|Bid||117.31 x 1000|
|Ask||118.10 x 800|
|Day's Range||117.45 - 118.74|
|52 Week Range||100.22 - 127.60|
|Beta (3Y Monthly)||0.82|
|PE Ratio (TTM)||15.25|
|Earnings Date||Oct 31, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||4.76 (4.04%)|
|1y Target Est||139.04|
The U.S. is warning Greece against hosting the Iranian oil tanker at the heart of an international dispute, and Saudi Aramco has reportedly chosen Lazard and Moelis as the investment firms to lead its IPO. Yahoo Finance's Jared Blikre has Tuesday's commodities report.
As part of the announcement at GATS, Chevron unveiled a new take on its mobile education center, the Delo Traveling Technology Lab, with interactive technologies, including virtual (VR) and augmented (AR) reality exhibits.
WASHINGTON/NEW YORK, Aug 22 (Reuters) - U.S. President Donald Trump, faced with mounting anger in the farm belt over policies that allow oil refineries to use less corn-based ethanol, summoned Cabinet members on Thursday to discuss ways to boost biofuel demand, four sources familiar with the matter said. Throughout his 2016 campaign that brought him to power, Trump championed ethanol but also courted the oil industry. Trump met with Agriculture Secretary Sonny Perdue and Environmental Protection Agency (EPA) Administrator Andrew Wheeler at the White House, the sources said.
One example of an inkling is the 2.70% gain this week for the Energy Select Sector Index (IXETR). The bullish ERX is designed to deliver triple the daily returns of the Energy Select Sector Index. While leveraged oil ETFs have a way of vexing traders, the funds remain popular with the risk-tolerant crowd and that is true of ERX.
Stocks rallied Wednesday after President Donald Trump implied he's open to making a deal with China on trade, but gains were capped by the release of minutes from the Federal Reserve's July meeting.Source: rafapress / Shutterstock.com Those minutes revealed that some of the central bank's governors pressed for a cut of 50 basis points last month, but they were obviously out-voted as the Fed proceeded with a reduction of just 25 basis points. What put a lid on today's upside for equities were comments that the July rate cut was not necessarily a precursor for more reductions."In their discussion of the outlook for monetary policy beyond this meeting, participants generally favored an approach in which policy would be guided by incoming information and its implications for the economic outlook and that avoided any appearance of following a pre-set course," according to the Federal Open Market Committee (FOMC).InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Marijuana Stocks to Ride High on the Farm Bill Currently, Fed funds futures are pricing in another 65 basis points of rate cuts this year, indicating there is room for markets to be left disappointed by the U.S. central bank.Still, the Nasdaq Composite notched an impressive gain of 0.90% today while the S&P 500 settled higher by 0.82%. The Dow Jones Industrial Average tacked on 0.93% amid broad-based strength in the blue-chip index. In late trading, 29 of the 30 Dow stocks were higher. Dow Winners GaloreWhile the Fed minutes may have lacked the punch investors were hoping for, there were some solid earnings reports (non-Dow stocks) out of the retail sector that gave market participants reason to be the oft-discussed recession is a long way from materializing. On that note, Nike (NYSE:NKE) was the Dow's best performer today with a gain of 2.83%.Sticking with consumer cyclical fare for a moment, McDonald's (NYSE:MCD) rose 2.25% after SunTrust analyst Jake Bartlett opined that the company's current Buy One, Get One (BOGO) for $1 promotion won't be a drag on profits. He's got a "buy" rating and $240 price target on McDonald's.The analyst's "research shows that McDonald's new offer is less promotional than its two for $5 mix-and-match deal that the company has cycled through in recent years--meaning McDonald's isn't meaningfully lowering the bar on prices in a way that would force rivals to discount as well," according to Barron's.I'm not saying it's all clear to wade into the energy sector, but it is encouraging to see more positive action out of oil giants Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), both of which traded higher today on the back of some bullish analyst chatter.BMO analyst Daniel Boy said Exxon and Chevron, the two largest U.S. oil companies are the "lowest risk" names and best of breed in the energy patch. Specific to Chevron, that's the second time in a matter of days an analyst has been cheery on the company.Shares of Boeing (NYSE:BA), the Dow's largest component, added 2.49% today on news that the company is looking to fill hundreds of temporary jobs related to getting the 737 MAX passenger back in the air. Wall Street is hoping that will happen by the end of this year and if it does, Boeing shares likely move higher. DJIA Bottom LineIt's easy to get wrapped in the aforementioned Fed "disappointment," if it can really be called that. Additionally, it's easy (and warranted) to be skeptical of President Trump's comments on deals with China because recent history shows this situation is fluid.Maybe what investors should be honing in on is the likelihood of recession. Look at Target (NYSE:TGT) earnings. That stock surged over 20% today on volume that was nearly seven times the daily average because it guided higher. Companies like Target don't guide higher when recessions are right around the corner.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Marijuana Stocks to Ride High on the Farm Bill * 8 Biotech Stocks to Watch After the Q2 Earnings Season * 7 Unusual, Growth-Oriented REITs to Buy for Your Portfolio The post Dow Jones Today: Let's Make a Deal appeared first on InvestorPlace.
