News
The day at a glance · 4 min read
Mood · Cautious
-35
Sentiment, −100 to +100
Chevron Hess Midstream Charge (low)
$3 billion
Chevron Hess Midstream Charge (high)
$4 billion
NYSE Energy Sector Index
-0.4%-0.4%
Key driverGulf of Mexico platform shutdowns from Tropical Storm Isaias tighten supply as Treasury yields reach multi-decade highs
Daily briefEnergy· Money365.Market AI ·

Gulf Storm Shuts In Oil Output; Chevron Offloads Hess

Shell and Chevron shut Gulf platforms as Tropical Storm Isaias approaches; Treasury yields hit multi-decade highs pressure energy stocks

Gulf Production Disruptions

Bearish
CVX
Shell and Chevron ($CVX) are shutting in Gulf of Mexico platforms as Tropical Storm Isaias heads for the U.S. coast, raising the stakes for tight fuel markets. The shutdowns come as oil prices climb on concerns about an escalating conflict between the US and Iran, with attacks on tankers and low global reserves keeping supply risks in focus.
Chevron ($CVX) was highlighted as Zacks Bull of the Day amid the heightened supply concerns and infrastructure focus.

Oil & Gas Majors

Neutral
CVXDVNCOP
Chevron ($CVX) is offloading Hess Midstream and taking a $3 billion to $4 billion hit as the company simplifies its portfolio and strengthens its Bakken economics. The move follows the merger with Hess and represents a strategic shift in midstream asset management. Energy stocks were lower late afternoon, with the NYSE Energy Sector Index down 0.4%.
Devon Energy ($DVN) plans to shift its corporate headquarters from Oklahoma City to Houston following its merger with Coterra Energy (common stock). The combined business intends to retain a smaller operational footprint in Oklahoma while concentrating senior leadership roles in Texas, moving Devon Energy into the main U.S. hub for large oil and gas producers and energy dealmaking activity.
Devon Energy ($DVN) announced it will report third-quarter 2026 results on Thursday, November 5, after the close of U.S. financial markets, with a conference call scheduled for Friday, November 6, at 10 a.m. CDT.
ConocoPhillips ($COP) was included in the Zacks Analyst Blog alongside Advanced Micro Devices and Palo Alto, and was featured in the Top Stock Reports for the day.

Refining

Neutral

Valero Energy Price

$424.1+1.16%
VLO
Valero Energy ($VLO) concluded the recent trading session at $424.1, signifying a +1.16% move from its prior day's close. The refiner made it to the Zacks Rank #1 (Strong Buy) growth stocks list for October 8th, 2026, alongside ATI and BEKE. However, analysis suggests that Valero Energy's exceptional, unwarranted profitability may be coming to an end as crack spreads normalize, with the stock rated Hold and primary profit driver remaining oil refining.

Oilfield Services

Neutral

SLB Price

$47.96-4.08%

10-Year Treasury Yield

5.349%

30-Year Treasury Yield

5.703%

Helmerich & Payne Price

$39.64

Helmerich & Payne 7-Day Return

6.73%+6.73%

Helmerich & Payne 90-Day Return

21.04%+21.04%

Valaris New Contracts

$220 million
SLBXOM
SLB ($SLB) closed the most recent trading session at $47.96, moving 4.08% down from the previous trading session. Jim Cramer discussed SLB ($SLB) and its expansion into data-center infrastructure during the October 2 episode of Mad Money, noting that it's not just traditional tech that benefits from the AI data center boom but also classic cyclicals like Caterpillar and Cummins for power. A number of oilfield service stocks fell in the afternoon session after surging long-term Treasury yields reached multi-decade highs and energy market tightness prompted global emergency reserve actions, with the 10-year yield touching 5.349%, its highest since April 2002, and the 30-year yield reaching 5.703%, a level last seen in May 2002.
Helmerich & Payne ($HP) (common stock) is back in focus after management flagged fiscal Q4 segment margins at or near the high end of guidance and introduced a larger FlexRobotics deployment with ExxonMobil ($XOM). For Helmerich & Payne ($HP), the latest guidance on fiscal Q4 margins and the expanded FlexRobotics rollout come against a share price of $39.64, with a 7 day share price return of 6.73% and a 90 day share price return of 21.04%.
Offshore drilling contractor Valaris has secured a series of new contracts and extensions worth approximately $220 million, adding work across Suriname, Australia and the North Sea.

Utilities

Neutral

Southern Price

$85.44

Southern 5-Year Return

64.1%+64.1%

Duke Energy 3-Year Return

43.9%+43.9%
SODUK
Southern ($SO) (common stock) has delivered a 5 year gain that many utility investors would be comfortable with, yet the recent share swings leave questions about whether the current $85.44 price is adequately backed by the earnings the business is generating today and is expected to produce in the years ahead.
Southern ($SO) has returned 64.1% over 5 years, which puts real weight on whether that performance lines up with the strength and resilience of its earnings base under the regulated utility model.
Duke Energy ($DUK) (common stock) has delivered a solid 43.9% return over the past three years, even though shorter term moves have been more mixed. That kind of long stretch of gains puts the spotlight on a basic question for a regulated utility stock that pays out steady cash: whether the current share price is well supported by the dividend stream investors are paying for.

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