Chevron shares reached a 52-week high of $178.82 on January 30, 2026. The stock has gained 16.1% year-to-date. Strong fourth-quarter 2025 earnings exceeded analyst expectations. The company raised its dividend by 4% to $1.78 per share.
Chevron reported record global production levels. Management plans to increase output in Venezuela by approximately 50%. The company will fund the Venezuelan expansion using existing cash flows.
The recent rally has pushed Chevron’s forward earnings multiple above peers ExxonMobil and Shell. The Zacks Consensus Estimate forecasts a 13.2% year-over-year decline in 2026 earnings per share. Analysts suggest the current stock price reflects most positive catalysts. Stretched valuations relative to weakening earnings fundamentals may leave the stock vulnerable to pullbacks.