- Chevron eyes promising developments in Namibia’s Walvis Basin with plans to drill by 2026 or 2027.
- Analyst forecasts indicate a potential upside of over 20% for Chevron stock.
- GuruFocus metrics show Chevron's fair value estimate suggesting further growth potential.
Chevron (CVX, Financial) is strategically planning to venture into Namibia's Walvis Basin, aiming to drill an exploratory well by 2026 or 2027. This initiative comes on the heels of Chevron's acquisition of an 80% stake in Petroleum Exploration License 82, located in a region renowned for significant oil and gas findings, north of the Orange Basin.
Wall Street Analysts Forecast
Chevron Corp (CVX, Financial) is attracting considerable attention from analysts, with 22 experts setting a one-year average target price of $168.34. This suggests a robust upside potential of 20.91% compared to its current trading price of $139.23. Analysts’ predictions span from a high of $197.00 to a low of $124.00. For more in-depth analysis, visit the Chevron Corp (CVX) Forecast page.
Furthermore, Chevron's stock holds an average brokerage recommendation of 2.2, indicating an "Outperform" status among 25 brokerage firms. The firm's rating scale ranges from 1, representing a Strong Buy, to 5, reflecting a Sell recommendation.
According to GuruFocus estimates, Chevron Corp's (CVX, Financial) GF Value for the upcoming year is projected at $155.13, suggesting an upside of 11.42% from its current price. The GF Value metric provides an insight into the fair trading value based on historical multiples, past business growth, and future performance estimates. For additional detailed information, refer to the Chevron Corp (CVX) Summary page.
