Barclays Raises Chevron PT to $156, Keeps Equal Weight Rating On the Stock

Chevron Corporation (NYSE:CVX) is one of the 12 Best Stocks to Invest in for Good Returns. On July 7, Barclays raised its price target on Chevron Corporation (NYSE:CVX) from $152 to $156, keeping its Equal Weight rating on the stock.

Betty Jiang from Barclays increased the price target on CVX as the analyst remains constructive on the firm’s leverage to gas. Jiang sees reasons for long-term price support with an additional demand of over 20 billion cubic feet per day expected by 2030.

The analyst believes that Chevron will leverage the higher expected demand. Moreover, the analyst raised the gas estimates to $4.50 and $4.25 for 2026 and 2027, further adding to the growth of gas companies.

Chevron Corporation (NYSE:CVX) is an integrated energy company. The company produces crude oil and natural gas and manufactures related products.

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Disclosure: None. This article is originally published at Insider Monkey.