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Zacks Market Edge Highlights: Exxon Mobil, Chevron and ConocoPhillips
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For Immediate Release
Chicago, IL – January 12, 2026 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/2815284/3-oil-stocks-to-start-2026-values-or-traps)
3 Oil Stocks to Start 2026: Values or Traps?
Welcome to Episode #470 of the Zacks Market Edge Podcast.
(0:15) - Will 2026 Be A Big Year For The Oil Industry?
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week, Tracey went solo to talk about the oil stocks given the recent developments in Venezuela and the price of oil holding in the $50s, which is historically low.
Chevron, Exxon Mobil, and ConocoPhillips have all been producers in Venezuela in the past. Only Chevron still remains in the country. Will they be willing to go back in? What kind of guarantees will they ask for?
Should you buy the oil stocks now in anticipation of things to come?
Definition of a Value Stock Versus a Trap
There are a lot of stocks that appear cheap on a price-to-earnings (P/E) basis. There are also industries that are being ignored by Wall Street. Neither thing necessarily indicates a company is a "value."
The earnings have been cut on the oil stocks since the price of oil began falling from the Ukraine/Russia War high in 2022. Earnings have been down on most oil stocks in 2023, 2024 and 2025.
Will they fall again in 2026?
A stock is a trap if it's cheap but the earnings are expected to fall year-over-year. Investors want companies that are growing earnings. Of course, oil company earnings are predicated on the price of oil and, to some extent, natural gas. When it falls, earnings do too.
Exxon Mobil is one of the largest oil companies in the world. It explores and produces oil and natural gas globally. It also has refining, service stations and operates a chemical company.
Shares of Exxon Mobil are up 16% over the last year and are trading near all-time highs. Yet earnings are expected to fall 11.2% in 2025 while bouncing back just 1.7% in 2026. 4 earnings estimates have been cut for 2026 in the last 30 days, with just one raised.
Exxon Mobil isn't cheap. It trades with a forward P/E of 17.4. It's shareholder friendly and is paying a dividend yielding 3.4%.
Exxon Mobil has made a big investment in Guyana, the country next to Venezuela, the last few years.
Should Exxon Mobil be your choice for a play on oil in 2026?
Chevron Corp. is also one of the largest oil companies in the world. It also explores and produces oil and natural gas globally. It has refining and service stations.
Shares of Chevron are up 7.5% over the last year. Earnings are expected to be down 25% in 2025 and another 4.1% in 2026. Analysts are bearish for 2026. 2 estimates have been cut in the last 30 days for 2026.
It's not cheap. Chevron trades with a forward P/E of 22.6. A P/E over 20 is considered expensive. You will get a juicy dividend for your patience, however. It's yielding 4.3%.
Should Chevron, which is already in Venezuela, be your oil stock choice in 2026?
ConocoPhillips is an independent oil and natural gas producer with operations in 13 countries. It differs from Exxon and Chevron in that it no longer operates in refining or distribution.
Shares of ConocoPhillips were down 2.1% over the last year. Earnings are expected to fall 18% in 2025 and another 15.3% in 2026. One estimate has been cut for 2026 in just the last week.
Like the others, ConocoPhillips isn't cheap. It trades with a forward P/E of 18.4. You will get a dividend, which is yielding 3.4%.
ConocoPhillips got burned the last time it was in Venezuela. Should you make a bet it will be back there in 2026?
What Else Should You Know About the Oil Stocks in 2026?
Tune into this week's podcast to find out.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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/performancefor information about the performance numbers displayed in this press release.
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Zacks Market Edge Highlights: Exxon Mobil, Chevron and ConocoPhillips
For Immediate Release
Chicago, IL – January 12, 2026 – Zacks Market Edge is a podcast hosted weekly by Zacks Stock Strategist Tracey Ryniec. Every week, Tracey will be joined by guests to discuss the hottest investing topics in stocks, bonds and ETFs and how it impacts your life. To listen to the podcast, click here: https://www.zacks.com/stock/news/2815284/3-oil-stocks-to-start-2026-values-or-traps)
3 Oil Stocks to Start 2026: Values or Traps?
Welcome to Episode #470 of the Zacks Market Edge Podcast.
Every week, host and Zacks stock strategist, Tracey Ryniec, will be joined by guests to discuss the hottest investing topics in stocks, bonds, and ETFs and how it impacts your life.
This week, Tracey went solo to talk about the oil stocks given the recent developments in Venezuela and the price of oil holding in the $50s, which is historically low.
Chevron, Exxon Mobil, and ConocoPhillips have all been producers in Venezuela in the past. Only Chevron still remains in the country. Will they be willing to go back in? What kind of guarantees will they ask for?
Should you buy the oil stocks now in anticipation of things to come?
Definition of a Value Stock Versus a Trap
There are a lot of stocks that appear cheap on a price-to-earnings (P/E) basis. There are also industries that are being ignored by Wall Street. Neither thing necessarily indicates a company is a "value."
The earnings have been cut on the oil stocks since the price of oil began falling from the Ukraine/Russia War high in 2022. Earnings have been down on most oil stocks in 2023, 2024 and 2025.
Will they fall again in 2026?
A stock is a trap if it's cheap but the earnings are expected to fall year-over-year. Investors want companies that are growing earnings. Of course, oil company earnings are predicated on the price of oil and, to some extent, natural gas. When it falls, earnings do too.
Are the oil stocks attractive to buy in 2026?
3 Oil Stocks in 2026: Values or Traps?
1. Exxon Mobil Corp. (XOM - Free Report)
Exxon Mobil is one of the largest oil companies in the world. It explores and produces oil and natural gas globally. It also has refining, service stations and operates a chemical company.
Shares of Exxon Mobil are up 16% over the last year and are trading near all-time highs. Yet earnings are expected to fall 11.2% in 2025 while bouncing back just 1.7% in 2026. 4 earnings estimates have been cut for 2026 in the last 30 days, with just one raised.
Exxon Mobil isn't cheap. It trades with a forward P/E of 17.4. It's shareholder friendly and is paying a dividend yielding 3.4%.
Exxon Mobil has made a big investment in Guyana, the country next to Venezuela, the last few years.
Should Exxon Mobil be your choice for a play on oil in 2026?
2. Chevron Corp. (CVX - Free Report)
Chevron Corp. is also one of the largest oil companies in the world. It also explores and produces oil and natural gas globally. It has refining and service stations.
Shares of Chevron are up 7.5% over the last year. Earnings are expected to be down 25% in 2025 and another 4.1% in 2026. Analysts are bearish for 2026. 2 estimates have been cut in the last 30 days for 2026.
It's not cheap. Chevron trades with a forward P/E of 22.6. A P/E over 20 is considered expensive. You will get a juicy dividend for your patience, however. It's yielding 4.3%.
Should Chevron, which is already in Venezuela, be your oil stock choice in 2026?
3. ConocoPhillips (COP - Free Report)
ConocoPhillips is an independent oil and natural gas producer with operations in 13 countries. It differs from Exxon and Chevron in that it no longer operates in refining or distribution.
Shares of ConocoPhillips were down 2.1% over the last year. Earnings are expected to fall 18% in 2025 and another 15.3% in 2026. One estimate has been cut for 2026 in just the last week.
Like the others, ConocoPhillips isn't cheap. It trades with a forward P/E of 18.4. You will get a dividend, which is yielding 3.4%.
ConocoPhillips got burned the last time it was in Venezuela. Should you make a bet it will be back there in 2026?
What Else Should You Know About the Oil Stocks in 2026?
Tune into this week's podcast to find out.
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
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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/performancefor information about the performance numbers displayed in this press release.