Ultime notizie per Chevron (NYSE:CVX) Azioni

Chevron

Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.

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Scotiabank analyst Paul Cheng maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Sector Outperform and lowers the price target from $180 to $163.

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Scotiabank Maintains Sector Outperform on Chevron, Lowers Price Target to $163

For meteorologists who study extreme weather events like Hurricane Milton — and Hurricane Helene just two weeks ago — the most frightening aspect of the back-to-back storms <a href="https://www.benzinga.com/news/24/10/41257552/how-strong-is-milton-what-to-expect-from-hurricane-categories-1-through-5">isn&#8217;t just strength</a>. 
It&#8217;s speed. 
The fact that Milton mutated from tropical storm to Category 5 hurricane in under 24 hours stunned NBC6 Miami&#8217;s John Morales to the point where he held back tears. Watch the video<a href="https://twitter.com/JohnMoralesTV?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor"> in his X account</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I debated whether to share this. I did apologize on the air. But I invite you to read my introspection on <a href="https://twitter.com/BulletinAtomic?ref_src=twsrc%5Etfw">@BulletinAtomic</a> of how extreme weather &#x1f4c8; driven by global warming has changed me. Frankly, YOU should be shaken too, and demand <a href="https://twitter.com/hashtag/ClimateActionNow?src=hash&amp;ref_src=twsrc%5Etfw">#ClimateActionNow</a>. <a href="https://t.co/09vxgabSmX">https://t.co/09vxgabSmX</a> <a href="https://t.co/GzQbDglsBG">https://t.co/GzQbDglsBG</a>
&mdash; John Morales (@JohnMoralesTV) <a href="https://twitter.com/JohnMoralesTV/status/1843325629741285439?ref_src=twsrc%5Etfw">October 7, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Morales isn&#8217;t alone. Other scientists sounded the alarm, too. They used words like &#8220;<a href="https://x.com/AndyHazelton/status/1843342493318033642?utm_source=substack&amp;utm_medium=email">unprecedented</a>&#8221; and &#8220;<a href="https://x.com/webberweather/status/1843317499091382515?s=46&amp;t=xkbHVlvdaIg9MYo3Hv8M_w&amp;utm_source=substack&amp;utm_medium=email">jaw-dropping</a>.&#8221;
See Also: <a href="https://www.benzinga.com/real-estate/24/10/41251171/hurricane-helenes-destruction-sparks-search-for-safety-10-states-where-property-is-at-the-lowest-ris">Hurricane Helene&#8217;s Destruction Sparks Search For Safety — 10 States Where Property Is At The Lowest Risk</a>
Within 36 hours of formation, Milton&#8217;s winds reached 180 miles per hour. That&#8217;s lightning fast in the world of storm tracking. 
But it shouldn&#8217;t have been a surprise. Helene also mutated from a tropical storm to a Category 4 hurricane in just two days.
For those wondering how two storms, with rains Morales described as &#8220;<a href="https://thebulletin.org/2024/09/hurricane-helene-isnt-an-outlier-its-a-harbinger-of-the-future/#post-heading">biblical</a>,&#8221; are a sudden reality, NASA has an answer: Warm ocean waters due to human-caused climate change.
These conditions caused Milton and Helene to become powerful Category 5 storms.
&#8220;Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida,&#8221; NASA Climate, an account affiliated with NASA, posted on X.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Warm ocean waters due to human-caused climate change helped fuel Hurricane <a href="https://twitter.com/hashtag/Milton?src=hash&amp;ref_src=twsrc%5Etfw">#Milton</a> to become a powerful Category 5 storm. Sea surface temperatures in the Gulf of Mexico were well above average for this time of year as Milton churned toward Florida. <a href="https://t.co/p4WvGdpcWE">https://t.co/p4WvGdpcWE</a> <a href="https://t.co/P3qashjqoc">pic.twitter.com/P3qashjqoc</a>
&mdash; NASA Climate (@NASAClimate) <a href="https://twitter.com/NASAClimate/status/1844030081460502696?ref_src=twsrc%5Etfw">October 9, 2024</a></blockquote>
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The primary business activities of certain companies are directly linked to greenhouse gases such as carbon dioxide and methane.
You know the names: Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) and PetroChina (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PCCYF#OTC">PCCYF</a>), to name a few.
&#8220;I tried to warn people,&#8221; Morales wrote in the Bulletin of Atomic Scientists last month. &#8220;Except that the warning was not well received by everyone. A person accused me of being a &#8216;climate militant,&#8217; a suggestion that I'm embellishing extreme weather threats to drive an agenda. Another simply said that my predictions were &#8216;an exaggeration.&#8217; But it wasn't an exaggeration.&#8221;
Meanwhile, oil companies operating in the Gulf are currently experiencing setbacks. Chevron&#8217;s Blind Faith platform, for example, shut down and forced personnel to evacuate. It produces around 65,000 barrels of oil per day.
Historically, companies like Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) and others in the Gulf region followed similar protocols, ahead of significant storms like Helene and — just a couple of weeks earlier — Hurricane Francine​.
See Also: <a href="https://www.benzinga.com/government/24/09/40822108/hurricane-francine-approaches-louisiana-coast-may-become-category-2-storm">Hurricane Francine Approaches Louisiana Coast With Category 2 Storm Potential, Local Oil Refineries Cut Production</a>
<h1 class="wp-block-heading">ExxonMobil Accepts, Then Denies</h1>
Like Morales, ExxonMobil&#8217;s own scientists made similar predictions — in 1977. 
InsideClimateNews <a href="https://insideclimatenews.org/news/02052024/from-the-archive-exxon-research-global-warming/?utm_source=substack&amp;utm_medium=email#:~:text=He%20warned%20Exxon%20scientists%20and,degrees%20Fahrenheit)%20at%20the%20poles.">republished</a> a 2015 article this past May that chronicles how James Black presented evidence to Exxon brass decades ago, detailing how the oil industry&#8217;s operations would endanger humanity.
&#8220;There is general scientific agreement that the most likely manner in which mankind is influencing the global climate is through carbon dioxide release from the burning of fossil fuels," Black said at the time.
Exxon eventually <a href="https://insideclimatenews.org/wp-content/uploads/2015/10/Exxon-Review-of-Climate-Research-Program-1981.pdf">nixed its carbon dioxide research</a> and chose, instead, to deny climate change. 
Fast-forward to today, elected officials are either <a href="https://www.youtube.com/watch?v=4RbvIMfwNzU">dismissing</a> it entirely or calling it a <a href="https://x.com/realDonaldTrump/status/265895292191248385">hoax</a>. Meanwhile, the U.S. produces more oil <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">than ever before</a>. 
&#8220;We're seeing it play out in this post-truth era, in ways that's really damaging society. And I'm not talking more in the psychological, esoterical ways, or maybe in the election outcome ways. This is getting in the way of emergency management agencies doing their job and saving lives and getting people out of harm's way,&#8221; Morales <a href="https://thebulletin.org/2024/10/meteorologist-john-morales-theres-rapid-intensification-theres-extreme-rapid-intensification-and-then-theres-hurricane-milton/">says</a>. &#8220;It's getting in the way of recovery efforts&#8230; And yeah, it's definitely a hindrance to my mission as a person whose life mission is saving life and property.&#8221;
What&#8217;s Next: The U.S. Energy Information Administration continues to analyze energy data, and how Milton <a href="https://www.eia.gov/todayinenergy/detail.php?id=63444">affects</a> energy infrastructure. The agency will publish an inventory report on Thursday; The Wall Street Journal <a href="https://www.wsj.com/finance/commodities-futures/u-s-natural-gas-futures-move-lower-as-storm-looms-24b63a6f?mod=latest_headlines">expects</a> the surplus in U.S. natural gas to contract as Hurricane Milton makes its way across Florida.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/markets/asia/24/10/41257792/oil-dips-to-73-as-china-withholds-stimulus-biden-attempts-to-contain-netanyahu-over-israels-attack-o">Oil Dips To $73 As China Withholds Stimulus, Biden Attempts To Contain Netanyahu Over Israel&#8217;s Attack On Iran</a></li>
</ul>
Photo: Courtesy of NASA

