News
The day at a glance · 3 min read
Mood · Mixed
-15
Sentiment, −100 to +100
Valero Close
$444.06-3.42%
Phillips 66 Close
$289.2-2.72%
Valero 90-Day Return
53.13%
Key driverRefiner stocks declined as markets advanced, while oil majors saw mixed analyst activity and LNG export capacity decisions emerged from Guyana operations.
Daily briefEnergy· Money365.Market AI ·

Refiners Slip on Profit-Taking; Chevron Raised

Valero and Phillips 66 retreat despite upgrade and narrower market losses; Chevron fair value lifted on project and commodity views.

Refining Sector

Neutral
01VLO▼ -3.42%
Valero Energy ($VLO) closed at $444.06, declining -3.42% despite broader market gains, according to session data. The refiner jumped following a Citigroup upgrade that highlighted long-term refinery capture trends and wider heavy crude discounts, though the analyst flagged risks tied to the refining cycle. The stock has posted a 30-day return of 20.06% and a 90-day move of 53.13% as investors focus on heavy crude discounts, strong refining economics, and the upcoming October 22 earnings update.
02PSX▼ -2.72%
Phillips 66 ($PSX) closed at $289.2, marking a -2.72% decline from the prior session, as the refiner underperformed the broader market advance. The stock appeared on Zacks Rank #1 (Strong Buy) growth stocks list.

Oil & Gas Majors

Neutral

Chevron Fair Value (Prior)

$222.67

Chevron Fair Value (New)

$227.71

Guyana LNG Capacity (Planned)

6M tons

Guyana LNG Capacity (Potential)

3M tons

Devon Close

$49.24-1.36%
01CVX
Chevron ($CVX) saw its fair value estimate shift from $222.67 to $227.71, signaling a modest reset in where analysts now place the stock's long-term worth per share. Recent commentary links these higher targets to updated commodity assumptions, large project updates, and balance sheet decisions, which together shape how much valuation room analysts see from here. The company generated $18.1 billion of free cash flow in the second quarter of 2026, according to dividend comparison analysis.
02XOM▼ -1.32%
ExxonMobil ($XOM) faces a potential shift in Guyana LNG export plans, as the country may prioritize domestic gas supplies or halve its planned LNG export capacity from 6 million to 3 million tons annually. The decision reflects competing priorities between Exxon's oil production boom in the region and Guyana's domestic energy needs.
03DVN▼ -1.36%
Devon Energy ($DVN) closed at $49.24, declining -1.36% from the previous session despite broader market gains. Scotiabank initiated coverage of the independent exploration and production company at Sector Outperform.

Utilities & Power Generation

Neutral
SO
01SO
Southern Company ($SO) received U.S. Department of Energy approval for cost-shared funding for the final stage of its Molten Chloride Reactor Experiment, aimed at developing the world's first fast-spectrum molten chloride salt reactor to reach criticality as early as 2027. This federal backing strengthens Southern's role in advanced nuclear research, potentially broadening its long-term technology toolkit beyond traditional regulated utility operations. The company is also building and operating power plants for data centers, capitalizing on massive power demand from that sector.
02SO
Alabama Power, a Southern Company ($SO) subsidiary, completed restoration efforts following Hurricane Isaias, which brought widespread impacts across the company's service territory and caused more than 400,000 customer outages.
03
Georgia Power, another Southern subsidiary, highlighted customer assistance and energy-saving resources during Energy Efficiency Month as Georgians prepare their homes for cooler temperatures.

Oilfield Services

Neutral
01HAL
Halliburton ($HAL) announced the appointment of David Hernandez to its board of directors to serve until the Company's 2027 Annual Meeting of Shareholders. Mr. Hernandez will be subject to annual election by the company's shareholders thereafter.

Sector Performance

Bullish

Energy Sector YTD

50%

Long-Term Treasury Yields

5%
COP
01
The energy sector has posted a year-to-date gain of 50% on Strait of Hormuz risk and strong demand, according to analysis of the Energy Select Sector SPDR Fund. Long-term U.S. Treasury yields near 5% are forcing investors to reassess equity allocations, with cash and bonds now offering visible income alongside the potential upside of dividend-paying energy equities. Energy names yielding above 3% have drawn attention as investors seek both regular cash payouts and equity participation.

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