Chevron (CVX) Targets Expansion in Indonesia’s Oil and Gas Sector

Chevron (CVX, Financial) seeks to re-enter Indonesia for oil and gas exploration, focusing on blocks with significant gas reserves. Analysts predict an 18.10% upside potential for Chevron, with price targets ranging from $124 to $186. The company’s current brokerage recommendation indicates an “Outperform” status.

Chevron (CVX) has set its sights on Indonesia once again, exploring pathways to tap into the nation’s vast oil and gas reserves. According to the head of the country’s regulatory body, Chevron is keen on exploration blocks with an estimated 15 trillion cubic feet of gas reserves. This move comes after the company exited Indonesia in 2023, marking a potential strategic re-entry into the Asian market.

Wall Street Analysts Forecast

Wall Street analysts maintain a positive outlook for Chevron Corp (CVX, Financial). According to a survey of 21 analysts, the average one-year price target is set at $162.12. This forecast presents a potential upside of 18.10% from the current stock price of $137.27. The projections range from a low of $124.00 to a high of $186.00. Investors can access more detailed information on the Chevron Corp (CVX) Forecast page.

Brokerage Recommendations

Chevron Corp (CVX, Financial) enjoys an “Outperform” status from 24 brokerage firms, with an average recommendation score of 2.4. This score is part of a rating system spanning from 1 (Strong Buy) to 5 (Sell), indicating robust confidence in the company’s future performance.

GuruFocus Valuation

According to GuruFocus estimates, the GF Value for Chevron Corp (CVX, Financial) in the upcoming year is projected at $153.16. This valuation suggests a potential upside of 11.58% from the current price of $137.27. The GF Value calculation considers historical trading multiples, past business growth, and anticipated future performance. For further analysis, visit the Chevron Corp (CVX) Summary page.