- Chevron (CVX, Financial) surpasses earnings expectations but misses on revenue.
- Analyst price targets suggest significant potential upside for Chevron's stock.
- GF Value estimates project moderate growth for the upcoming year.
Chevron (CVX) has reported a mixed outcome for its first-quarter results. The company's non-GAAP earnings per share hit $2.18, exceeding expectations by $0.03, demonstrating resilience in a volatile market. However, the revenue figures fell short at $47.61 billion, trailing the projections by $780 million. Investors should keep an eye on the upcoming hearing on May 26 as Exxon's challenge to the Chevron-Hess agreement could impact future performance.
Wall Street Analysts Forecast
According to the forecast analysis provided by 22 Wall Street analysts, Chevron Corp (CVX, Financial) has an average target price of $168.34. The projections vary significantly, with a high estimate of $197.00 and a low of $124.00. This suggests an impressive potential upside of 23.54% from the current stock price of $136.26. For a deeper dive into these estimates, visit the Chevron Corp (CVX) Forecast page.
The sentiment among brokerage firms is optimistic, with the consensus recommendation from 25 firms rating Chevron at an average of 2.2, which translates to an "Outperform" status. On this scale, 1 represents a Strong Buy, and 5 indicates a Sell recommendation, showcasing the company's favorable position in analysts' views.
GuruFocus metrics also paint a positive picture, estimating the GF Value of Chevron Corp (CVX, Financial) at $155.56 within the next year. This estimate implies a potential upside of 14.16% from the current stock price of $136.26. The GF Value is a comprehensive assessment based on the company’s historical trading multiples, past business growth, and projected future performance. More insights into these estimations can be found on the Chevron Corp (CVX) Summary page.
