The Energy Select Sector SPDR Fund (NYSEARCA:XLE) has had a volatile two months.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Futures are trading mixed as we prepare to finish the last full week of the second quarter.
While the hopes for a permanent cease-fire and a cessation of hostilities are the ultimate end-game plan for Iran and the Middle East, the reality is that while spot prices have plummeted to the lowest level since March, there will be an incredible amount of work and resources to put the supply chain and the storage market back to pre-war levels.
If you are reading the news and thinking the reopening of the Strait of Hormuz ends today's oil problems, think again. Shipping has started to resume, but normal flows may take weeks or months to recover as markets work through disrupted logistics, damaged infrastructure and depleted inventories.
ConocoPhillips provides global diversification and scale through its massive international exploration and production operations. Viper Energy offers a focused royalty model that captures high-margin growth from the prolific Permian Basin.
ConocoPhillips (COP) closed the most recent trading day at $107.74, moving 3.12% from the previous trading session.
ExxonMobil, ConocoPhillips and EOG Resources stand out as low-cost, diversified production bases that may help them stay profitable despite oil-price volatility.
The Syrian Petroleum Company, U.S.-based ConocoPhillips (COP.N),and energy firm Novaterra signed a deal in Damascus on Tuesday to develop new gas fields and expand production at existing fields, according to a joint statement.
While other oil and gas companies stay focused on oil-rich regions like the Permian basin, ConocoPhillips is betting big on Alaska's North Slope. The company's $9 billion Willow project may be three years away from coming online, but once it hits the production stage, it could produce $4 billion in incremental annual cash flow for the company.