We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Zacks Analyst Blog Highlights Exxon Mobil, BP, ConocoPhillips and Chevron
Read MoreHide Full Article
For Immediate Release
Chicago, IL – March 4, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Exxon Mobil Corporation (XOM - Free Report) , BP plc (BP - Free Report) , ConocoPhillips (COP - Free Report) and Chevron Corp. (CVX - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
ExxonMobil Decides to End Long-Term Ties with Russia
Exxon Mobil Corporation announced that it has commenced the process of discontinuation of operations at Sakhalin-1 and plans to make no new investments in Russia.
With the exit from the key oil and gas project, located off the eastern coast of Russia, ExxonMobil is concluding its operations in Russia that spanned over decades. Thus, ExxonMobil is aligning its interests with the business communities across the world that are isolating Russia over its violent and unprovoked invasion of Ukraine.
Another energy player that recently announced its decision to quit Russia is BP plc. The company announced its stake withdrawal from Russia's oil and gas company Rosneft after more than a 30-year stretch in the country.
BP was one of the biggest foreign investors in Russia. The British energy giant has been facing immense pressure from the U.K. government to offload its stake in Russia.
In a separate release, ExxonMobil announced that this year its capital budget is in the band of $21 billion to $24 billion. Also, through 2027, XOM expects capital spending in the range of $20 billion to $25 billion. Apart from spreading over capital spending over potential upstream and other projects, ExxonMobil will invest in reducing greenhouse gas emissions in its operations.
Annual Investor Day presentations also outlined XOM's plan for annual structural reductions of $9 billion per year by 2023 in comparison to 2019.
Currently, ExxonMobil sports a Zacks Rank #1 (Strong Buy). Other prospective players in the energy space include ConocoPhillips and Chevron Corp. While ConocoPhillips sports a Zacks Rank #1, Chevron carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Considering production and proved reserves, ConocoPhillips is one of the leading upstream energy players. In the past 30 days, ConocoPhillips has witnessed upward earnings estimate revisions in the past 30 days.
ConocoPhillips' estimate for earnings for 2022 is pegged at $9.74 per share, suggesting a year-over-year increase of 62.1%.
In the Permian basin, Chevron has a strong footprint. The majority of Chevron's assets in the most prolific basin of the United States have minimal royal payments, thereby securing handsome cashflows in the long run.
In the past 30 days, Chevron has witnessed upward earnings estimate revisions for 2022.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
The Zacks Analyst Blog Highlights Exxon Mobil, BP, ConocoPhillips and Chevron
For Immediate Release
Chicago, IL – March 4, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Exxon Mobil Corporation (XOM - Free Report) , BP plc (BP - Free Report) , ConocoPhillips (COP - Free Report) and Chevron Corp. (CVX - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
ExxonMobil Decides to End Long-Term Ties with Russia
Exxon Mobil Corporation announced that it has commenced the process of discontinuation of operations at Sakhalin-1 and plans to make no new investments in Russia.
With the exit from the key oil and gas project, located off the eastern coast of Russia, ExxonMobil is concluding its operations in Russia that spanned over decades. Thus, ExxonMobil is aligning its interests with the business communities across the world that are isolating Russia over its violent and unprovoked invasion of Ukraine.
Another energy player that recently announced its decision to quit Russia is BP plc. The company announced its stake withdrawal from Russia's oil and gas company Rosneft after more than a 30-year stretch in the country.
BP was one of the biggest foreign investors in Russia. The British energy giant has been facing immense pressure from the U.K. government to offload its stake in Russia.
In a separate release, ExxonMobil announced that this year its capital budget is in the band of $21 billion to $24 billion. Also, through 2027, XOM expects capital spending in the range of $20 billion to $25 billion. Apart from spreading over capital spending over potential upstream and other projects, ExxonMobil will invest in reducing greenhouse gas emissions in its operations.
Annual Investor Day presentations also outlined XOM's plan for annual structural reductions of $9 billion per year by 2023 in comparison to 2019.
Currently, ExxonMobil sports a Zacks Rank #1 (Strong Buy). Other prospective players in the energy space include ConocoPhillips and Chevron Corp. While ConocoPhillips sports a Zacks Rank #1, Chevron carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
Considering production and proved reserves, ConocoPhillips is one of the leading upstream energy players. In the past 30 days, ConocoPhillips has witnessed upward earnings estimate revisions in the past 30 days.
ConocoPhillips' estimate for earnings for 2022 is pegged at $9.74 per share, suggesting a year-over-year increase of 62.1%.
In the Permian basin, Chevron has a strong footprint. The majority of Chevron's assets in the most prolific basin of the United States have minimal royal payments, thereby securing handsome cashflows in the long run.
In the past 30 days, Chevron has witnessed upward earnings estimate revisions for 2022.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +25.4% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.