Can Chevron Stock Hit $205 in 2026?

Group 1 - Chevron Corporation (CVX) is the only Western supermajor allowed to pump Venezuelan oil, experiencing significant market volatility with a nearly 4.5% drop following a 5.1% surge related to the U.S. capture of Venezuelan President Nicolás Maduro [1][2] - Chevron accounts for approximately 20% of Venezuela's crude oil production, positioning the company strategically to benefit from potential rebuilding of the Venezuelan oil industry, although analysts warn that achieving sustained production growth may take longer than expected [2][3] - The future of Venezuela's energy sector remains uncertain, with the timeline for rebuilding being highly speculative, as noted by analysts [3] Group 2 - Chevron is actively pursuing its interests in Venezuela, engaging in discussions with the U.S. government to expand its operating license, which could lead to increased crude exports [4] - The company is currently loading tankers at the fastest pace in seven months, indicating a proactive approach amidst tightening U.S. control over Venezuelan crude flows [4] - Chevron has a market capitalization of nearly $326.4 billion, with its shares rising approximately 7.86% over the past year and 5.94% in the last six months, driven by recent geopolitical developments [6] Group 3 - From a valuation perspective, Chevron's stock trades at 22.63 times forward adjusted earnings and 1.74 times sales, both metrics indicating a premium valuation compared to industry averages [7]