- Chevron (CVX, Financial) takes a strategic leap into lithium with its acquisition of 125,000 net acres in Texas and Arkansas.
- Wall Street analysts forecast a potential upside of 8.70% for Chevron's stock price.
- GuruFocus' GF Value estimates an increase of 3.35% in Chevron's stock value for the upcoming year.
Chevron (CVX) has strategically acquired a significant 125,000 net acres rich in lithium deposits across Texas and Arkansas. This acquisition from TerraVolta Resources and East Texas Natural Resources marks Chevron's initial venture into establishing a domestic lithium business. The company plans to utilize direct lithium extraction technology, which promises enhanced efficiency while minimizing environmental impact.
Wall Street Analysts' Forecast
According to projections from 21 analysts, Chevron Corp (CVX, Financial) is anticipated to reach an average price target of $161.15 over the next year. The analysts' estimates range from a high of $186.00 to a low of $124.00. This average target suggests a potential upside of 8.70% from the current trading price of $148.26. For more in-depth analysis, visit the Chevron Corp (CVX) Forecast page.
The consensus among 24 brokerage firms places Chevron Corp (CVX, Financial) at an average brokerage recommendation of 2.4, indicating an "Outperform" status. The rating scale employed ranges from 1 to 5, where 1 represents a Strong Buy, and 5 signals a Sell recommendation.
Employing GuruFocus metrics, the estimated GF Value for Chevron Corp (CVX, Financial) in a year's time stands at $153.22. This figure suggests a potential upside of 3.35% from its current price of $148.255. The GF Value, a proprietary GuruFocus metric, signifies the fair value at which the stock should trade, deduced from historical trading multiples, past business growth, and future performance projections. For comprehensive insights, the Chevron Corp (CVX) Summary page provides detailed information.
