Chevron lands UBS Buy call, shares back the Microsoft power deal

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-24, 05:46.

Chevron (US1667641005) is drawing attention on the NYSE after UBS reiterated a Buy rating and set a $220 price target. Investing.com said the note followed Chevron's 20-year power agreement with Microsoft, a deal that links the oil major to data-center power demand in Texas. Investing.com's report on the UBS note

UBS ties Chevron to power demand

UBS kept its Buy call in place after Chevron disclosed the Microsoft agreement through its Energy Forge One unit, according to the same report. The project is described there as a 20-year co-located power facility in West Texas, with a planned scale of about 2.7 gigawatts.

The reaction fits a broader analyst story around Chevron's push beyond pure upstream production. MarketBeat also flagged the Microsoft power-deal narrative as a reason behind the stock's recent tone, while crude weakness still weighs on the sector backdrop. MarketBeat's Chevron news page

What Tuesday's note adds

For Tuesday-style consensus reading, the UBS call matters because it puts a named research house behind the strategic angle. The cited report also mentions Chevron's operations in Greece and Argentina, giving the company a second line of geographic growth alongside Texas.

How Chevron makes money

Chevron's core business still centers on oil and gas exploration, production, refining and chemicals. The Microsoft-linked power project adds a newer revenue lane that reaches into electric infrastructure and long-term contracted supply.

Chevron shares on the NYSE

The Chevron shares (US1667641005) trade on the NYSE at $176.19, as of 2026-06-23, 15:58 Eastern. That closing price matches the MarketBeat quote page cited above.

This article is for information only and does not constitute investment advice.