- Chevron (CVX, Financial) is set to leverage "triple-frac" technology in the Permian Basin, aiming to slash production time by 25% and costs by 12%.
- Analysts project an upside potential of 22.74% for Chevron, with a one-year target price averaging $176.38.
- Chevron boasts an "Outperform" status with a 2.1 brokerage recommendation score, highlighting its strong market position.
Chevron Corp (CVX) is poised to make a significant impact in the Permian Basin by expanding its use of cutting-edge "triple-frac" technology. This strategic move is expected to target three wells simultaneously, potentially transforming the company's production dynamics. By adopting this methodology for 50% to 60% of its wells, Chevron aims to reduce completion time by a remarkable 25% and trim costs by 12% from the previous year.
Wall Street Analysts Forecast
According to predictions made by 22 analysts, Chevron Corp (CVX, Financial) has a one-year average target price of $176.38. This forecast includes a high estimate of $203.00 and a low estimate of $156.00. These targets indicate potential upside gains of 22.74% from its present price of $143.71. Investors seeking more detailed data can explore the Chevron Corp (CVX) Forecast page.
The consensus from 25 brokerage firms places Chevron's (CVX, Financial) average recommendation at 2.1, affirming an "Outperform" status. This rating suggests that Chevron remains attractive to investors, with the scale ranging from 1 (Strong Buy) to 5 (Sell).
Projected GF Value
According to GuruFocus estimates, Chevron Corp (CVX, Financial) is projected to reach a GF Value of $157.00 in one year. This implies a potential upside of 9.25% over the current price of $143.71. The GF Value represents GuruFocus' fair value assessment of the stock, derived from historical trading multiples and business growth projections. Investors interested in a comprehensive overview can visit the Chevron Corp (CVX) Summary page.
