BofA Remains Bullish On Chevron Corporation (CVX)

Group 1 - Chevron Corporation is recognized as one of the 12 Best Performing Dow Stocks in 2025 [1] - BofA has reduced its price target for Chevron from $183 to $180 while maintaining a Buy rating, and HSBC has upgraded Chevron from Hold to Buy with a price objective of $169 [2] - The Gorgon Joint Venture partners have authorized the A$3 billion ($1.98 billion) Gorgon Stage 3 project, which aims to enhance LNG export operations by connecting existing infrastructure to new offshore natural gas fields [3][4] Group 2 - The Gorgon Stage 3 project includes the drilling of six exploration wells across two fields as part of a larger subsea tieback plan [3] - Chevron, along with Exxon Mobil and Shell, owns 97.3% of the Gorgon Project, with the remaining shares held by Osaka Gas, JERA, and MidOcean [4] - The project is expected to promote long-term local gas supply and LNG exports [4] Group 3 - Chevron Corporation operates as a massive American oil company involved in global exploration, production, and refining, functioning as an integrated energy business [5]