PCCYF

SHEL

How Did Hurricanes Milton, Helene Intensify So Quickly? ExxonMobil's Scientists Warned Us... In 1977

With so many news items clamoring for investors&#39; attention, investors may not have noticed that the U.S. Federal Trade Commission (FTC) approved the merger between Chevron Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) and Hess Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hes#NYSE">HES</a>). The approval came with the single stipulation that former Hess chief executive officer (CEO) would not join Chevron&#39;s board of directors.&nbsp;
The approval was widely expected but has been an additional headwind for Chevron shareholders. Since the announcement, the stock is up nearly 4% and is now trading positive in 2024. That&#39;s still a far cry from rival Exxon Mobil Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) which is up 21.9% for the year and is near its 52-week high, which would also be its all-time high. &nbsp;
That may make CVX stock look quite attractive to value-hunting investors prior to the company&#39;s earnings report on November 1, 2024. Here are some things for investors to consider.&nbsp;
<h2>Chevron-Hess Merger Moves Forward, But Delays Persist</h2>
The FTC approval is a key step in finalizing the merger between the two oil giants, which was approved by Hess shareholders in May. But one hurdle remains. Chevron and Exxon Mobil are in arbitration regarding pre-emptive rights with Hess&#39; Stabroek Block assets in Guyana.&nbsp;
Chevron is still confident that arbitrators will rule in the company&#39;s favor. And when it is approved, Chevron will have increased influence in the oil markets. However, both sides acknowledge that the merger won&#39;t be finalized for another 12 months. &nbsp;&nbsp;
<h2>It&#39;s Still a Challenging Year for Oil Stocks&nbsp;</h2>
On a broad basis, oil prices are still a reflection of supply and demand. That is, the market is well supplied, and there appears to be only moderate demand. It&#39;s a contradiction to the consensus belief that the consumer is healthy. &nbsp;
That&#39;s why investors in energy stocks were optimistic to start the year. The belief at the time was that the Federal Reserve would have cut interest rates several times by now. In theory, the cuts would stimulate demand and raise the price of oil. Instead, there&#39;s been just one rate cut, albeit of 50 basis points, and it&#39;s too early to tell if it will stimulate demand. &nbsp;
Oil is also not following the script regarding geopolitical tensions. Despite much of the Middle East being on war footing, the price of oil has not spiked as it has at other times. One reason for that is that the OPEC+ nations have decided to lift their production freeze beginning in December. &nbsp;
<h2>The Reasons to Buy CVX Stock Haven&#39;t Changed&nbsp;</h2>
Does the merger approval signal the all-clear for investors to buy CVX stock? Yes, in the fact that it probably sets a higher floor. Analysts give CVX stock about an 18% upside with a price target of $179. &nbsp;
However, many analysts have been lowering their price targets on Chevron over the past 60 days. That&#39;s likely due to concerns about oil demand, which is typical of the industry&#39;s cyclical nature.
However, there are reasons why Chevron is one of the most widely held dividend stocks. For starters, it is one of the largest integrated oil companies in the world. Even without the Hess assets, the company is well positioned to meet the world&#39;s demand for oil, which is always cyclical and will eventually recover. &nbsp;
In fact, the International Energy Agency (IEA) predicts that oil and natural gas will remain vital to the world&#39;s energy needs through at least 2050 and likely beyond. Nevertheless, Chevron is also working purposefully to carve out a position in the renewable energy space.&nbsp;
And Chevron is a fundamentally sound company. Its rock-solid balance sheet includes a debt-to-equity ratio of just 0.13. This gives the company the firepower to take on leverage in downtimes without compromising its commitment to shareholders. &nbsp;
Proof of that commitment is found in the company&#39;s commitment to its dividend. Chevron has increased its dividend for 37 consecutive years. The dividend has a current yield of 4.37% and has been growing at an average pace in the last three years that&#39;s more than double the current rate of inflation. &nbsp;
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/chevron-hess-merger-approved-should-you-buy-before-earnings/">Chevron-Hess Merger Approved: Should You Buy Before Earnings?</a>&quot; first appeared on MarketBeat.

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Chevron-Hess Merger Approved: Should You Buy Before Earnings?

