65/100BChevron stock forecast 2026–2030What is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Analysts' average 12-month price target for Chevron is 218.25, 0.3% above the current price of 217.68. Their targets range from 90.00 to 268.00.
Of the 20 firms that rated Chevron in the past 12 months, 14 rate it buy or strong buy, 5 hold and 1 sell or strong sell (each firm at its latest rating): a Buy consensus.
Analysts' 1-year price targets range from 90.00 to 268.00, with an average of 218.25.
| Buy | 14 | |
| Hold | 5 | |
| Sell | 1 |
12-month price target
| Highest target | 268.00 |
| Average target | 218.25 |
| Lowest target | 90.00 |
| Current price | 217.68 |
Chevron price target historyWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
Have analysts recently raised or lowered their Chevron price target and rating?
How analysts rate Chevron, month by monthWhat is the analyst rating? The analyst rating sums up what the analysts covering a stock recommend, from strong buy to strong sell, by the share of them rating it a buy.
14 of 20 firms rate it buy now, against 9 of 13 in December 2025.
Each month: every firm at its latest rating from the 12 months before. Strong buys count as buys, strong sells as sells.
Chevron analyst upgrades, downgrades and price targets
The latest rating change came on 5 November 2026, when Freedom Broker upgraded Chevron from Sell to Hold. The most recent new target came from Morgan Stanley on 2 November 2026: 230.00.
| Date | Firm | Rating | Price target | Change | Price then |
|---|---|---|---|---|---|
| 5 Nov 2026 | Freedom Broker | Upgraded · Sell → Hold | — | — | — |
| 2 Nov 2026 | Morgan Stanley Devin McDermott | Reiterated · Overweight | 218.00 → 230.00 | +5.5% | 235.52 |
| 2 Nov 2026 | Wells Fargo Sam Margolin | Reiterated · Overweight | 230.00 → 268.00 | +16.5% | 235.52 |
| 20 Oct 2026 | Goldman Sachs Neil Mehta | — | 216.00 → 241.00 | +11.6% | 224.45 |
| 12 Oct 2026 | Mizuho Securities Nitin Kumar | — | 224.00 → 234.00 | +4.5% | 211.98 |
| 8 Oct 2026 | UBS Manav Gupta | Reiterated · Buy | 250.00 → 235.00 | -6.0% | 205.19 |
| 25 Sept 2026 | HSBC | Reiterated · Buy | 250.00 → 90.00 | -64.0% | 205.58 |
| 25 Sept 2026 | UBS | — | 220.00 → 250.00 | +13.6% | 205.58 |
| 25 Sept 2026 | HSBC Kim Fustier | — | 180.00 → 250.00 | +38.9% | 205.58 |
| 3 Sept 2026 | BMO Capital Phillip Jungwirth | Reiterated · Outperform | 190.00 → 235.00 | +23.7% | 211.76 |
| 3 Sept 2026 | Piper Sandler John Royall | Reiterated · Overweight | 207.00 → 243.00 | +17.4% | 211.76 |
| 3 Sept 2026 | Wells Fargo | Reiterated · Overweight | 222.00 → 230.00 | +3.6% | 211.76 |
| 19 Aug 2026 | Morgan Stanley | Reiterated · Overweight | 214.00 → 218.00 | +1.9% | 207.35 |
| 17 Aug 2026 | Barclays | Reiterated · Equal Weight | 216.00 → 208.00 | -3.7% | 200.01 |
| 3 Aug 2026 | Bernstein | Reiterated · Market Perform | 204.00 → 209.00 | +2.5% | 194.66 |
| 3 Aug 2026 | Mizuho Securities Nitin Kumar | — | 230.00 → 224.00 | -2.6% | 196.87 |
| 3 Aug 2026 | Barclays | Reiterated · Equal Weight | 213.00 → 216.00 | +1.4% | 196.87 |
| 23 Jul 2026 | Piper Sandler | — | 174.00 → 207.00 | +19.0% | 192.98 |
