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OXY

Occidental Petroleum

$64.98

0.49 (0.76%)

, CVX

Chevron

$111.73

-0.57 (-0.51%)

06:38
01/09/19
01/09
06:38
01/09/19
06:38

Occidental, Chevron invest in CO2 removal technology

Carbon Engineering has received equity investment from two global energy companies: Oxy Low Carbon Ventures, a subsidiary of Occidental Petroleum Corporation (OXY); and Chevron Technology Ventures, the venture capital arm of Chevron Corporation (CVX). These investments will accelerate the commercialization of CE's proven Direct Air Capture technology that removes carbon dioxide directly from the air. This announcement highlights the first significant collaboration between a DAC developer and the energy industry, with two global energy leaders investing in DAC as a mechanism to reduce emissions from transportation and enable permanent capture of existing atmospheric CO2 that can be utilized both in oil production and in direct synthesis of fuels. CE has been developing DAC technology since 2009 and capturing CO2 from the atmosphere at a pilot plant in Squamish, B.C. since 2015. The DAC plants are location-independent and can be co-located with an oilfield operation for enhanced oil recovery. Occidental Petroleum is the industry leader in using CO2 to enable low-cost EOR, which can increase oil recovery by 10% to 20% in the fields where it is employed, while at the same time permanently sequestering the CO2 in the reservoir. Using atmospheric CO2 for oil recovery in this way greatly reduces the net addition of CO2 to the atmosphere from oil production and fuel use. It opens a pathway to producing fully carbon-neutral or even net-negative fuels. CE's complementary AIR TO FUELS process - which combines CO2 from DAC with clean hydrogen from water electrolysis - provides a second pathway for reducing transportation emissions by synthesizing ultra-low carbon intensity liquid fuels. CE's AIR TO FUELS products are fully compatible with existing cars, trucks, ships and planes, allowing existing vehicles to dramatically reduce their carbon emissions without modification. Reference Link

OXY

Occidental Petroleum

$64.98

0.49 (0.76%)

CVX

Chevron

$111.73

-0.57 (-0.51%)

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OXY Occidental Petroleum
$64.98

0.49 (0.76%)

12/21/18
ATLE
12/21/18
UPGRADE
ATLE
Overweight
Occidental Petroleum upgraded to Overweight from Neutral at Atlantic Equities
12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Equalweight
Occidental Petroleum downgraded to Equalweight from Overweight at Capital One
12/20/18
KEYB
12/20/18
INITIATION
Target $75
KEYB
Overweight
Occidental Petroleum initiated with an Overweight at KeyBanc
KeyBanc analyst Leo Mariani started Occidental Petroleum with an Overweight rating and $75 price target. The analyst sees a "strong" balance sheet, "top notch" acreage position in the Permian, and high dividend yield.
11/29/18
COWN
11/29/18
INITIATION
Target $80
COWN
Market Perform
Occidental Petroleum initiated with a Market Perform at Cowen
Cowen started Occidental Petroleum with a Market Perform rating and $80 price target.
CVX Chevron
$111.73

-0.57 (-0.51%)

11/05/18
11/05/18
UPGRADE
Target $138

Outperform
Chevron upgraded to Outperform on continued execution at Credit Suisse
As previously reported, Credit Suisse analyst William Featherston upgraded Chevron to Outperform from Neutral, with a $138 price target, citing continued execution, free cash flow visibility and compelling valuation. The analyst believes the company continues to execute on its already superior growth outlook, which should translate into better than expected capital efficiencies into 2019 and sets up for continued robust free cash flow. He sees upside to 2019-2020 volume forecasts supported by strong Permian growth, driving an estimated about $10B-$11B per annum of surplus free cash flow generation, which should enable Chevron to sustain competitive dividend growth and expand the scope of its current share buyback program.
11/05/18
FBCO
11/05/18
UPGRADE
FBCO
Outperform
Chevron upgraded to Outperform from Neutral at Credit Suisse
10/22/18
SIMM
10/22/18
INITIATION
Target $139
SIMM
Overweight
Chevron assumed with an Overweight at Simmons
Simmons analyst Blake Fernandez assumed Chevron with an Overweight rating and a price target of $139 as part of his broader research note on Integrated Oils, suggesting that the industry stands to benefit from the current stage of the energy cycle. Fernandez adds that Chevron is his Top Idea given that it had the worst year-to-date equity performance in the peer group and expects the stock to "play catch-up". The analyst further points to the company's "ample Permian takeaway capacity" as alleviation of "industry bottlenecks next year could prompt fund rotation back into equities with leverage" to the region.
10/03/18
REDB
10/03/18
DOWNGRADE
REDB
Neutral
Chevron downgraded to Neutral from Buy at Redburn
Redburn analyst Rob West downgraded Chevron to Neutral from Buy with a $115 fair value, down from $130 saying it benefits less from tightness in gas and increasing late cycle risks.

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ETFC

E-Trade

$48.89

0.65 (1.35%)

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TEX

Terex

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CZR

Caesars

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ERJ

Embraer

$20.85

0.17 (0.82%)

, BA

Boeing

$424.05

6.57 (1.57%)

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Periodicals
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Embraer

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BA

Boeing

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6.57 (1.57%)

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BXG

Bluegreen Vacations

$14.47

0.55 (3.95%)

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SM

SM Energy

$16.88

-0.13 (-0.76%)

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AN

AutoNation

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TSLA

Tesla

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3.42 (1.17%)

, NSANY

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$0.00

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FSFG

First Savings Financial Group

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MSFT

Microsoft

$110.97

1.5 (1.37%)

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ENT

Global Eagle

$2.66

(0.00%)

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NOC

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LYB

LyondellBasell

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TCCO

Technical Comm Corp

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0.17 (6.56%)

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INFU

InfuSystem

$4.15

0.04 (0.97%)

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KALU

Kaiser Aluminum

$108.22

-1.9 (-1.73%)

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ALDR

Alder Biopharmaceuticals

$14.35

0.19 (1.34%)

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RF

Regions Financial

$16.24

-0.01 (-0.06%)

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HL

Hecla Mining

$2.59

-0.145 (-5.31%)

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BMY

Bristol-Myers

$50.99

0.84 (1.68%)

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Celgene

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CELG

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$89.15

0.54 (0.61%)

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TEN

Tenneco

$36.29

0.76 (2.14%)

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Earnings
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