Energy & Commodities
The oil & gas value chain and commodity-linked names.
APA Corporation (APA)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $96, +195% vs spot. It needs the multiple to hold or expand.
EOG Resources Inc (EOG)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $335, +158% vs spot. It needs the multiple to hold or expand.
Chevron Corp (CVX)
The bull case — 'Geopolitical Spike' (7% weight) — targets $361, +118% vs spot. It needs the multiple to hold or expand.
Kinder Morgan Inc (KMI)
The bull case — 'Bull — Infrastructure Re-Rate' (8% weight) — targets $54, +68% vs spot. It needs the multiple to hold or expand.
Exxon Mobil Corp (XOM)
The bull case — 'Geopolitical Spike' (7% weight) — targets $277, +103% vs spot. It needs the multiple to hold or expand.
Devon Energy Corporation (DVN)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $102, +147% vs spot. It needs the multiple to hold or expand.
ONEOK Inc (OKE)
The bull case — 'Bull — Infrastructure Re-Rate' (8% weight) — targets $145, +66% vs spot. It needs Gross Margin to surprise to the upside.
Diamondback Energy Inc (FANG)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $429, +144% vs spot. It needs the multiple to hold or expand.
Valero Energy Corporation (VLO)
The bull case — 'Crack Spike' (7% weight) — targets $548, +111% vs spot. It needs Gross Margin to surprise to the upside.
Halliburton Company (HAL)
The bull case — 'Bull — Offshore + LNG Build' (8% weight) — targets $68, +101% vs spot. It needs Gross Margin to surprise to the upside.
Occidental Petroleum Corporation (OXY)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $118, +144% vs spot. It needs the multiple to hold or expand.
Expand Energy Corporation (EXE)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $207, +127% vs spot. It needs the multiple to hold or expand.
ConocoPhillips (COP)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $249, +139% vs spot. It needs the multiple to hold or expand.
Marathon Petroleum Corp (MPC)
The bull case — 'Crack Spike' (7% weight) — targets $565, +121% vs spot. It needs Gross Margin to surprise to the upside.
Schlumberger NV (SLB)
The bull case — 'Bull — Offshore + LNG Build' (8% weight) — targets $98, +112% vs spot. It needs Gross Margin to surprise to the upside.
EQT Corporation (EQT)
The bull case — 'Price Spike ($100+)' (7% weight) — targets $124, +133% vs spot. It needs the multiple to hold or expand.
Baker Hughes Co (BKR)
The bull case — 'Bull — Offshore + LNG Build' (8% weight) — targets $104, +87% vs spot. It needs Gross Margin to surprise to the upside.
Targa Resources Inc (TRGP)
The bull case — 'Bull — Infrastructure Re-Rate' (8% weight) — targets $443, +65% vs spot. It needs Gross Margin to surprise to the upside.
Phillips 66 (PSX)
The bull case — 'Crack Spike' (7% weight) — targets $381, +125% vs spot. It needs Gross Margin to surprise to the upside.
Texas Pacific Land Corporation (TPL)
The bull case — 'Bull — Activity + Multiple Expansion' (8% weight) — targets $695, +59% vs spot. It needs the multiple to hold or expand.
Williams Companies Inc (WMB)
The bull case — 'Bull — Infrastructure Re-Rate' (8% weight) — targets $99, +34% vs spot. It needs the multiple to hold or expand.
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