Chevron On Hurricane Milton Says "Have Shut Down Our Tampa Terminal As A Precautionary Measure"

The stock market&#39;s insatiable appetite for high-growth stories often leaves a trail of undervalued opportunities in its wake. Blue-chip stocks are the corporate world&#39;s stalwarts and frequently get overshadowed by the allure of the latest market darlings. This creates a unique opportunity for investors seeking stability and consistent returns, offering the potential for capital appreciation and attractive dividend yields.
<h2>Cisco Systems: Networked for Value and Dividends</h2>
Cisco Systems (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csco#NASDAQ">CSCO</a>) is a tech sector giant with a legacy, and the company is proving that it can still be a powerhouse in today&#39;s changing market. The company designs, manufactures, and sells a comprehensive portfolio of Internet Protocol-based networking products and services. Cisco&#39;s product portfolio spans switching, routing, wireless, security, collaboration, computing, and more, serving businesses of all sizes, public institutions, governments, and service providers. Cisco distributes its products through direct sales, system integrators, and a global network of distributors.
Cisco&#39;s robust business model and solid financial performance make it a compelling investment for those seeking capital appreciation and a consistent income stream. The company recently delivered solid second-quarter results for fiscal year 2024, and its current dividend yield of 3.05% underscores Cisco&#39;s commitment to shareholder value.
A closer look at Cisco&#39;s valuation reveals potential undervaluation. Its current P/E ratio of 17.65 sits below the industry average of 38.5, suggesting that the market may undervalue Cisco&#39;s future earnings potential. A lower P/E ratio indicates that investors pay less for each dollar of Cisco&#39;s earnings when compared to its peers. Additionally, Cisco&#39;s P/B ratio of 4.6, which measures its market capitalization relative to its book value, suggests a potential discount.
Cisco&#39;s solid fundamentals, combined with its attractive dividend yield and potential for undervaluation, make it a strong contender for value and dividend investors. Moreover, Cisco&#39;s MarketRank score, which measures the overall quality of a company, places Cisco in the 98th percentile, indicating that the company is ranked higher than 98% of companies evaluated by MarketBeat. This suggests that Cisco&#39;s financial health and growth potential are strong.
<h2>Dow Inc.: A High-Yield Dividend Play&nbsp;</h2>
Dow Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dow#NYSE">DOW</a>) is a global leader in manufacturing and distributing specialty chemicals, advanced materials, and plastics, and it has emerged as a compelling opportunity for investors seeking a balance of growth and income. While Dow has faced some recent challenges, its 5.06% dividend yield is a testament to its commitment to shareholder returns. The dividend yield makes Dow a compelling consideration, particularly in an environment where many investors seek stability and a steady income stream.
Since its spin-off from DuPont in 2019, Dow has carved out a strong position in the materials science sector, operating in three principal divisions: Performance Materials &amp; Coatings, Industrial Intermediates &amp; Infrastructure, and Packaging &amp; Specialty Plastics. These divisions cater to many industries, including automotive, construction, electronics, and food manufacturing.
Dow&#39;s stock price has exhibited relative volatility recently due to missed earnings expectations and fluctuating profit numbers. However, it&#39;s essential to consider that Dow shares have experienced a remarkable rise of approximately 115% over the past four years. This long-term upward trajectory suggests a strong foundation and potential for further growth.
Dow&#39;s strong brand recognition, diversified product portfolio, and focus on innovation and sustainability drive its current valuation, with Dow&#39;s analyst community predicting a 5% upside on the stock. It is also essential to consider that Dow&#39;s debt levels have steadily decreased over the past few years, signifying a commitment to fiscal responsibility.
Despite the challenges and volatile market conditions, Dow&#39;s position as a global leader in the materials science sector, coupled with its solid dividend yield, makes it a compelling investment opportunity. Dow Inc. could be a worthwhile addition to your portfolio for investors seeking a well-established company with a strong dividend and potential for growth.
<h2>Chevron Corp.: Energy Fueled by Growth and a Generous Dividend</h2>
Chevron Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) is a leading integrated energy company known for its stability and 37-year commitment to delivering consistent and increasing returns to shareholders. This integrated energy giant offers investors a strong 4.32% dividend yield, with an annual dividend far outpacing its peers.
Chevron&#39;s recent acquisition of Hess Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hes#NYSE">HES</a>) for $53 billion is a testament to its commitment to growth. The deal will add world-class assets to Chevron&#39;s portfolio, solidifying its position as a dominant player in the energy sector. While the acquisition faces legal challenges and potential delays, analysts expect it to ultimately be completed, adding further momentum to Chevron&#39;s growth trajectory.
The second quarter of 2024 saw Chevron deliver strong results, highlighting its healthy fundamentals. The company reported earnings of $4.4 billion, or $2.43 per share, for the quarter, demonstrating its ability to navigate a challenging market environment. The company&#39;s global production also rose by 11% during the quarter, driven by the successful integration of PDC Energy, strong execution in the Permian and DJ Basins, and a rise in the company&#39;s global exploration acreage position.
Chevron&#39;s appeal extends beyond its dividend yield. The company is a value investing favorite, with Warren Buffett&#39;s Berkshire Hathaway holding a significant 6.7% stake. This investment underscores Chevron&#39;s long-term stability and potential for capital appreciation.
<h2>Finding Value in Unassuming Giants</h2>
In a market obsessed with growth at any cost, a sense of caution and a focus on value can be a powerful strategy. These blue-chip stocks represent the bedrock of their respective industries, offering a steady stream of income and the potential for long-term growth. Remember, the market has proven that consistency often outperforms flashiness, so as you explore the market, take notice of these gems. They might just be the missing pieces you need to build a robust and resilient portfolio.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/these-3-blue-chips-slipped-under-the-markets-radar/">3 Blue Chip Opportunities the Market Overlooked&mdash;Now&#39;s Your Chance</a>&quot; first appeared on MarketBeat.

