What is Chevron's (CVX) projected free cash flow growth rate?

Chevron Corporation is projected to deliver a 15% annual free cash flow per share CAGR from 2025 to 2030.

How much does Chevron (CVX) plan to spend on share buybacks?

Chevron plans to repurchase $10 to $20 billion worth of its own shares per year through 2030 at average Brent prices of $60 to $80.

Why is Chevron (CVX) considered a top passive income stock?

Chevron has increased its dividend payouts for 38 consecutive years, and plans to continue its track record of leading its peers in dividend per share growth with an average annual increase of 7% over the past 25 years.

Home / Business and Economy / Chevron Targets 15% Annual FCF Growth, Boosts Shareholder Returns

Chevron Targets 15% Annual FCF Growth, Boosts Shareholder Returns

17 Nov, 2025

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Summary

Piper Sandler maintains Overweight rating on Chevron
Chevron projects 15% annual free cash flow growth through 2030
Company plans $10-$20B in annual share buybacks at $60-$80 Brent

Chevron Targets 15% Annual FCF Growth, Boosts Shareholder Returns

As of November 17, 2025, Chevron Corporation (NYSE:CVX) remains a top pick among energy stocks, with Piper Sandler maintaining an Overweight rating on the company. The firm has slightly lowered its price target for Chevron to $168 from $169, but emphasizes that the company's recent investor update was largely positive and conservative.

Chevron is expected to deliver impressive financial performance in the coming years, with a projected free cash flow per share CAGR of 15% from 2025 to 2030. The company has unveiled a five-year plan targeting steady cash flow and profit growth through 2030, while lowering its capital expenditure guidance to $18-$21 billion annually.