. Recent institutional actions show a mix of upgrades and reiterations, with no downgrades, suggesting that analysts are generally constructive on Chevron's prospects, though the wide range highlights the cyclical nature of the energy sector.
CVX Technical Analysis
Chevron's stock is in a clear uptrend, with a 1-year price change of +28.9% and a YTD gain of +28.3%. The current price of $200 sits near the upper end of its 52-week range, at 93% of the range between the low of $146.49 and high of $214.71, indicating strong momentum and bullish sentiment. This positioning near the highs suggests the market is rewarding the company's operational performance and favorable energy backdrop, though it also raises the risk of short-term overextension.
Beta
0.49
0.49x market volatility
Max Drawdown
-21.5%
Largest decline past year
52-Week Range
$146-$215
Price range past year
Annual Return
+32.0%
Cumulative gain past year
| Period | CVX Return | S&P 500 |
|---|---|---|
| 1m | +6.4% | +2.5% |
| 3m | +7.2% | +2.7% |
| 6m | +11.6% | +11.1% |
| 1y | +32.0% | +20.5% |
| ytd | +31.7% | +12.3% |
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CVX Fundamental Analysis
Chevron's revenue trajectory shows modest growth, with Q1 2026 revenue of $47.56 billion, up 3.2% year-over-year, following a pattern of sequential increases from $44.38 billion in Q2 2025 to $48.17 billion in Q3 2025. The company's upstream segment, generating $12.84 billion in revenue, remains the primary driver, while downstream contributes $18.80 billion, reflecting integrated operations. However, the 3.2% YoY growth rate is subdued compared to the prior year's stronger performance, indicating a mature, cyclical business rather than a high-growth entity.
Quarterly Revenue
$47.6B
2026-03
Revenue YoY Growth
+3.2%
YoY Comparison
Gross Margin
9.6%
Latest Quarter
Free Cash Flow
$13.4B
Last 12 Months
Revenue & Net Income Trends (2 Years)
Revenue Breakdown
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Valuation Analysis: Is CVX Overvalued?
Given Chevron's positive net income of $2.21 billion in Q1 2026, the trailing P/E ratio of 22.9x is the primary valuation metric, while the forward P/E of 15.3x suggests the market expects earnings growth, implying a favorable outlook. The gap between trailing and forward multiples indicates anticipated EPS expansion, supported by analyst estimates of $13.64 for the next fiscal year. This selection is appropriate as the company is profitable, and the P/E ratio provides a direct measure of earnings-based valuation.
PE
22.9x
Latest Quarter
vs. Historical
High-End
5-Year PE Range 6x~30x
vs. Industry Avg
N/A
Industry PE ~N/A*
EV/EBITDA
7.8x
Enterprise Value Multiple