Chevron (CVX) Price Target Raised by $2 at Morgan Stanley

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Chevron Corporation (NYSE:CVX) manufactures and sells a scope of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium basal oil, finished lubricants, and substance lipid additives.

On May 22, Morgan Stanley expert Devin McDermott raised the firm’s terms people connected Chevron Corporation (NYSE:CVX) from $212 to $214, portion keeping an ‘Overweight’ standing connected the shares. The people boost represents an upside of astir 12% from the existent levels.

Chevron garnered affirmative attraction from a fig of analysts aft the institution exceeded net estimates successful its Q1 study earlier this month. The lipid major’s upstream concern received a important boost from the soaring lipid prices amid the US-Iran war.

However, it needs mentioning that portion analysts look bullish connected Chevron, Berkshire Hathaway trimmed its involvement successful the institution by selling astir $8 cardinal worthy of its banal successful the archetypal quarter. The Omaha-based conglomerate capitalized connected the soaring lipid prices, which pushed the American vigor giant’s banal to a grounds precocious (read much details here).

Carillon Tower Advisers, an concern absorption company, stated the pursuing regarding Chevron Corporation (NYSE:CVX) successful its Q1 2026 investor letter:

“Chevron Corporation (NYSE:CVX) shares contributed to the quarter’s show owed to the warfare successful the Middle East sending commodity prices of crude lipid and earthy gas, to multi-year highs. We estimation that 10% to 15% of full proviso could beryllium removed from the planetary marketplace for an extended period. Chevron has important vulnerability to spot commodity prices and is expected to payment instantly from a higher terms authorities successful its upstream vigor segment. Also, the institution is positioned to payment from improved refining margins. Chevron shares bespeak improved net and currency travel from this event.”

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