Oil and gas stocks aren’t much loved by investors now, but BMO analyst Daniel Boyd thinks Chevron can outperform because of its strong presence in the Permian Basin and its sustained 5% dividend growth.
After a difficult few years in the oil space, one Wall Street analyst said Wednesday it may finally be time for investors to step in and buy shares of oil majors. The Analyst BMO Capital Markets analyst ...
Houston-based Motiva Enterprises LLC has reached a deal to buy a Port Arthur, Texas, petrochemical asset from Flint Hills Resources LLC, but it likely won’t be the last investment the company makes in petrochemicals. Motiva’s parent company, the state-owned Saudi Arabian Oil Co. — more commonly called Saudi Aramco — said at the end of 2018 that it planned to invest about $100 billion in the chemicals space over the next decade, said John Maselli, a senior research analyst for Wood Mackenzie. Saudi Aramco has already made a high-dollar move into the space with its $69.1 billion agreement to purchase a majority stake in Saudi Basic Industries Corp. “They’ve been investing a lot, but $100 billion is a lot of money, and they’ve still got a ways to go,” Maselli said.
Oil markets are on edge as trade war uncertainty has once again taken center stage, with Mike Pompeo’s harsh comments about Huawei counteracted by wavier extension for the Chinese tech giant
With the price of WTI crude oil having traded in a range between $50 and $60 for quite some time, it's easy to forget that the price is down around 27% since peaking last October. Exxon Mobil (NYSE:XOM) stock isn't exactly outperforming either, as it's down 12% for the past 12 months and has trailed competitor Chevron (NYSE:CVX) by 11% during that time.Source: Jonathan Weiss / Shutterstock.com That lagging performance has turned some analysts bearish on Exxon Mobil stock, but I don't see things like most other people do. If anything, the price differential between XOM stock and its competitors is one of the strongest reasons to start a long position in one of the petroleum industry's biggest and best-known mega-corporations of our lifetime. Buy and Hold XOM Stock for Terrific DividendsIt always bothers me when analysts completely ignore dividends and only focus on the price action of a stock. Dividends, as Warren Buffett has reminded us many times, are one of the keys to long-term wealth accumulation for smart investors. And if any company deserves to call itself a dividend aristocrat, it's Exxon Mobil.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Undervalued Stocks With Breakout Potential For a basis of comparison, we can compare the dividend payout of XOM stock to its chief rival, CVX. Chevron's dividend yield is quite decent at 4.1%, but Exxon Mobil is the clear winner in that category at 5%. It's also worth noting that while Chevron's dividend payout ratio (defined as the company's dividends per share divided by its earnings per share) is a perfectly respectable 58%, Exxon Mobil wins again with a dividend payout ratio of 76%, which is simply outstanding. An Analyst Weighs inIt's all over the financial news that famous British bank and analyst firm Barclays has given Chevron an overweight rating while they've only given Exxon Mobil stock an equal weight rating. That's the equivalent of declaring that CVX is a much better buy than XOM stock right now. I don't concur with Barclay's unfavorable comparison of Exxon Mobil as a long-term portfolio allocation.In defense of her position, Barclays analyst Jeanine Wai explained in a note that Chevron is well-positioned to return significant free cash flow. This brings me back to my previous point, which is that a very healthy 5% dividend yield is precisely what I would call a "significant" flow of cash to shareholders. This is cash deposited into my brokerage account, which I will gladly collect and reinvest right back into more XOM stock.Wai also projects that drilling in the Permian Basin will provide positive cash flow for Chevron in the first quarter of 2020. However, Exxon Mobil is also aggressively drilling in the Permian Basin, with a cash-flow-positive target of 2021. The target is bit later than Chevron, but also a realistic timetable. In any case, no one is doubting that Exxon Mobil has plenty of capital available to drill in the Permian, and the company is planning to produce the equivalent of around 1 million barrels of oil from the region per day. Clearly, there's no slowing down for XOM regardless of the stock price. The Bottom Line on Exxon Mobil StockAs Wai correctly observed, "Energy is currently one big 'Show-me Story,'" suggesting that it's up to each company individually as well as the sector as a whole to prove themselves and justify higher stock valuations. Just as oil itself has been under price pressure in the past year, XOM stock needs to dig itself out of the hole it's created. And that's going to require lots of capital and a strong focus on the Permian. A rebound in the price of crude oil certainly wouldn't hurt, either.I believe that all of these issues will resolve themselves in the near future and Exxon Mobil stock shares will rebound sharply. Most importantly, unlike a certain British analyst, I don't feel the need to compare XOM to any of its rivals. It's a great company on its own, and shareholders can purchase shares with confidence, enjoy the dividends and profit handsomely when the oil price eventually breaks out.As of this writing, David Moadel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Fill Up on Exxon Mobil Stock Now for an Imminent Rebound appeared first on InvestorPlace.