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3 Blue Chip Opportunities the Market Overlooked—Now's Your Chance

<a href="https://www.ft.com/content/1181b6f0-10a9-4905-b6d0-4a4c110492ef" title="https://www.ft.com/content/1181b6f0-10a9-4905-b6d0-4a4c110492ef">https://www.ft.com/content/1181b6f0-10a9-4905-b6d0-4a4c110492ef</a>

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'Chevron In Talks To Sell Texas Gas Assets To Tokyo Gas For Up To $1B ' - Financial Times

UBS analyst Josh Silverstein maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Buy and raises the price target from $189 to $192.

UBS Maintains Buy on Chevron, Raises Price Target to $192

Financial giants have made a conspicuous bearish move on Chevron. Our analysis of options history for Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) revealed 16 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $296,490, and 10 were calls, valued at $459,150.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $135.0 to $160.0 for Chevron over the last 3 months. 
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for Chevron options trades today is 2042.0 with a total volume of 930.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Chevron's big money trades within a strike price range of $135.0 to $160.0 over the last 30 days.
<h3>Chevron Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728398756_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$17.0</td>
<td>$16.9</td>
<td>$16.9</td>
<td>$135.00</td>
<td>$84.4K</td>
<td>1.0K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$16.15</td>
<td>$16.0</td>
<td>$16.0</td>
<td>$135.00</td>
<td>$80.0K</td>
<td>1.0K</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>11/15/24</td>
<td>$3.55</td>
<td>$3.45</td>
<td>$3.5</td>
<td>$145.00</td>
<td>$70.0K</td>
<td>3.0K</td>
<td style="text-align: right;">4</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$22.5</td>
<td>$22.5</td>
<td>$22.5</td>
<td>$135.00</td>
<td>$67.5K</td>
<td>175</td>
<td style="text-align: right;">30</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$5.55</td>
<td>$5.5</td>
<td>$5.55</td>
<td>$150.00</td>
<td>$48.8K</td>
<td>2.3K</td>
<td style="text-align: right;">130</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
In light of the recent options history for Chevron, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Present Market Standing of Chevron</h3>
<ul>
<li>With a volume of 1,304,398, the price of CVX is down -2.2% at $147.79. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 24 days.</li>
</ul>
<h3>Professional Analyst Ratings for Chevron</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $169.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from UBS persists with their Buy rating on Chevron, maintaining a target price of $189. 
&#x2A; Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Chevron with a target price of $150. 
&#x2A; Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Chevron with a target price of $169. 
&#x2A; An analyst from RBC Capital downgraded its action to Outperform with a price target of $170. 
&#x2A; Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for Chevron, targeting a price of $168. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Decoding Chevron's Options Activity: What's the Big Picture?

RBC Capital analyst Biraj Borkhataria reiterates Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Outperform and maintains $170 price target.

Reiteration

RBC Capital Reiterates Outperform on Chevron, Maintains $170 Price Target

The <a href="https://www.benzinga.com/topic/2024-election">hotly contested 2024 election</a> between Vice President Kamala Harris and former President Donald Trump has Americans bracing for a down-to-the-wire finish. While Harris has <a href="https://www.benzinga.com/news/24/09/40969781/nate-silvers-forecast-kamala-harris-retakes-lead-over-donald-trump">a slight lead</a> in polling forecasts, the race remains an essential toss-up. 
As market participants consider investment ideas tied to the election, telling signs might be found in the aftermath of <a href="https://www.benzinga.com/topic/2016-presidential-election">the 2016 election</a>.
Election Debrief: Trump won the 2016 election in a surprising upset over Democrat Hillary Clinton. He ran on a platform of building a wall on the U.S.-Mexico border, repealing Obamacare, enacting deregulation and prioritizing fossil fuels.
Trump <a href="https://www.benzinga.com/news/20/11/18261020/joe-biden-wins-2020-presidential-election-as-donald-trump-pushes-lawsuits-recounts">lost the 2020 election</a> to Democrat Joe Biden.
2016 Winners: Large bank stocks benefitted the most from Trump&#8217;s 2016 triumph.
Shares of JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) soared over 13% in the week following Trump&#8217;s surprising win, according to data from Yahoo Finance. Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) traded up over 17% that week. Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) saw an 18% bump in share price. Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) also had a fantastic week as shares jumped over 16%.
Blackstone Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) Stephen Schwarzman is among <a href="https://www.benzinga.com/markets/equities/24/05/39021029/donald-trump-to-get-endorsement-from-blackstone-ceo-steve-schwarzman-report">Trump&#8217;s biggest supporters</a> on Wall Street. Shares of the private equity giant traded up nearly 9% in the week following the 2016 election.
The market&#8217;s preference for financial stocks after Trump's win comes as no surprise, given his strong support for deregulating the financial sector.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-secon">Hurricane Milton Is Florida&#8217;s Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted</a>
Trump&#8217;s 2016 victory was also favorable to the oil and coal industries due to his support for deregulating the energy sector and prioritizing American energy production. Shares of coal mining company Arch Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) rocketed up over 21% in the week following the election. Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) saw modest gains.
2016 Losers: Indexes in foreign countries fell overnight on election day 2016, <a href="https://money.cnn.com/2016/11/08/investing/global-markets-stocks-trump-clinton-us-presidential-election/index.html">according</a> to CNN. The Mexican peso plunged 9%, while European indexes fell a few percentage points. The Russia-tracking iShares MSCI Russia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERUS#NYSE">ERUS</a>) ticked higher overnight.
Tech stocks closed the week in the red, perhaps due to regulatory concerns. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) all ticked down 2 to 3 percentage points.
Clean energy stocks faced challenges after the 2016 election. Electric vehicle manufacturer Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ended the week down over 5%, following Trump&#8217;s victory. At the time, CEO Elon Musk had not <a href="https://www.benzinga.com/news/24/08/40145805/elon-musk-says-his-endorsement-of-trump-doesnt-mean-he-agrees-with-everything-ex-president-is-saying">yet endorsed Trump</a> for a future run, but the market reaction reflected broader concerns for clean energy under a pro-fossil-fuel administration. Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) saw an even steeper decline, shedding over 16% of its market value in the week after the election.
Why it Matters: If history were to repeat itself, a Trump win in 2024 would likely bode well for financial, oil and coal companies. On the flip side, tech companies under regulatory scrutiny and clean energy stocks could see declines in Trump&#8217;s hypothetical return to the White House.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/10/41199702/trump-says-we-need-a-mandate-in-the-vote-and-were-going-to-get-it-as-2024-election-draws-near">Trump Says &#8216;We Need A Mandate In The Vote, And We&#8217;re Going To Get It&#8217; As 2024 Election Draws Near</a></li>
</ul>
Photo: Shutterstock

