Bank of America Securities analyst Jean Ann Salisbury has maintained their bullish stance on CVX stock, giving a Buy rating today.
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Jean Ann Salisbury has given her Buy rating due to a combination of factors that highlight Chevron’s strong financial performance and strategic positioning. Chevron reported a robust second quarter in 2025, surpassing earnings expectations with a significant EPS and maintaining a consistent buyback rate. This performance was driven by strong refining and upstream production, despite operational challenges, and was further supported by higher free cash flow resulting from moderated capital expenditures and increased dividends from TCO.
Additionally, the successful closure of the Hess deal provides Chevron with promising production and capital expenditure guidance, aligning with expectations. The deal is expected to enhance Chevron’s free cash flow significantly by 2026, which, combined with efficient project execution in the Permian and TCO, positions the company well for future growth. Despite concerns in the oil market due to OPEC and recession uncertainties, Chevron’s strong balance sheet and strategic initiatives make it an attractive investment, leading to the reiterated Buy rating.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $171.00 price target.