Morgan Stanley Maintains Buy Rating on Chevron Corporation
Morgan Stanley has reiterated its buy rating on Chevron Corporation with a price target of $210, a 26.69% upside from the current price.
Key Points
- Morgan Stanley reiterated its buy rating on Chevron Corporation with a price target of $210 on June 29, 2026.
- Morgan Stanley's $210 price target implies 26.69% upside from Chevron Corporation's ($CVX) current $165.76 share price.
- Chevron's stock traded near $171.06 on Monday; it has a market cap of $340.68 billion and a P/E ratio of 29.75.
- Insider activity includes several buys, and other analysts like Mizuho and UBS also maintain buy ratings with targets of $230 and $220, respectively.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
Morgan Stanley's analyst Devin McDermott reiterated a buy rating on Chevron Corporation (NYSE:CVX) on June 29, 2026, maintaining a price target of $210. This reflects continued confidence in the oil giant's performance.
Morgan Stanley vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
Chevron Corporation Stock Down 17.9%
Shares of NYSE:CVX traded near $171.06 on Monday. Chevron Corporation has a market capitalization of approximately $340.68 billion. It sports a P/E ratio of 29.75 and a forward P/E of 13.55, indicating investors' expectations of future earnings growth. The company's beta of 0.472 suggests it is less volatile than the broader market. Over the past 52 weeks, the stock has ranged from $142.40 to $214.71, with a 50-day moving average of $185.47 and a 200-day moving average of $172.23. Chevron's financial health is supported by a current ratio of 1.094 and a quick ratio of 0.725, along with a debt-to-equity ratio of 23.99.
$CVX price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Chevron reported a revenue of about $185.74 billion with a modest revenue growth of 2.3%. The company achieved an earnings per share (EPS) of $5.75. Its net margin stands at 5.93%, and it has a return on equity (ROE) of 6.64%. Investors can expect the next earnings release around July 31, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
-
Forward outlook
5 analysts raised price targets.
-
EPS & revenue
EPS beat estimates by 46.5%. Revenue missed estimates by 9.6%.
-
Profit surprise
EBITDA beat by 3 percent. Operating income missed by 7 percent.
-
Pre-earnings setup
Expectations were about average.
-
Analyst signal
5 target raises.
-
Earnings quality
Gross margin down 19.4 points. Operating margin down 2.5 points. Positive free cash flow.
Earnings Call Summary
The quarter delivered $1.41 per share in adjusted earnings, beating consensus, but revenue of $47.6 billion fell short of the $52.6 billion street expected. The shortfall was mainly a revenue recognition timing issue from a sharp rise in commodity prices in March, which created about $3 billion in unfavorable mark-to-market effects on derivatives. Core operations remain strong, with Guyana and TCO running at full rates, Asian refineries running hard on Chevron crude, and the company capturing real value from integrating Hess assets. Management stayed disciplined, saying it is too early to change strategy after eight weeks of Middle East conflict.
Guidance Chevron held its full-year capital spending at $18 billion to $19 billion and reaffirmed production growth of 7 percent to 10 percent. The company raised affiliate distribution expectations to over $2 billion above first quarter because TCO, CPChem, and Angola LNG are running strong. At $70 per barrel Brent, cash flow will be solid, and higher prices would boost results further.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
Chevron offers an attractive dividend, with an annual rate of $7.12, yielding 4.16%. The dividend payout ratio is 120.38%, reflecting the company's commitment to returning value to shareholders.
Insider Buying and Selling at Chevron Corporation
Recent insider activity at Chevron includes several purchases. On June 1, 2026, Cynthia Warner bought 20 shares at an average price of $185.83. On the same day, Marillyn Hewson acquired 209 shares at the same price. Earlier, on May 27, 2026, Enrique Hernandez Jr., Marillyn Hewson, Thomas Horton, and Debra Reed each bought 1,272 shares.
Analysts Set New Price Targets
On June 29, 2026, Morgan Stanley maintained its buy rating on Chevron with a price target of $210. Other firms have also shown confidence in Chevron's prospects. Mizuho reiterated its buy rating with a higher target of $230 on May 27, 2026. UBS also maintained a buy rating with a target of $220 on May 4, 2026. The consensus among 22 analysts is a buy recommendation, with an average target price of $217.14.
About Chevron Corporation
Chevron Corporation is a major player in the energy sector, headquartered in Houston, Texas. It operates through its Upstream, Downstream, and All Other segments, engaging in the exploration, production, and transportation of crude oil and natural gas. The company also refines crude oil into petroleum products and manufactures renewable fuels and petrochemicals. Led by CEO Michael K. Wirth, Chevron employs over 43,000 people and has a significant presence in North America, South America, Europe, Africa, Asia, and Australia.
Bottom Line
Morgan Stanley's reiteration of a buy rating on Chevron highlights the firm's confidence in the company's future performance. As one of the leading energy companies, Chevron's solid financials and strategic operations continue to attract investor interest. It's important to remember that analyst ratings are forward-looking and subject to change based on market conditions and company performance.
Get Chevron Corporation alerts
New 13F filings, insider trades, and analyst moves on $CVX, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.