Equities

Politics

ARCH

CSIQ

ERUS

GOOG

GOOGL

MSFT

TSLA

What A Trump Win Could Mean For Financial, Energy Stocks: Lessons From 2016

High-yield dividend stocks are returning to the spotlight as interest rates descend from record highs following the Federal Reserve&#39;s recent 50-basis-point rate cut. With analysts increasingly bullish on certain large-cap names, there&#39;s a compelling case for investors to consider adding these income-generating stocks to their portfolios.&nbsp;
Below, let&#39;s take a closer look at three large-cap stocks that boast attractive dividend yields, positive analyst sentiment, and potential upside.
<h2>Kraft Heinz</h2>
Kraft Heinz Co. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/khc#NASDAQ">KHC</a>), a global food and beverage giant, is known for its iconic brands like Heinz, Kraft, Oscar Mayer, and Planters. Along with its well-established history of producing household staples, Kraft Heinz has long been a favorite among income investors due to its substantial dividend yield. Currently, the stock offers a 4.55% yield, paired with a relatively low price-to-earnings (P/E) ratio of 15.3, making it appealing to both income and value investors.
While the stock is down 4.8% year-to-date (YTD), it&#39;s currently in a bullish consolidation pattern, with its moving averages converging. This technical setup suggests that bullish momentum could accelerate if Kraft Heinz breaks above its downtrend resistance at around $36.&nbsp;
Analysts are cautiously optimistic, with six out of 11 rating the stock a Buy, four a Hold, and only one recommending it as a sell. The consensus price target suggests a nearly 7% upside, making it a stock worth watching. Kraft Heinz is projected to grow earnings by 4.3% over the next year, potentially making it a solid pick for income and value-growth-oriented investors.
<h2>Truist Financial</h2>
Truist Financial Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tfc#NYSE">TFC</a>), a prominent U.S. bank holding company, has also caught the eye of income investors thanks to its impressive 4.99% dividend yield. With a market capitalization of $55.8 billion, Truist offers financial services across various sectors and has been performing steadily in 2024. The stock is up 13% YTD, adding to its appeal as both a growth and income investment.
Technically, the stock is in a consolidation phase near a potential breakout point at $43, with momentum on its side. Its forward P/E ratio of 10.4 signals it may still be undervalued. Analysts are fairly optimistic, with 11 out of 22 rating the stock a Buy, while the other 11 recommend it as a Hold. The consensus price target indicates a nearly 9% upside, making it an attractive option for investors seeking value and dividends.
It&#39;s also worth noting that Truist Financial&#39;s upcoming earnings report, scheduled for October 17, could be a significant catalyst. In its last earnings report, released on July 22, the bank reported earnings per share (EPS) of $0.91, beating the consensus estimate of $0.84. With strong quarterly earnings and an attractive dividend yield, Truist remains a compelling option for those seeking exposure to the financial sector.
<h2>Chevron</h2>
Chevron&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cvx#NYSE">CVX</a>) is a global leader in the energy sector and the second-largest integrated oil company in the U.S. It has a deep-rooted history in the industry and worldwide operations. Chevron has become a cornerstone of many dividend-focused portfolios. The stock currently sports a 4.35% dividend yield and a P/E ratio of 13.7, making it attractive for value and income investors alike.
Analysts are exceptionally bullish on Chevron. Of the 19 analysts covering the stock, 13 rate it a Buy. The consensus price target points to a nearly 20% upside, bolstering the argument that Chevron might still have room to run, especially in the current energy environment.&nbsp;
On the technical side, the stock broke above a critical resistance level yesterday, gaining 1.65% in a single day as rising tensions in the Middle East drove oil prices higher. This move suggests Chevron could be positioned for further upside as oil prices continue to rise and demand remains strong.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/3-high-yield-dividend-stocks-analysts-favor-as-rates-drop/">3 High-Yield Dividend Stocks Analysts Favor as Rates Drop</a>&quot; first appeared on MarketBeat.

Earnings Beats

Technicals

Federal Reserve

3 High-Yield Dividend Stocks Analysts Favor as Rates Drop

Whales with a lot of money to spend have taken a noticeably bearish stance on Chevron.
Looking at options history for Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 45% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $75,600 and 9, calls, for a total amount of $312,559.
<h3>Predicted Price Range</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $160.0 for Chevron over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Chevron's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Chevron's substantial trades, within a strike price spectrum from $95.0 to $160.0 over the preceding 30 days.
<h3>Chevron Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1728319547_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/11/24</td>
<td>$17.0</td>
<td>$16.0</td>
<td>$16.32</td>
<td>$135.00</td>
<td>$48.9K</td>
<td>55</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$7.0</td>
<td>$7.0</td>
<td>$7.0</td>
<td>$130.00</td>
<td>$46.2K</td>
<td>1.8K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$16.8</td>
<td>$16.6</td>
<td>$16.75</td>
<td>$140.00</td>
<td>$43.5K</td>
<td>239</td>
<td style="text-align: right;">19</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$57.75</td>
<td>$56.8</td>
<td>$56.98</td>
<td>$95.00</td>
<td>$39.8K</td>
<td>7</td>
<td style="text-align: right;">8</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>10/11/24</td>
<td>$17.95</td>
<td>$17.55</td>
<td>$17.73</td>
<td>$135.00</td>
<td>$35.4K</td>
<td>55</td>
<td style="text-align: right;">30</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
After a thorough review of the options trading surrounding Chevron, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Current Position of Chevron</h3>
<ul>
<li>With a volume of 2,016,496, the price of CVX is up 0.63% at $151.69. </li>
<li>RSI indicators hint that the underlying stock may be overbought.</li>
<li>Next earnings are expected to be released in 25 days.</li>
</ul>
<h3>What Analysts Are Saying About Chevron</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $173.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on Chevron with a target price of $189. 
&#x2A; An analyst from Barclays has decided to maintain their Overweight rating on Chevron, which currently sits at a price target of $168. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Chevron, targeting a price of $189. 
&#x2A; An analyst from Truist Securities has decided to maintain their Hold rating on Chevron, which currently sits at a price target of $150. 
&#x2A; Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for Chevron, targeting a price of $169. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Chevron options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

