5 Best Value Stocks to Buy in 2026 According To Warren Buffett

2. Chevron Corporation (NYSE:CVX)

Berkshire Hathaway’s Stake Value: $19,837,131,131

Forward P/E: 18.66

On May 6, Goldman Sachs raised its price recommendation on Chevron Corporation (NYSE:CVX) to $216 from $211. It reiterated a Buy rating on the stock. In a research note, the firm said Chevron continues to stand out for its strong free cash flow outlook, supported by its upstream assets and possible upside from Venezuela. The analyst also pointed to Chevron’s disciplined capital allocation, ongoing cost-saving efforts, strong balance sheet, and focus on production growth across international markets and the US. The firm added that efficiency initiatives continue to support the company’s long-term strategy.

During Chevron’s Q1 2026 earnings call, Chairman and CEO Michael Wirth said the company delivered solid results in the quarter, helped by consistent execution and the strength of its diversified portfolio. He highlighted strong performance across several areas of the business. US production topped 2 million barrels of oil equivalent per day during the quarter, while the Gorgon and Wheatstone LNG facilities operated at full capacity.

Wirth also noted that TCO production exceeded 1 million barrels of oil equivalent per day. At the same time, Chevron’s US refineries posted record crude throughput levels. Speaking about Venezuela, Wirth said Chevron recently completed an asset swap agreement with PDVSA that raised the company’s equity stake to 49%. He added that Venezuela is expected to contribute roughly 1% to 2% of Chevron’s cash flow from operations. CFO Eimear Bonner said Chevron reported first-quarter earnings of $2.2 billion, or $1.11 per share. Adjusted earnings came in at $2.8 billion, or $1.41 per share.

Chevron Corporation (NYSE:CVX) is an integrated energy company involved in oil and gas production, fuel manufacturing, lubricants, petrochemicals, and related technologies. The company operates through its Upstream and Downstream segments.