Chevron's Venezuela gambit looks smarter by the day
CVX•Chevron beat analysts' estimates for quarterly profit on Friday, helped by strong refining margins. The median price target among 28 brokerages is $235, while analysts cited the company's Venezuela operations as a potential advantage.
1. Analysts cite Venezuela position
Evercore ISI said Chevron started 2026 in a stronger position than many rivals, citing limited exposure to Strait of Hormuz disruptions and the increasing value of its Venezuela operations. Barclays and RBC Capital Markets said the company could benefit from a reopening or political change in Venezuela, while Morningstar said its decision to stay in the country gives it an edge over competitors and positions it for medium-term production growth.