What the Options Market Tells Us About Chevron

Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Canadian Natural Resources Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) shares are trading higher premarket on Monday. Chevron&#8217;s subsidiary penned a deal to sell a stake in several projects and assets to Canadian <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41202019/chevron-announces-us-6-5-bn-sale-of-its-interests-in-the-athabasca-oil-sands-project-and-duvernay-" rel="noreferrer noopener">Natural Resources for $6.5 billion in cash</a>.
In particular, the oil and gas giant plans to sell its 20% non-operated stake in the Athabasca Oil Sands Project, 70% operated interest in the Duvernay shale, and related Alberta assets.
This sale is part of Chevron&#8217;s plan to divest $10 billion-$15 billion in assets by 2028 to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36713815/chevron-eyes-sale-of-canadas-duvernay-shale-gas-assets-to-trim-portfolio-report" rel="noreferrer noopener">streamline its global energy portfolio</a>.
The deal, effective September 1, 2024, is expected to close in the fourth quarter of 2024, pending regulatory approvals.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41127001/analyst-questions-what-could-hess-be-worth-as-chevron-advances-in-acquisition-effor" rel="noreferrer noopener">Analyst Questions &#8216;What Could Hess Be Worth?&#8217; As Chevron Advances In Acquisition Efforts</a>
These acquisitions are expected to add approximately 122,500 BOE/d of production in 2025 and around 1,448 MMBOE in total proved plus probable reserves <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/41201955/canadian-natural-resources-limited-announces-the-acquisition-of-chevrons-alberta-assets-and-a-7-div" rel="noreferrer noopener">to Canadian Natural&nbsp;Resources portfolio</a>.
Scott Stauth, Canadian Natural&#8217;s President, said, &#8220;The light crude oil and liquids rich Duvernay assets fit well with our current operations in the area and will drive significant value from our area knowledge and significant experience in this type of resource play.&#8221;
Mark Stainthorpe, Canadian Natural&#8217;s Chief Financial Officer, said, &#8220;This is a great opportunity to add to our world class Oil Sands Mining and Upgrading asset at AOSP, as well as light crude oil and liquids rich assets in Alberta. Both of these acquisition properties are targeted to provide significant free cash flow generation on a go forward basis.&#8221;
&#8221;Having operated the AOSP mines and knowing the assets well, eliminates the risks associated with a brownfield or greenfield project. These transactions are immediately cash flow and earnings accretive to Canadian Natural shareholders.&#8221;
Along with this deal, Canadian Natural&#8217;s Board has approved a 7% dividend increase to $0.5625 per share, payable in January 2025, while post-acquisition free cash flow expected to be allocated 60% to shareholders and 40% to debt reduction unti<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/41201957/canadian-natural-resources-limited-announces-increased-quarterly-dividend" rel="noreferrer noopener">l net debt reaches $15 billion</a>.
Last month, Chevron announced that the Federal Trade Commission (FTC) completed an antitrust review of its merger with&nbsp;Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), satisfying a critical <a target="_blank" href="https://www.benzinga.com/government/24/09/41098199/ftc-clears-chevrons-53b-hess-merger-sets-restriction-for-john-hess" rel="noreferrer noopener">closing&nbsp;condition for the transaction</a>.
Investors can gain exposure to CVX via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;Westwood Salient Enhanced Energy Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEEI#NASDAQ">WEEI</a>).
Price Action: CVX shares are up 1.1% at $152.40 and CNQ shares rose 2.81% at $36.54 premarket at the last check Monday.
Photo by Jonathan Weiss on Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41191633/us-energy-stocks-notch-biggest-weekly-gains-in-2-years-exxon-hits-record-highs-as" target="_blank" rel="noreferrer noopener">US Energy Stocks Notch Biggest Weekly Gains In 2 Years, Exxon Hits Record Highs As Crude Surges To $75 On Israel-Iran Jitters</a></li>
</ul>

Movers

DRLL

WEEI

Chevron Sells $6.5B Assets To Canadian Natural Resources: Details

<ul>
<li>This acquisition brings Canadian Natural's total current working interest in AOSP to 90%. The acquisition adds approximately 62,500 bbl/d(1) of long life no decline Synthetic Crude Oil ("SCO") production, contributing to Canadian Natural's significant sustainable free cash flow generation. The agreement also includes the acquisition of additional various working interests in a number of other non-producing oil sands leases with aggregate acreage of approximately 267,000 gross / 100,000 net acres.</li>
<li>These acquisitions add targeted 2025 production of approximately 122,500 BOE/d, and the addition of approximately 1,448 MMBOE of Total Proved plus Probable reserves</li>
</ul>

Commodities

General

Canadian Natural Resources Agrees To Acquire From Chevron Canada Its 20% Interest In The Athabasca Oil Sands Project And Chevron's 70% Operated Working Interest Of Light Crude Oil And Liquids Rich Assets In The Duvernay Play In Alberta For $6.5B

