Quick Read – Chevron is up 31% year to date and signed a 20-year power deal with Microsoft, but its $205 price target implies only 5% upside. – ExxonMobil’s cheaper P/E of 22 and stronger ROE make Chevron’s premium valuation look stretched and support its conservative price…
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Chevron (NYSE:CVX) is having a standout year heading into the second half of 2026. Chevron delivered Q2 2026 adjusted EPS of $6.06 and revenue of $67.20 billion. Our 24/7 Wall St. price target for Chevron is $204.72, implying 4.99% upside from the current $194.99 quote.
Our model’s rating is hold with high confidence at 90%. 24/7 Wall St. Price Target Summary A Blistering Run Meets a Rich Setup Chevron shares are up 31.6% year to date and 18.79% in the last month, sitting just 1% below the 52-week high of $212.76. Q2 catalysts included worldwide production of 4,070 MBOED, a record 2,077 MBOED in U.S. upstream, 97% U.S. refinery utilization, and downstream earnings of $4.87 billion against $737 million a year ago.