Oil Sands Alliance Targets Late 2027 for Pathways Project Final Investment Decision
ConocoPhillips Canada is part of an industry group aiming to reach a final investment decision on a major carbon capture and storage project by late 2027.
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Brent topped $100 after US strikes on Iranian tankers. Refiners have doubled in 2026. Airlines, REITs and gold miners are on the wrong side.
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ConocoPhillips Canada is part of an industry group aiming to reach a final investment decision on a major carbon capture and storage project by late 2027.
Piper Sandler has initiated coverage on ConocoPhillips with a 'Hold' rating and a price target of $157.
Seven sectors are higher and four are lower in Tuesday's regular session, with growth and cyclical sectors split across the top three positions. The leaders are separated rather than clustered, with Technology clearly ahead of the next group.
VDE is a passively managed energy sector ETF with $11.7 billion in assets and a low 0.09% expense ratio. The fund has delivered strong performance with 56.74% year-to-date gains and 59.23% one-year returns, though it carries high risk with a 21.45% standard deviation. Top holdings include ExxonMobil (21.82%), Chevron, and ConocoPhillips.
Chevron and Occidental Petroleum both experienced significant revenue surges in Q2 2026, driven by an oil price shock following an unexpected U.S. war with Iran starting in February 2026. Chevron's revenue jumped over 50% year-over-year to $67.2 billion, while Occidental's sales rose over 30% to $8.3 billion. However, analysts warn that persistently high oil prices could harm long-term demand as consumers reduce travel and switch to alternatives like EVs and mass transportation.
Chevron stock delivered impressive 52% returns over the past year, turning a $10,000 investment into $15,204, significantly outperforming the S&P 500's 16.3% gain. Despite the strong performance, the stock appears reasonably valued with a forward P/E ratio of 16.5 and offers a 3.14% dividend yield with growing payouts. The company's expansion into Venezuelan oil and refining capabilities position it well for long-term income-seeking investors.