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StockStory49d agoneutral
SLB (SLB) Stock Trades Down, Here Is Why

Shares of oilfield services provider SLB (NYSE:SLB) fell 3% in the afternoon session after crude oil dropped to its lowest level since the start of the Iran war, as tankers resumed transit through the Strait of Hormuz and the U.S. and Iran signaled progress toward ending the conflict.

StockStory49d agoneutral
Why Baker Hughes (BKR) Stock Is Down Today

Shares of energy technology company Baker Hughes (NASDAQ:BKR) fell 4.5% in the afternoon session after crude oil dropped to its lowest level since the start of the Iran war, as tankers resumed transit through the Strait of Hormuz and the U.S. and Iran signaled progress toward ending the conflict.

StockStory49d agoneutral
Why Halliburton (HAL) Shares Are Sliding Today

Shares of oilfield services company Halliburton (NYSE:HAL) fell 3.4% in the afternoon session after crude oil dropped to its lowest level since the start of the Iran war, as tankers resumed transit through the Strait of Hormuz and the U.S. and Iran signaled progress toward ending the conflict.

Phillips 66 (PSX) Partners With Kanin Energy On 7 Megawatt Power Project
Simply Wall St.49d agoneutral
Phillips 66 (PSX) Partners With Kanin Energy On 7 Megawatt Power Project

Phillips 66 (NYSE:PSX) is partnering with Kanin Energy on a 7-megawatt waste heat to power project at its Mewbourn natural gas processing complex. The project will use waste heat from existing operations to generate electricity, targeting lower greenhouse gas emissions and improved energy efficiency. Kanin Energy is providing a turnkey solution that does not require upfront capital expenditure from Phillips 66. Phillips 66 operates across refining, midstream, chemicals, and marketing. The...

XLE’s Concentration Risk Meets Oil’s Next Move: What to Monitor in June
24/7 Wall St.51d agoneutral
XLE’s Concentration Risk Meets Oil’s Next Move: What to Monitor in June

The Energy Select Sector SPDR Fund (NYSEARCA:XLE) has had a volatile two months. XLE climbed to $61.29 on May 19 as Brent crude touched $124.61 in early April on the de facto closure of the Strait of Hormuz, then gave back 12% in a month as crude collapsed toward the mid-$80s. The fund is still ... XLE’s Concentration Risk Meets Oil’s Next Move: What to Monitor in June

Phillips 66 (PSX) Price Target Lifted at Morgan Stanley. Here is Why
Insider Monkey53d agoneutral
Phillips 66 (PSX) Price Target Lifted at Morgan Stanley. Here is Why

Phillips 66 (NYSE:PSX) is included among the 12 Best American Oil Stocks to Buy Now. Phillips 66 (NYSE:PSX) is a diversified and integrated downstream energy provider that manufactures, transports, and markets products. On June 12, Morgan Stanley analyst Joe Laetsch lifted the firm’s price target on Phillips 66 (NYSE:PSX) from $180 to $196, while keeping […]

How Valuation Jitters and Iran Deal Hopes At Phillips 66 (PSX) Have Changed Its Investment Story
Simply Wall St.57d agoneutral
How Valuation Jitters and Iran Deal Hopes At Phillips 66 (PSX) Have Changed Its Investment Story

In recent days, Phillips 66 faced pressure as concerns about potential overvaluation, insider stock sales of about US$8.1 million, and softer oil prices coincided with a broad pullback in U.S. energy shares linked to optimism about a possible U.S.–Iran agreement. At the same time, Phillips 66 continues to generate strong cash across Midstream, Chemicals, and Refining, return capital through dividends and buybacks, and reshape its portfolio, even as third-party assessments highlight weaker...