Analyst Cuts Chevron (CVX) Price Target to $179

Chevron Corporation (NYSE:CLC) is one of 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 oils, finished lubricants and fuel oil additives.

On January 2, Citi reduced 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 more than 9% from the current stock price, comes as the company updated its estimates to reflect macroeconomic conditions in the fourth quarter of 2024, which included “slightly” higher oil and gas prices and refining margins. However, the upstream sector also experienced higher downtime in the fourth quarter.

That said, Chevron Corporation (NYSE: CVX) is the American oil company that will benefit the most from the current scenario following the American military operation to seize Nicolas Maduro. President Trump has already made clear that regime change would allow U.S. energy companies to re-establish 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 allows it to produce and export oil despite recent geopolitical tensions and US sanctions. The oil and gas giant already has a presence in Venezuela, where it has about 25% of its operations, producing about 250,000 barrels per day.

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

While we recognize CVX’s potential as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for a hugely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the reshoring trend, check out our free report on the best AI stock in the short term.

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Disclosure: None.