Text size Spencer Platt/Getty Images Occidental Petroleum stock was rising sharply Monday. There are three reasons why. First, oil prices were surging Monday on supply fears as the U.S. and its allies...
Tag: oil extraction
Warren Buffett’s Berkshire Hathaway Has $5 Billion Stake in Occidental Petroleum
Text size Warren Buffett, CEO of Berkshire Hathaway. Johannes Eisele/AFP/Getty Images Berkshire Hathaway owns a 9.8% stake in Occidental Petroleum worth $5.1 billion after furious buying activity in s...
‘We need to increase oil & gas output immediately,’ Elon Musk says as Ukraine crisis jolts U.S. crude to 2008 high
Elon Musk voiced an unusual stance for an electric-vehicle executive on Friday. Tesla Inc.’s TSLA, -0.12% chief executive said the U.S. needs to immediately increase production of oil and gas in a twe...
Carl Icahn Slashes Stake in Occidental Petroleum
Text size These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities....
Look to the Energy Patch for a Dividend Bonanza. Devon Energy and Pioneer Natural Resources Look Good.
What was already going to be a challenging year for investors was further disrupted by Russia’s invasion of Ukraine. But in a market that has been lacking in certainty, income investors may want to ta...
Oil Is Surging. Why Oil Stocks Are Down.
Text size Oil prices are higher, but concerns about economic growth are weighing on oil stocks. Mario Tama/Getty Images Oil prices soared on Thursday after Russia invaded Ukraine. But oil stocks were ...
How Oil Could Hit $150. It’s Not Just About Russia.
Text size West Texas intermediate crude oil was trading near $94 a barrel on Monday. Spencer Platt/Getty Images By one measure, oil prices could rise to $150 a barrel this year, which would be the hig...
Oil is the hottest sector, and Wall Street analysts see upside of up to 48% for favored stocks
Energy is the best-performing stock-market sector this year. Given today’s strong economic growth and inflation, many believe oil prices could remain at current levels for years or maybe even move hig...
With Chevron Stock Near Record Highs, Analysts Are Divided
Text size A Chevron petroleum storage tank in Fort Lauderdale, Fla. The oil giant missed analysts’ earnings estimates when it reported fourth-quarter results on Friday. Joe Raedle/Getty Images C...
Wall Street: $100 Oil Might Just Be the Beginning
Text size The big question now for oil is where the U.S. dollar goes. Oil is priced in dollars and a strong dollar tends to hurt oil prices. Mario Tama/Getty Images A bet on $100 oil has gone from a l...
‘We Were Wrong’ About Exxon’s Prospects, Analyst Says
Text size Scott Olson/Getty Images A former bear on Exxon Mobil has changed his tune, and acknowledged that he underestimated the company’s comeback last year. RBC Capital Markets analyst Biraj Borkha...
Wall Street’s Favorite Oil Stocks for 2022—Including an Obscure One
Text size Bing Guan/Bloomberg Several analysts and strategists expect energy stocks to outperform the broader market in 2022, as they did in 2021. Energy tends to do well in inflationary environments,...
Exxon Could Go Even Bigger on Its Dividend
Text size David Paul Morris/Bloomberg Oil companies used to compete on how much crude they could produce. Now they’re competing on how much cash they can send back to investors. That dynamic could pay...
7 Stocks to Play the Rally in Natural Gas
Tankers bringing liquefied natural gas, or LNG, to the port of Rotterdam in the Netherlands. Exports of U.S. LNG to Europe and elsewhere are expected to ramp later in the decade. Hollandse Hoogte/Shut...