Chevron Earnings Slide, But Guyana Oilfield May Fuel 2026 Rally

  • Chevron's disciplined capital allocation and Guyana assets make it resilient and attractive despite recent earnings pressure and oil price volatility. The pending Hess acquisition offers significant long-term upside, though legal uncertainty with Exxon remains a risk to the deal. Chevron is currently valued as if Hess dilution has already occurred, creating compelling 2026 upside potential with a $165.73 price target.