Wells Fargo has revised its price target for Chevron (CVX, Financial), reducing it from $184 to $173. Despite this adjustment, the firm continues to assign an Overweight rating to the stock. The update primarily considers a revised first-quarter 2025 earnings per share (EPS) projection of $2.04, influenced by various factors.
The recalibrated EPS estimate reflects higher Depreciation, Depletion, and Amortization (DD&A) costs in Chevron's upstream operations. Additionally, the absence of favorable conditions observed in the fourth quarter and improved expectations for downstream operations have been accounted for in this revision.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 22 analysts, the average target price for Chevron Corp (CVX, Financial) is $174.52 with a high estimate of $203.00 and a low estimate of $143.00. The average target implies an upside of 28.97% from the current price of $135.32. More detailed estimate data can be found on the Chevron Corp (CVX) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Chevron Corp's (CVX, Financial) average brokerage recommendation is currently 2.1, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Chevron Corp (CVX, Financial) in one year is $157.00, suggesting a upside of 16.02% from the current price of $135.32. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Chevron Corp (CVX) Summary page.
