- Chevron (CVX, Financial) launches its Ballymore project in the Gulf of Mexico, potentially producing up to 75,000 barrels per day.
- Analysts project a 26.21% upside for Chevron with an average target price of $171.29.
- GuruFocus estimates a 14.31% upside for Chevron based on its GF Value assessment.
Chevron (CVX) has recently marked a significant milestone with the commencement of oil and natural gas production at its $1.6 billion Ballymore project located in the Gulf of Mexico. This strategic venture is anticipated to produce up to 75,000 barrels daily, aligning with Chevron's ambitious goal of achieving a production level of 300,000 barrels of oil equivalent per day by 2026.
Wall Street Analysts Forecast
Chevron Corp (CVX, Financial) is generating considerable interest among analysts, with a one-year average price target of $171.29. This estimate results from insights provided by 22 analysts, presenting a high projection of $197.00 and a low forecast of $140.00. These figures indicate a promising potential upside of 26.21% from Chevron’s current trading price of $135.72. For more in-depth projections, refer to our Chevron Corp (CVX) Forecast page.
The consensus among 25 brokerage firms places Chevron Corp's (CVX, Financial) average brokerage recommendation at 2.2, suggesting an "Outperform" status. This rating is derived from a scale of 1 to 5, where 1 reflects a Strong Buy and 5 corresponds to Sell, indicating a positive outlook from the brokerage community.
GuruFocus GF Value Estimate
According to GuruFocus estimates, Chevron Corp (CVX, Financial) holds an estimated GF Value of $155.13 for the upcoming year. This valuation suggests a potential upside of 14.31% from its current market price of $135.7157. The GF Value is a hallmark of GuruFocus, representing an estimate of the stock's fair trading value. It is derived from historical price multiples, the company's past growth trajectory, and projected future business performance. Access a detailed analysis on our Chevron Corp (CVX) Summary page.