Shares of U.S. energy giants surged this week, marking the strongest performance in two years, as fears of a wider conflict in the Middle East between Iran and Israel drove oil prices <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">to $75 per barrel. </a>
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks 31 major U.S. energy companies, including giants like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), recorded a remarkable 6.4% gain this week.
Investors poured nearly $300 million into the XLE ETF this week, the highest inflow since late July, according to Tradingview data.
Exxon Mobil, the largest U.S. oil company, reached a record high of $125 per share on Friday. The stock posted its sixth consecutive day of gains, ending the week up over 7%, marking its best performance since October 2022.
Oil prices continued their rally, with West Texas Intermediate (WTI) crude recording its fourth straight day of gains, hitting levels last seen in late August. The geopolitical tensions between Israel and Iran have sparked concerns over global oil supply disruptions.
<h3 class="wp-block-heading">Rising Middle East Tensions, Biden Calls For Measured Israeli Response</h3>
Israel promised a strong retaliation after Iran launched more than 180 ballistic missiles on Tuesday. While Israel&#8217;s air defense systems successfully intercepted most of the missiles, the attack further intensified the already heightened regional instability.
On Friday, President Joe Biden addressed the escalating crisis during a rare appearance at the White House daily press briefing. He mentioned Israel&#8217;s right to defend itself but said the country had not yet decided how it would respond to Iran&#8217;s ballistic missile strike.
Biden said he advised Israel against further escalating the conflict, suggesting that Israel might consider alternatives to targeting oil fields in its retaliation.
In his first public appearance since the attack, Iran's Supreme Leader Ayatollah Ali Khamenei defended the strike as &#8220;legitimate punishment&#8221; for what he called Israeli crimes and urged greater resistance against Israel in the region, Reuters reported.
Iran's deputy commander of the Islamic Revolutionary Guard Corps also issued a stark warning, stating that Iran could target Israeli oil refineries and gas fields if Israel chooses to strike Iranian territory.
<h3 class="wp-block-heading">This Week&#8217;s Top 10 Performing US Energy Stocks</h3>
U.S. energy stocks posted sharp gains, with the top performers this week including:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (5D)</td>
<td>Market Cap</td>
</tr>
<tr>
<td>Diamondback Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>13.62%</td>
<td>$57.14B</td>
</tr>
<tr>
<td>APA Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>9.36%</td>
<td>$9.92B</td>
</tr>
<tr>
<td>The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>)</td>
<td>9.04%</td>
<td>$60.02B</td>
</tr>
<tr>
<td>Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>8.44%</td>
<td>$16.06B</td>
</tr>
<tr>
<td>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>8.35%</td>
<td>$51.71B</td>
</tr>
<tr>
<td>Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>)</td>
<td>8.25%</td>
<td>$27.38B</td>
</tr>
<tr>
<td>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>8.19%</td>
<td>$131.57B</td>
</tr>
<tr>
<td>EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>)</td>
<td>8.05%</td>
<td>$75.23B</td>
</tr>
<tr>
<td>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>7.94%</td>
<td>$26.33B</td>
</tr>
<tr>
<td>Kinder Morgan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</td>
<td>7.82%</td>
<td>$52.15B</td>
</tr>
</tbody>
</table>
</figure>
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Photo: Shutterstock

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US Energy Stocks Notch Biggest Weekly Gains In 2 Years, Exxon Hits Record Highs As Crude Surges To $75 On Israel-Iran Jitters

Deep-pocketed investors have adopted a bullish approach towards Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CVX usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Chevron. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 64% leaning bullish and 35% bearish. Among these notable options, 4 are puts, totaling $175,475, and 10 are calls, amounting to $750,501.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $110.0 to $175.0 for Chevron over the recent three months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Chevron's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Chevron's significant trades, within a strike price range of $110.0 to $175.0, over the past month.
<h3>Chevron Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727970474_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$2.07</td>
<td>$2.06</td>
<td>$2.07</td>
<td>$165.00</td>
<td>$370.1K</td>
<td>8.6K</td>
<td>8</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$1.36</td>
<td>$1.3</td>
<td>$1.36</td>
<td>$155.00</td>
<td>$68.0K</td>
<td>1.0K</td>
<td>1.6K</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$1.52</td>
<td>$1.4</td>
<td>$1.5</td>
<td>$155.00</td>
<td>$59.5K</td>
<td>1.0K</td>
<td>1.3K</td>
</tr>
<tr>
<td>CVX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$14.3</td>
<td>$14.1</td>
<td>$14.3</td>
<td>$160.00</td>
<td>$52.9K</td>
<td>460</td>
<td>57</td>
</tr>
<tr>
<td>CVX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$1.34</td>
<td>$1.2</td>
<td>$1.3</td>
<td>$155.00</td>
<td>$52.0K</td>
<td>1.0K</td>
<td>956</td>
</tr>
</tbody>
</table>

<h3>About Chevron</h3>
Chevron is an integrated energy company with exploration, production, and refining operations worldwide. It is the second-largest oil company in the United States with production of 3.1 million of barrels of oil equivalent a day, including 7.7 million cubic feet a day of natural gas and 1.8 million of barrels of liquids a day. Production activities take place in North America, South America, Europe, Africa, Asia, and Australia. Its refineries are in the US and Asia for total refining capacity of 1.8 million barrels of oil a day. Proven reserves at year-end 2023 stood at 11.1 billion barrels of oil equivalent, including 6.0 billion barrels of liquids and 30.4 trillion cubic feet of natural gas.
<h3>Current Position of Chevron</h3>
<ul>
<li>Currently trading with a volume of 1,728,624, the CVX's price is up by 0.13%, now at $151.14. </li>
<li>RSI readings suggest the stock is currently may be approaching overbought.</li>
<li>Anticipated earnings release is in 29 days.</li>
</ul>
<h3>What The Experts Say On Chevron</h3>
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $173.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Barclays persists with their Overweight rating on Chevron, maintaining a target price of $168. 
&#x2A; An analyst from Truist Securities has decided to maintain their Hold rating on Chevron, which currently sits at a price target of $150. 
&#x2A; Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Chevron with a target price of $189. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on Chevron, maintaining a target price of $169. 
&#x2A; An analyst from Mizuho has decided to maintain their Outperform rating on Chevron, which currently sits at a price target of $189. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Chevron with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Barclays analyst Betty Jiang maintains Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) with a Overweight and lowers the price target from $185 to $168.

