Chevron Corporation (NYSE:CVX) is included among the The 15 Best High-Yield Stocks to Buy.
On January 16, Scotiabank raised its price target for Chevron Corporation (NYSE:CVX) to $168 from $165. The company maintained a sector perform rating on the stock. The bank said the change is part of a broader update to its coverage of large-cap U.S. integrated oil, refining and exploration and production companies. Scotiabank also expects this quarter’s earnings outlook to be fairly clean, primarily because there haven’t been any major winter weather events to disrupt operations. Looking ahead, the firm believes investors will focus on whether recent market volatility leads companies to adjust their 2026 forecasts and whether more exploration and production players begin to implement cost reduction programs.
At the same time, Chevron is also drawing attention for its activity in Venezuela. On January 16, Reuters reported that the United States is moving quickly to grant Chevron a broader license that would expand its ability to operate and produce oil in the country, according to US Energy Secretary Chris Wright. The report says the United States plans to allow Chevron to pay the Venezuelan government in cash instead of crude oil, which would be a major change as it would allow Chevron to sell all the oil it produces there.
Under current licensing terms, Chevron has been paying Venezuela royalties and taxes using oil, not cash. That setup has effectively limited the company’s exports to about half of what it produces domestically. Reuters also noted that the Trump administration has been working to restart Venezuela’s oil industry after Nicolás Maduro was removed from power earlier this month, and Chevron is expected to receive an updated license that could support increased production and exports.
Chevron Corporation (NYSE:CVX) is one of the world’s largest integrated energy companies, producing oil and natural gas while manufacturing fuels, lubricants, petrochemicals and other energy-related products, as well as investing in new technologies to strengthen its operations.
While we recognize CVX’s potential as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that’s also benefiting significantly from Trump-era tariffs and the offshoring trend, check out our free report on best short-term AI stock.
READ NEXT: 13 Best Dividend Kings to Buy in 2026 and 14 Best Aristocrat Mid-Cap Dividend Stocks to Buy Now
Disclosure: None.