The oil and gas sector on the Forbes 2019 list of the world’s biggest public companies saw the largest profit growth among the top 10 sectors on the list
Usually, a headline like that would spell doom for stocks, but that wasn't the case Monday. Major U.S. equity benchmarks rallied even as President Donald Trump had some, shall I say, "words of encouragement" for the Federal Reserve."The Fed Rate, over a fairly short period of time, should be reduced by at least 100 basis points, with perhaps some quantitative easing as well," said the president on Twitter (NYSE:TWTR). "If that happened, our Economy would be even better, and the World Economy would be greatly and quickly enhanced-good for everyone!"President Trump has a long history of moving markets via Twitter, but that wasn't necessarily the case Monday when it comes to the dollar, which he has long complained is too strong. The Invesco DB US Dollar Index Bullish Fund (NYSEARCA:UUP), which tracks the greenback against a basket of other major currencies, closed modesty higher and just a third of a percent below its 52-week high. UUP is up about 2% this month, indicating Fed rate cuts aren't always the elixir to quell a strong dollar.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 10 Cheap Dividend Stocks to Load Up On Despite the dollar firming again today, the plenty of export-sensitive sectors and individual names rallied, helping the Nasdaq Composite to a gain of 1.35% while the S&P 500 added 1.21%. The Dow Jones Industrial Average started the week higher by 0.96% with just two of its 30 components finishing lower on the day. Be Careful With These Dow WinnersTwo of the best performers in the Dow today may require some caution. Sure, it was nice to see Cisco Systems (NASDAQ:CSCO) rally after the network gear maker was drubbed last week following disappointing guidance on its earnings call, but Monday's bounce may be one of the dead cat variety.Similar caution may be warranted with chemicals maker Dow (NYSE:DOW), which was the second-best Dow stock today behind Cisco. Again, it's nice to see a cyclical, tariff-sensitive name in the green today, but the stock was downgraded last Friday to "neutral" by Bank of America Merrill Lynch with that bank also paring its price target on Dow shares to $44 from $55.Of the 17 analysts rating shares of Dow, just six have "buy" ratings on the name while 11 have the equivalent of a "hold" on the stock. DJIA Earnings NoteI've been mentioning The Home Depot (NYSE:HD) recently because the company reports earnings tomorrow, and today's gain of 2.11% suggests trades were buying the name in advance of that report. There was some elevated options activity in Home Depot today, too, but history suggest traders should be careful with the home improvement giant post-earnings."Looking into HD's earnings history, the stock has closed lower the day after earnings in all but two of the past eight quarters, though the reaction to Home Depot's most recent report in May was positive," according to Schaeffer's Investment Research. "Over the past two years, the shares have swung an average of 1% the day after earnings, regardless of direction. This time around, the options market is pricing in a larger-than-usual 6% swing for Tuesday's trading." Some Good Dow NewsI've mentioned a few times this year that alternative energy stocks and ETFs are really weighing on the traditional energy sector, so with that in mind, it was nice to see Chevron (NYSE:CVX) jump 1.68% today on some bullish analyst chatter. Barclays started coverage of Chevron today with an "overweight" rating and a $145 price target. That price target implies significant upside from today's close just under $118."Chevron is well positioned to both return significant free cash flow to shareholders and fund its…compound annual growth rate guidance," according to the bank. Dow Jones Bottom LineIn addition to the aforementioned Twitter action by President Trump, today's upside was the product of familiar themes: expectations that more Fed rate cuts are coming and that the U.S. and China might be able to make some headway on the trade front.Speaking of the Fed, Chairman Jerome Powell speaks in Wyoming late this week, so it's safe to say all eyes and ears will be on that speech regarding rate cut clues.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Dow Jones Today: Trump's Twitter Targets the Fed … Again appeared first on InvestorPlace.
It’s the black gold of Permian Basin crude from West Texas that fuels the battle between Big Oil giants Chevron Corporation (NYSE: CVX) and Exxon Mobil Corporation (NYSE: XOM), but for Barclays it’s the green of cash that sets the two apart for investors. Barclays analyst Jeanine Wai initiated coverage of Chevron with an Overweight rating and a $145 price target.
West Texas’s Permian Basin is the key driver for shares of both Chevron Corp. and Exxon Mobil Corp., but Chevron has an edge over Exxon due to its “superior” cash position, analysts at Barclays say.
Energy stocks have made little progress in 2019, but Barclays argues that Chevron can stand out despite the sector’s difficulties.
Chevron rose after an analyst at Barclays initiated coverage of the oil and gas company with an overweight rating and a stock price target of $145.
A weekend attack on a Saudi oil facility by Yemeni separatists sends oil prices higher. Here's a rundown on big winners and losers from the oil price rally.
The cover story in this weekend's Barron's offers stock picks for an energy sector rebound. Other featured articles discuss how the trade war is hitting tech's bottom line and why banks are not an alternative ...