Chevron: A Reliable Dividend and Growth Opportunity

Chevron Corporation (NYSE:CVX) is currently among the top 15 passive income stocks for buying.

On November 10, it was reported that Piper Sandler updated Chevron's price target to $168. The previous target was $169. The company emphasized that Chevron's analyst day typically does not change expectations, stating that the updates are largely within a "reasonable" framework. Piper expressed that the announcements are marginally positive and relatively cautious.

The company acknowledged that some investors may continue to have concerns regarding growth post-2030, but highlighted that investment decisions regarding large energy companies are fundamentally based on sustainability and the growth of shareholder returns. Chevron is expected to lead its competitors with a forecasted 15% free cash flow component per share between 2025 and 2030.

Chevron Corporation (NYSE:CVX) has been a reliable dividend company, increasing dividend payments for 38 years. The company announced a five-year plan targeting sustainable cash flow and profit growth by 2030. It also plans to reduce annual investments to between $18 billion and $21 billion. The company anticipates annual growth of over 10% in adjusted free cash flow by 2030.

Leading its competitors in dividend growth per share over the past 25 years, Chevron Corporation (NYSE:CVX) plans to repurchase shares valued between $10 billion and $20 billion. This plan anticipates average Brent crude oil prices to be between $60 and $80.

Chevron Corporation (NYSE:CVX) is a multinational energy company engaged in exploring, producing, refining, and selling oil and natural gas products, including transportation fuels and lubricants.

When considering Chevron's investment potential, we believe certain artificial intelligence stocks have higher value growth potential and carry less risk.