News
The day at a glance · 2 min read
Mood · Risk-Off
-45
Sentiment, −100 to +100
XOM Price
$158.30-3.2%
XOM Target (Mid)
$170
CVX Price
$203.78-2.73%
Key driverOil and gas majors traded lower despite strategic expansion into Venezuela by multiple operators
Daily briefEnergy· Money365.Market AI ·

Energy Stocks Slide; Venezuela Re-entry Expands

Oil majors declined sharply as ExxonMobil and Halliburton advance Venezuelan operations; Georgia Power strikes nuclear deal with Google

Oil & Gas Majors

Bearish

OXY Price

$57.25-2.7%

PSX Price

$261.75-4.17%
XOMCVXOXYPSX
ExxonMobil ($XOM) closed at $158.3, down -3.2%, as the company nears a return to Venezuela after 19 years of absence. The stock currently trades at against a mid-target of approximately $170 and a Street target of around $171, representing potential total return of approximately 4%. According to RBC, refining upside could offset lost earnings from the company's Middle East exposure.
ExxonMobil ($XOM) is also expanding its Gulf Coast carbon capture and storage network, targeting up to 100 million metric tons of CO2 storage capacity annually.
Chevron ($CVX) declined -2.73% to close at $203.78 as U.S. oil imports from Venezuela reached a 9-year high, with the company quietly positioned to capture more of that surge than any other operator. The influx of Venezuelan crude into American refineries represents levels not seen in nearly a decade.
Occidental Petroleum ($OXY) fell -2.7% to $57.25, trading below Wall Street's raised targets. The stock has a mid-target of approximately $63 and a Street mean target of around $68, representing potential total return of approximately 7%. Separately, Occidental ($OXY) closed at in another session reference.
Phillips 66 ($PSX) dropped -4.17% to settle at $261.75 in the broader energy sector weakness.

Oilfield Services & Venezuela

Neutral
HAL
Halliburton ($HAL) signed new memoranda of understanding to support Venezuela's oil and gas sector. One of the MoUs will see Halliburton ($HAL) work with Brazil's Eneva to explore and develop potential energy projects in Venezuela. The company also signed agreements with Venezuelan engineering firm WESCA as the U.S. oilfield services giant positions itself for a broader revival of Venezuela's oil and gas industry.

Utilities & Nuclear

Bullish

Georgia Power-Google Deal Value

$900M

NEE Market Cap

$190B
SONEE
Georgia Power and Google announced a new agreement that will advance clean and reliable nuclear energy in Georgia while providing approximately $900 million in projected benefits for customers. Nuclear energy has long been an important part of Georgia's energy mix, with more than 25 percent of energy produced last year coming from nuclear, including the nation's largest generator of clean energy, Plant Vogtle near Waynesboro, Georgia. Georgia Power is part of Southern Company ($SO).
NextEra Energy ($NEE) is the world's largest electric utility, with an almost $190 billion market capitalization. An analyst upgraded the stock to a strong buy, citing undervaluation with a potential Dominion Energy merger.

Corporate Activity

Neutral

DVN Shares Sold

4,000

Sale Value

$200,000

Remaining Holdings Value

$49.7M
DVN
A Devon Energy ($DVN) CEO liquidated nearly 4,000 shares valued at almost $200,000. The disposition followed vesting of 53,979 restricted stock units, leaving the executive with nearly 1 million shares worth $49.7 million.

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