Goldman, UBS Boost Chevron Price Targets as Post-Hess Free Cash Flow Outlook Brightens

Chevron Corporation (NYSE:CVX) is one of the best commodity stocks to buy. On August 6, 2025, Goldman Sachs held firm on its “Buy” rating, and even nudged its price target up from $175 to $177, after private meetings with Chevron’s top brass. The firm said it’s now “incrementally more constructive” on Chevron’s free cash flow outlook following discussions around the Hess integration, Guyana operations, cost-cutting efforts, and Permian and Gulf-of-America growth, signaling that the cash engine has room to rev up in 2026 and 2027.

Meanwhile, UBS’s very own Josh Silverstein just reiterated his “Buy” call and lifted the price target again, this time from $177 to $186, echoing confidence in Chevron’s tone and trajectory.

With both mega‑banks aligning behind Chevron’s free cash flow prospects, especially post‑Hess, the message is crystal clear: Chevron isn’t just enduring market turbulence; it's gearing up for a strong rebound.

Chevron Corporation, headquartered in San Ramon, California, is a global integrated energy powerhouse with operations spanning upstream exploration, downstream refining, and chemical production. It's best known as the second‑largest oil company in the U.S., generating massive free cash flow, funding dividends, and strategic buybacks.

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