| 10 Jul 2026 | Jefferies Lloyd Byrne | — | 189.00 → 216.00 | +14.3% | 174.68 |
| 2 Jul 2026 | Wolfe Research Doug Leggate | Upgraded · Peer Perform → Outperform | 210.00 | — | 165.70 |
| 27 May 2026 | Mizuho Securities Nitin Kumar | Reiterated · Outperform | 206.00 → 230.00 | +11.7% | 184.69 |
| 26 May 2026 | Barclays | Reiterated · Equal Weight | 192.00 → 213.00 | +10.9% | 191.43 |
| 22 May 2026 | Morgan Stanley Devin McDermott | Reiterated · Overweight | 212.00 → 214.00 | +0.9% | 190.51 |
| 11 May 2026 | Bernstein | Reiterated · Market Perform | 172.00 → 204.00 | +18.6% | 181.45 |
| 6 May 2026 | Goldman Sachs | — | 216.00 | — | 192.66 |
| 4 May 2026 | UBS Josh Silverstein | Reiterated · Buy | 212.00 → 220.00 | +3.8% | 190.54 |
| 4 May 2026 | Barclays Betty Jiang | Reiterated · Equal Weight | 166.00 → 192.00 | +15.7% | 190.63 |
| 17 Apr 2026 | BNP Paribas Lucas Herrmann | Upgraded · Neutral → Outperform | 174.00 | — | 188.18 |
| 9 Apr 2026 | Wells Fargo | Reiterated · Overweight | 178.00 → 222.00 | +24.7% | 190.36 |
| 27 Mar 2026 | Morgan Stanley Devin McDermott | Reiterated · Overweight | 174.00 → 212.00 | +21.8% | 211.15 |
| 17 Feb 2026 | Melius Research | — | 205.00 | — | 183.71 |
| 3 Feb 2026 | Argus Research | — | 203.00 | — | 177.06 |
| 2 Feb 2026 | UBS | — | 186.00 → 212.00 | +14.0% | 174.30 |
| 2 Feb 2026 | BMO Capital | — | 190.00 | — | 177.01 |
| 2 Feb 2026 | HSBC | — | 169.00 → 180.00 | +6.5% | 177.01 |
| 23 Jan 2026 | Morgan Stanley | Reiterated · Overweight | 174.00 | — | 167.47 |
| 21 Jan 2026 | Barclays Betty Jiang | Reiterated · Equal Weight | 158.00 → 166.00 | +5.1% | 167.55 |
| 16 Jan 2026 | Scotiabank | — | 165.00 → 168.00 | +1.8% | 166.98 |
| 14 Jan 2026 | Jefferies Lloyd Byrne | Reiterated · Buy | 189.00 | — | 167.08 |
| 8 Jan 2026 | Piper Sandler Ryan Todd | Reiterated · Overweight | 174.00 | — | 155.20 |
| 6 Jan 2026 | Freedom Capital Markets | Downgraded · Hold → Sell | — | — | — |
| 6 Jan 2026 | Freedom Broker | Downgraded · Hold → Sell | — | — | — |
| 5 Jan 2026 | Bernstein | Reiterated · Market Perform | 172.00 | — | 155.87 |
| 12 Dec 2025 | Mizuho Securities | Reiterated · Outperform | 191.00 → 206.00 | +7.9% | 150.71 |
| 1 Dec 2025 | HSBC | Upgraded · Hold → Buy | 169.00 | — | 151.49 |
Chevron EPS and revenue estimatesWhat are estimate revisions? Estimate revisions are the changes analysts make to their EPS and revenue forecasts for the years ahead. They show whether expectations are rising or falling.
Analysts expect Chevron's EPS to grow 23.8% a year until 2028.
Analysts expect Chevron's revenue to grow 5.6% a year until 2028. Over the last 5 years it grew 14.3% a year, and over the last 3 years it fell 7.9%.
Revenue
EPS
Does Chevron beat earnings estimates?What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
On average, analysts' EPS estimate was 9.8% off the result, either way, and their revenue estimate 4.5%, over the last 12 quarters.
- EPS beats
- 88 / 136
- Revenue beats
- 76 / 120
- Average EPS surprise, last 12What is an earnings surprise? An earnings surprise is how far a company's reported EPS or revenue came above or below the analysts' average estimate, in percent.
