Barclays Raises PT on Chevron Corporation (CVX) to $180 From $172 – Here’s Why

Chevron Corporation (NYSE:CVX) is one of the best oil stocks to buy right now. On March 13, Barclays raised the price target on Chevron Corporation (NYSE:CVX) to $180 from $172 and reaffirmed an Overweight rating on the shares. The firm told investors in a research note that it raised its 2026 oil price estimates on the Iran war, and believes that the cash flow tailwinds are still underappreciated for the exploration and production group. Barclays also told investors that although the oil spike is not likely to last for long, the market is underappreciating the cash flow benefit and the “durable benefit” it will have on the group’s capacity to lift cash returns beyond the conflict.

Chevron Corporation (NYSE:CVX) also received a rating update from Piper Sandler on March 12, with the firm adjusting the price target on the stock to $242 from $179 and reiterating an Overweight rating on the shares. Piper said that although the duration of outages in the Middle East remains highly uncertain, the firm’s commodity macro team, led by Global Energy Strategist Jan Stuart, expects the 2026 crude balances to tighten by about 2.0 Mb/d compared to prior expectations.

Chevron Corporation (NYSE:CVX) provides oil and gas energy solutions, including crude oil and natural gas, the manufacture of transportation fuels, petrochemicals, lubricants, and additives, and the development of technologies that boost business and the industry. Its operations are divided into the Upstream and Downstream segments.

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