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Chevron Corporation (NYSE:CVX) is included among the 15 Best Passive Income Stocks to Buy Right Now.
On November 10, Piper Sandler lowered its price target for Chevron Corporation (NYSE:CVX) to $168 from $169 while maintaining an Overweight rating on the stock, as reported by The Fly. The firm noted that company analyst days rarely shift expectations, and although its update was largely within the “fairway,” Piper sees the incremental disclosure as both positive at the margin and relatively conservative.
The firm acknowledged that some investor concerns may persist regarding post-2030 growth, but emphasized that the investment case for large energy companies mainly hinges on sustainability and growth of shareholder returns. With a projected free cash flow/share CAGR of 15% per year from 2025 to 2030, Chevron remains a leader among its peers.
Chevron Corporation (NYSE:CVX) is a reliable dividend company, having increased its payouts for 38 consecutive years. It recently unveiled a five-year plan targeting steady cash flow and profit growth through 2030 while lowering its capex guidance to a range of $18 billion to $21 billion annually. The company expects over 10% annual growth in adjusted free cash flow through 2030.
Having led its peers in dividend per share growth over the past 25 years with an average annual increase of 7%, Chevron Corporation (NYSE:CVX) plans to repurchase $10 to $20 billion of shares per year through 2030 at average Brent prices of $60 to $80.
Chevron Corporation (NYSE:CVX) is a multinational energy company that explores, produces, refines, and sells oil and natural gas products, including transportation fuels and lubricants.
While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 15 Extreme Dividend Stocks to Buy According to Hedge Funds and 15 Overlooked Dividend Stocks to Buy Right Now.
Disclosure: None.
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