- +5.2%
- Since
- January 1993
| Quarter | Report date | EPS estimate | Reported EPS | Surprise | Revenue estimate | Reported revenue | Surprise |
|---|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Oct 2026 | 4.87 | 5.28 | +8.4% | 61.82B | 67.80B | +9.7% |
| Q2 FY2026 | 31 Jul 2026 | 5.55 | 6.06 | +9.2% | 62.72B | 70.06B | +11.7% |
| Q1 FY2026 | 1 May 2026 | 1.00 | 1.41 | +41.0% | 51.86B | 48.61B | -6.3% |
| Q4 FY2025 | 30 Jan 2026 | 1.41 | 1.52 | +7.8% | 46.79B | 46.87B | +0.2% |
| Q3 FY2025 | 31 Oct 2025 | 1.69 | 1.85 | +9.5% | 48.94B | 48.17B | -1.6% |
| Q2 FY2025 | 1 Aug 2025 | 1.73 | 1.77 | +2.3% | 43.87B | 44.38B | +1.2% |
| Q1 FY2025 | 2 May 2025 | 2.16 | 2.18 | +0.9% | 48.25B | 47.61B | -1.3% |
| Q4 FY2024 | 31 Jan 2025 | 2.42 | 2.06 | -14.9% | 46.60B | 52.23B | +12.1% |
| Q3 FY2024 | 1 Nov 2024 | 2.42 | 2.51 | +3.7% | 48.86B | 48.93B | +0.1% |
| Q2 FY2024 | 2 Aug 2024 | 2.93 | 2.55 | -13.0% | 50.66B | 49.57B | -2.1% |
| Q1 FY2024 | 26 Apr 2024 | 2.87 | 2.93 | +2.1% | 48.42B | 46.58B | -3.8% |
| Q4 FY2023 | 2 Feb 2024 | 3.29 | 3.45 | +4.9% | 47.17B | 48.93B | +3.7% |
Chevron stock price 2026–2030: scenariosHow are the stock price scenarios calculated? Bear, base and bull prices for the years ahead: the analysts' EPS estimates times the lowest, average and highest P/E of the stock today and at its last five year ends, or of its peers.
If Chevron's earnings grow at the 19.8% a year analysts expect to FY2028, then 15.0% a year, it would earn about 16.65 a share in FY2030. At the P/E it has traded at over the last five years (9.8 to 22.9) that is 162.81 to 381.68 a share, or 252.26 at its average P/E of 15.1. This is arithmetic on the analysts' estimates, not a prediction.
| Fiscal year | EPS | Bear | Base | Bull |
|---|---|---|---|---|
| FY2026 | 18.18 | 177.78 | 275.45 | 416.77 |
| FY2027 | 16.31 | 159.45 | 247.05 | 373.80 |
| FY2028 | 12.59 | 123.11 | 190.74 | 288.60 |
| FY2029 (extrapolated) | 14.48 | 141.57 | 219.35 | 331.89 |
| FY2030 (extrapolated) | 16.65 | 162.81 | 252.26 | 381.68 |
Each year's EPS is the analysts' consensus to FY2028; the years after grow 15.0% a year (the analysts' growth, at most 15%). Bear, base and bull apply the lowest, average and highest P/E of today and the last five fiscal year ends, leaving out any above 60, the mark of a year of collapsed earnings (9.8, 15.1, 22.9).
Is Chevron stock undervalued or overvalued?How does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
Chevron's P/E of 15.9 is around the middle of its 5-year range (8.1 to 34.1, median 15.4). It is in line with its own history. Fair value is not a reliable guide for Chevron: its earnings swing (EPS fell 31.8% in FY2025), so its usual P/E would mislead. Its forward P/E, on the consensus for FY2026, is 12.0.
- Price to earnings ratio (TTM)What is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 15.88
- Five-year median P/EWhat is the P/E ratio? The P/E ratio divides a share's price by its earnings per share over the last year: what you pay for each dollar of profit.
- 15.38
- Five-year P/E range
- 8.1 – 34.1
- Forward P/E (FY2026)What is the forward P/E ratio? Forward P/E divides a share's price by the earnings per share analysts expect in the coming year, rather than last year's actual earnings.
- 11.97
- PEG ratioWhat is the PEG ratio? The PEG ratio divides the P/E by the yearly earnings growth analysts expect, to show how much you pay for each point of growth.
- 0.80
- To the average targetWhat is an analyst price target? A price target is the price an analyst expects a stock to reach in 12 months. Arincen shows the average, high and low targets and the upside to the average.
- +0.3%
Most undervalued US stocksHow does Arincen work out a stock's fair value? Fair value is our estimate of a share's price at the P/E the company usually trades at, with a low to high range around it.
| Stock | Price | Fair value | Upside |
|---|---|---|---|
| 35.775 | 71.4258Price 35.78193 | +99.7% | |
| 28.900 | 56.2634Price 28.9096 | +94.7% | |
| 159.360 | 305.52159Price 159.36396 | +91.7% | |
| 155.640 | 297.58169Price 155.64471 | +91.2% | |
| 107.135 | 200.51107Price 107.14248 | +87.2% | |
| 127.130 | 237.24178Price 127.13297 | +86.6% | |
| 161.170 | 300.39225Price 161.17375 | +86.4% |
Furthest below the fair value on each stock's page, updated every day.