Wells Fargo and Scotiabank Raise Price Target on Chevron Corporation (CVX)

With a low price-to-earnings multiple and a significant presence in Warren Buffett’s investment portfolio, Chevron Corporation (NYSE:CVX) earns a spot on our list of the 12 Cheap Value Stocks to Buy Now According to Warren Buffett.

On July 18, 2025, Chevron Corporation (NYSE:CVX) finalized its acquisition of Hess Corporation. With this acquisition, the company has acquired assets in Guyana, the Bakken share, and Southeast Asia, strengthening its portfolio. Furthermore, CVX now also holds a 30% stake in the Stabroek Block, home to over 11 billion barrels of oil equivalent. Looking ahead, the energy giant expects to generate $1 billion in annual run-rate cost synergies by the end of 2025.

Meanwhile, on July 23, 2025, Wells Fargo increased its price target for Chevron Corporation (NYSE:CVX) from $165 to $178, maintaining an ‘Overweight’ rating. The investment firm cites strong long-term growth prospects driven by the Hess acquisition. Likewise, on July 17, 2025, Scotiabank increased its target to $160 from $143.

Operating across all aspects of the industry, Chevron Corporation (NYSE:CVX) is a global integrated energy company. It is included in our list of cheap value stocks to buy.

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