Chevron closed its $55bn acquisition of Hess on Friday after winning a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.Chevron CEO Mike Wirth’s strategy to turn around his company’s lagging performance hinged on the acquisition, one of the largest energy deals in the past decade. The prize is a stake in the prolific Stabroek Block off the coast of Guyana that holds more than 11 billion barrels of oil and is one of the fastest growing oil province ...

Core Viewpoint - Phillips 66 is anticipated to report a year-over-year decline in earnings due to lower revenues for the quarter ended June 2025, with a consensus EPS estimate of $1.63, reflecting a -29.4% change, and revenues expected at $30.54 billion, down 21.5% from the previous year [1][3]. Earnings Expectations - The upcoming earnings report is scheduled for July 25, and the stock may rise if the actual results exceed expectations, while a miss could lead to a decline [2]. - The consensus EPS estimate has been revised 0.82% higher in the last 30 days, indicating a slight bullish sentiment among analysts [4]. Earnings Surprise Prediction - The Zacks Earnings ESP for Phillips 66 is +4.25%, suggesting a higher Most Accurate Estimate compared to the Zacks Consensus Estimate, indicating a likelihood of beating the consensus EPS estimate [12]. - The stock currently holds a Zacks Rank of 3, which further supports the potential for an earnings beat [12]. Historical Performance - In the last reported quarter, Phillips 66 had a surprise of -16.88%, posting a loss of -$0.90 per share against an expected loss of -$0.77 [13]. - Over the past four quarters, the company has surpassed consensus EPS estimates three times [14]. Industry Context - Valero Energy, another player in the oil refining and marketing industry, is expected to report earnings of $1.76 per share for the same quarter, reflecting a -35.1% year-over-year change, with revenues projected at $27.84 billion, down 19.3% [18][19]. - Valero Energy also has a positive Earnings ESP of +1.22% and a Zacks Rank of 3, indicating a similar potential to beat consensus EPS estimates [20].

You must be so relieved. This has been a long path to getting here. Your stock has really felt that time pressure as well.How do you feel now that the deal is done and what it could mean for shareholders moving forward. Well, we're pleased with the decision that came out of the arbitration panel this morning. We're also pleased with the decision that came out of the FTC yesterday regarding John Hess's eligibility to serve on Chevron's board.And this really helps create a premier international oil and gas co ...

For those looking to find strong Oils-Energy stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Antero Midstream Corporation (AM) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Oils-Energy peers, we might be able to answer that question.Antero Midstream Corporation is a member of our Oils-Energy group, which includes 241 different companies and currently sits at #15 in the Zacks Sector Rank. The Zack ...

CANADA - 2025/06/04: In this photo illustration, the Sable Offshore logo is seen displayed on a ... More smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Sable Offshore (NYSE: SOC) has regained attention. The independent oil and gas operator from California, which manages offshore platforms and pipelines associated with its Santa Ynez Unit, witnessed its stock jump 28.4% on July 17, significantly surpassing the overall ...

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across key finance and investing hubs including London, New York, Toronto, Vancouver, Sydney, and Perth [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered by the team includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans to maintain best practices in content production and search engine optimization [5]

In a pivotal moment for the energy sector, Chevron Corporation‘s CVX has won a dispute with Exxon Mobil Corporation XOM over Hess Corp’s HESS offshore oil assets in Guyana.Exxon CEO Darren Woods confirmed the latest news in an interview with CNBC on Friday.The International Chamber of Commerce’s (ICC) ruling, which favors Chevron, allows the oil major to complete its $53 billion acquisition of Hess.“We disagree with the ICC panel’s interpretation but respect the arbitration and dispute resolution process. A ...

Let's get to the big deal news of the day. Chevron completing its acquisition of Hess after an arbitration panel cleared the way for their merger. $55 billion total enterprise value for the deal including debt.Chevron CEO Mike Worth joins us here at Post 9 first on CNBC to discuss the deal. Welcome. Good morning Sarah.Hey Carl. Good to see you. It's a big day for you.You have been confident all along that that you would prevail and now you got the word. How's it feel. It feels good.Uh we have maintained fro ...

Group 1 - North America Construction Group (NOA) is experiencing significant activity in the options market, particularly with the Aug 15, 2025 $17.50 Call showing high implied volatility, indicating potential for a major price movement [1][3] - Implied volatility reflects market expectations for future stock movement, suggesting that investors anticipate a significant event that could lead to a rally or sell-off [2][3] - Analysts currently rate North America Construction as a Zacks Rank 3 (Hold) within the Oil and Gas - Mechanical and Equipment Industry, which is in the bottom 13% of the Zacks Industry Rank [3] Group 2 - Over the past 60 days, no analysts have raised their earnings estimates for the current quarter, while one has lowered their estimate, resulting in a decrease in the Zacks Consensus Estimate from 66 cents to 63 cents [3] - The high implied volatility may indicate a trading opportunity, as options traders often seek to sell premium on options with high implied volatility, hoping the underlying stock does not move as much as expected by expiration [4]

Core Viewpoint - Patterson-UTI Energy, Inc. (PTEN) is expected to report a second-quarter loss of 4 cents per share with revenues of $1.21 billion, reflecting a year-over-year decline in both earnings and revenues [1][10]. Group 1: Financial Performance - In the first quarter of 2025, PTEN achieved breakeven adjusted earnings per share, outperforming the Zacks Consensus Estimate of a loss of 4 cents per share, driven by an 11.2% year-over-year reduction in costs and expenses [3]. - Total revenues for Q1 2025 were $1.3 billion, exceeding the Zacks Consensus Estimate by 7.7% [3]. - The Zacks Consensus Estimate for second-quarter 2025 earnings indicates a 180% year-over-year decline, while revenues are expected to decrease by 10.09% from the previous year [4][10]. Group 2: Cost Management - PTEN's operating costs and expenses are projected to reach $1.26 billion in the second quarter, a 3.4% decrease from the same period last year, reflecting the company's focus on streamlining operations [6]. - Direct operating costs are expected to decline from $971.2 million to $961.2 million, and depreciation, depletion, amortization, and impairment costs are anticipated to decrease from $267.6 million to $230 million [7]. Group 3: Revenue Challenges - The Zacks Consensus Estimate for second-quarter revenues is $1.21 billion, down from $1.35 billion in the year-ago quarter, attributed to poor performance in Completion Services, Drilling Services, and Drilling Products segments [8][10]. - Despite expected revenue declines across several segments, PTEN's cost management efforts are likely to mitigate the financial impact [9].