Analyst Trims Chevron (CVX) Price Target to $179

Chevron Corporation (NYSE:CVX) is included among the 10 Best Natural Gas Stocks to Buy Right Now.

Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.

On January 2, Citi trimmed its price target on Chevron Corporation (NYSE:CVX) from $185 to $179, but maintained its ‘Buy’ rating on the shares. The reduced target, which still indicates an upside of over 9% from the current share price, comes as the firm updated its estimates to reflect Q4 2024 macro conditions, which featured ‘marginally’ higher oil and gas prices and refining margins. However, the upstream sector also witnessed a higher downtime in the fourth quarter.

That said, Chevron Corporation (NYSE:CVX) is the American oil company that stands to benefit the most from the current scenario following the US military operation to seize Nicolás Maduro. President Trump has already made it clear that regime change would allow American energy firms to reestablish a presence in Venezuela. This works in Chevron’s favor, as the company already maintains its position as the largest foreign investor in the South American country, operating under a US license that permits it to produce and export oil despite recent geopolitical tensions and US sanctions. The oil and gas giant already operates in Venezuela, with about 25% of its operations there, producing around 250,000 barrels per day.

So, while reviving Venezuela’s long-neglected oil sector will require considerable time and investment, Chevron Corporation (NYSE:CVX)’s strong and long-established presence on the ground gives it a significant head start in the race for the biggest oil reserves in the world.

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.

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