Barclays Maintains Overweight on Chevron, Lowers Price Target to $168

Oil prices continue to rise on Wednesday, adding to gains driven by potential supply disruptions in the Middle East and fresh warnings out of the Organization of the Petroleum Exporting Countries and its allies, <a href="https://www.benzinga.com/topic/oil">known as OPEC+</a>.
What To Know: Prince Abdulaziz bin Salman, the oil minister of Saudi Arabia, has warned that prices could fall to $50 per barrel if global oil producers don&#8217;t comply with production curbs, according to a <a href="https://www.wsj.com/business/energy-oil/saudi-minister-warns-of-50-oil-as-opec-members-flout-production-curbs-216dc070?mod=hp_lead_pos4">report</a> from the Wall Street Journal. 
The report indicates the Saudi oil minister&#8217;s comments are being viewed as a threat that Saudi Arabia is willing to start a pricing war to help maintain its market share.
Oil prices had been in decline before jumping this week amid <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil" target="_blank" rel="noreferrer noopener">rising Middle East tensions</a>. Iran launched an attack on Israel Tuesday following the recent killing of Hezbollah leader Hassan Nasrallah, reportedly firing between 100 and 200 missiles toward Israel.
Brent Crude futures, the international benchmark, climbed as much as 5% on Tuesday before pulling back and finishing the day up about 2.4%. Brent Crude futures were up 2.75%, trading around $75.50 at the time of writing Wednesday, while front-month&nbsp;WTI Crude futures were up 3.06%, hovering around $72. 
Saudi Arabia reportedly needs prices to be at least $85 per barrel in order to help fund its planned economic transformation. 
The rising tensions in the Middle East are also likely to push up prices of U.S. gasoline. According to an ABC News <a href="https://abcnews.go.com/Business/rising-oil-prices-after-iran-strike-increase-us/story?id=114394795">report</a>, drivers could see prices at the pump rise between 10 cents and 15 cents per gallon.
The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was up 2.7% at $74.06 and the IShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>) was up 2.24% at $93.50 at last check. The SPDR Energy Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was up 1.25% at $90.93 at the time of writing.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41140501/exxon-mobil-chemed-las-vegas-sands-and-more-on-cnbcs-final-trades">Exxon Mobil, Chemed, Las Vegas Sands And More On CNBC&#8217;s &#8216;Final Trades&#8217;</a>
Here&#8217;s a look at some of the energy stocks making moves Wednesday morning:
<ul>
<li>Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) up 1.77% at $122.02.</li>
</ul>
<ul>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) up 1.44% at $151.82.</li>
</ul>
<ul>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) up 1.62% at $111.23.</li>
</ul>
<ul>
<li>Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) up 1.52% at $43.79.</li>
</ul>
<ul>
<li>Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) up 1.75% at $141.39.</li>
</ul>
<ul>
<li>BP P.L.C. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) up 1.54% at $32.59.</li>
</ul>
<ul>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) up 2.11% at $68.18.</li>
</ul>
Analysts React: OPEC is set to hold an online Joint Ministerial Monitoring Committee meeting on Wednesday that the market will be watching closely, Roth MKM analysts said in a note. OPEC members are expected to discuss whether to ease production curbs in December.
The Roth MKM analysts also highlighted oil inventory data that is positive for oil prices and noted that oil is likely to continue trading higher on Wednesday. 
Analysts at Truist Securities and Jefferies highlighted other opportunities given the elevated global threat environment. Jefferies highlighted opportunity in the tanker market as the Middle East conflict raises risk premiums on the energy market, and Truist analysts said they expect the intensifying conflict to ultimately translate into bookings and backlog growth for the U.S. defense industry overall.
Read Next:
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Photo: Shutterstock.

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

Oil Prices Spike, Energy Stocks Jump After Iran's Missile Attack On Israel: What Investors Need To Know

Hess Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) and Chevron Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)&nbsp;shares are trading higher on Tuesday.
On Monday, the Federal Trade Commission (FTC) completed an antitrust review of the merger&nbsp;of both companies, satisfying a critical <a target="_blank" href="https://www.benzinga.com/government/24/09/41098199/ftc-clears-chevrons-53b-hess-merger-sets-restriction-for-john-hess" rel="noreferrer noopener">closing&nbsp;condition for the transaction</a>.
To facilitate the merger&#8217;s completion, Hess and Chevron have agreed that Hess CEO John Hess will not be on the Chevron board.
Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and its partner&nbsp;CNOOC Ltd had earlier asserted their right of first refusal to any sale of&nbsp;Hess&#8217;&nbsp;stake in a Guyana oil-producing joint venture. The arbitration panel is expected to hear these claims in May 2025.
Piper Sandler analyst Ryan M. Todd raised the valuation of Guyana (net to HES) from $40.6 billion to $45.6 billion, translating to $132 to $149 per share, due to notable increases in discovered resources and productivity in Guyana.
The analyst estimates Hess&#8217; stand-alone value at around $170 per share with Brent priced at $75 per barrel, suggesting that Hess is a compelling value opportunity for the first time in years.
Notably, given strong reservoir productivity and successful debottlenecking (12%-20% improvement), Todd expects each FPSO&#8217;s peak productive capacity to increase from approximately 2.0 Mboe/d to around 2.5 Mboe/d.
The analyst adds that while second-quarter production was 192 kbd (net to HES) in Guyana, they expect net production to peak at around 775 kbd, reflecting a 17% annual CAGR for nearly a decade, with peak CFO and FCF projected at $10.3 billion and $8.7 billion, respectively, vs. a $2.2 billion breakeven in 2023.
On the other hand, Wolfe Research analyst Doug Leggate&nbsp;upgraded Hess from Peer Perform to <a target="_blank" href="https://www.benzinga.com/quote/hes/analyst-ratings" rel="noreferrer noopener">Outperform with a price target of $150</a>.
The bullish outlook reflects the analyst&#8217;s view that current market conditions and the potential merger outcomes give Hess shares an attractive risk/reward profile, indicating that the valuation remains compelling regardless of whether the deal with Chevron proceeds.
Leggate&nbsp;cited three scenarios for Hess that support a positive outlook. The first scenario envisions the successful merger with Chevron, closing the current 11% arbitrage gap between the valuations of Hess and Chevron.
If the merger fails, the analyst expects Hess to trade based on its fundamentals, with a fair value starting point projected at about $150 per share.
The third scenario examines a failed merger, indicating that Hess has shown a willingness to be acquired, with Chevron likely remaining the sole interested party, says the analyst.
Price Action: HES shares are up 1.9% at $138.38, while CVX shares rose 1.28% at $149.17 at the last check Tuesday.
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/10/41124018/chevron-honeywell-join-forces-for-ai-breakthrough-details" target="_blank" rel="noreferrer noopener">Chevron, Honeywell Join Forces For AI Breakthrough: Details</a></li>
</ul>

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