Chevron Soars on Venezuela Expansion Plans and Analyst Upgrade

Chevron's stock price has reached near-record highs as investors weigh in on its expansion plans for Venezuela and an analyst upgrade.

The oil major's shares are trading at around $211-212, close to its 52-week peak of $214.71, with a market capitalization of approximately $418.43 billion as of September 3, 2026.

Chevron plans to invest more than $7 billion over the next five years in its Venezuelan ventures, aiming to double production from its current level to about 600,000 barrels per day.

Piper Sandler recently raised its price target for Chevron from $207 to $243 per share, citing the company's strong earnings power and oil price trends.