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CVX

Chevron Corp

NYSE: CVX · ENERGY · OIL & GAS INTEGRATED

$193.31
+0.57% today

Updated 2026-04-29

Market cap
$382.88B
P/E ratio
28.99
P/S ratio
2.07x
EPS (TTM)
$6.63
Dividend yield
3.63%
52W range
$129 – $215
Volume
12.7M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Chevron Corp (CVX) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$193.31
Consensus
$191,800.00
+99118.87%
2030 Target
$481.52
+149.09%
DCF
$125.03
-54.61% MoS
20 analysts:
10 Buy4 Hold2 Sell

Management guidance

No specific CEO revenue guidance for 2026-2030 found in available data. Management has highlighted strong project pipeline including Hess acquisition integration and Venezuela operations expansion, but no quantified revenue targets were disclosed in recent earnings calls or investor communications.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$601.90
$238.5B Rev × 5x P/S
Base case (2030)
$481.52
$238.5B Rev × 4x P/S
Bear case (2030)
$361.14
$238.5B Rev × 3x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$196.9B$193.4B$184.4B$217.9B$208.7B$213.0B$218.0B$238.5B
Revenue growth—-1.8%-4.6%18.0%-4.2%2.4%2.3%6.0%
EPS$13.13$9.83$7.29$8.64$9.64$10.20$10.80$13.45
P/S ratio———1.0x1.0x12.0x12.0x4.0x
Implied price———$112.56$112.56$1,273.41$1,313.20$481.52

Catalysts & risks

Growth catalysts
+ Hess acquisition integration driving production growth through 2027-2028
+ Venezuela heavy oil expansion (asset swap with PDVSA) increasing supply access
+ Strait of Hormuz geopolitical premium sustaining elevated oil/gas prices ($90-$100+ WTI environment)
+ LNG expansion projects reaching production (Wheatstone ramping post-cyclone repairs)
+ Gulf of Mexico discoveries (Bandit prospect) adding reserve replacement and 2027+ production
+ Strong cash flow generation supporting shareholder returns and reinvestment
Key risks
- Oil price volatility — WTI could drop to $75/bbl if Hormuz tensions resolve and geopolitical premium evaporates
- Middle East conflict de-escalation reducing supply constraints and price support
- Energy transition headwinds and long-term demand uncertainty for fossil fuels
- Integration execution risk on Hess acquisition and Venezuela joint venture expansion
- Regulatory/sanctions risk on Venezuela operations if U.S. policy shifts
- Refining margin compression in downstream if crude supply normalizes

Methodology

Chevron Corp's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 20 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 24, 2026.