Chevron stock gets USD 250 target as HSBC keeps Buy rating

Published on 09/25/2026 at 16:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Chevron's Q2 FY2026 revenue reached USD 70.055 billion, up 56.3 percent year over year. Diluted EPS was USD 6.11, while the NYSE quote stood at USD 205.17 on September 25, 2026.

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Chevron (ISIN US1667641005) stock was trading at USD 205.17 on the NYSE on September 25, 2026 at 10:18 a.m. ET, down 0.23 percent from USD 205.65. According to Investing.com on September 25, 2026, HSBC raised its price target from USD 218 to USD 250 and kept its Buy rating.

HSBC lifts the price target

The new HSBC target stands 21.85 percent above Chevron's intraday price of USD 205.17. The analyst case is tied to Chevron's sensitivity to elevated oil prices, supported by its upstream exposure and liquids content.

HSBC also identified a counter-factor in lower 2027 US Henry Hub gas price assumptions, which affect Chevron more than several peers because of its gas and LNG exposure. The same assessment raised HSBC's Chevron cash-flow forecasts for 2026, 2027 and 2028 by 15 percent, 46 percent and 23 percent, respectively.

Q2 earnings show a sharp comparison

Chevron's latest reported quarter ended June 30, 2026. TickerScout reports total revenues and other income of USD 70.055 billion, up 56.3 percent from USD 44.82 billion in Q2 FY2025.

The earnings comparison was even wider: net income attributable to Chevron reached USD 12.072 billion, up 384.8 percent from USD 2.49 billion, while diluted EPS rose 321.4 percent to USD 6.11 from USD 1.45. Upstream earnings climbed 200.0 percent to USD 8.182 billion, and downstream earnings increased 560.5 percent to USD 4.868 billion.

Production supports the result

TickerScout states that worldwide production rose 20 percent year over year in Q2 FY2026, reflecting Hess assets and growth in the Permian Basin and Gulf of America. US refinery crude throughput reached 97 percent utilization, while favorable timing effects contributed USD 1.4 billion to the quarter's result.

The comparison requires caution because Q2 FY2025 preceded the Hess acquisition and crude prices were lower. For investors, the key test is whether production growth and oil sensitivity can sustain the earnings gap after timing effects normalize.

Chevron stock trades below its high

Chevron stock remained 5.79 percent below its 52-week high of USD 217.78 and 40.06 percent above its 52-week low of USD 146.49 on September 25, 2026. The intraday range was USD 203.49 to USD 207.24, with volume at 910,273 shares and market capitalization of USD 408.617 billion.