Bank of America raises its price target on Chevron (CVX) to $188, maintaining a Buy rating, as geopolitical tensions and a planned ramp-up of Venezuelan crude exports bolster the energy giant's near-term outlook.
Chevron reported robust fourth-quarter results, emphasizing record global production, major project startups, and increased shareholder returns. Executives detailed progress in the Permian Basin, Gulf of Mexico, and international ventures while outlining a confident outlook for 2026.
Chevron is significantly increasing crude exports from Venezuela to the United States, capitalizing on a special U.S. license and growing demand from Gulf Coast refineries, while new competitors enter the recently reopened market.
Chevron capped off a year of strategic execution with record global production and industry-leading free cash flow growth, while outlining ambitious expansion plans from the Caspian to the Caribbean.
