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CVX

Chevron

$123.98

0.4 (0.32%)

13:07
07/09/19
07/09
13:07
07/09/19
13:07

Chevron Phillips Chemical,Qatar Petroleum in pact to develop petrochemical plant

Chevron Phillips Chemical Company and Qatar Petroleum announced they have signed an agreement to jointly pursue development of a new petrochemical plant in the Gulf Coast region of the United States. The U.S. Gulf Coast II Petrochemical Project, USGC II, will include a 2,000 KTA ethylene cracker and two 1,000 KTA high-density polyethylene units. The signing ceremony, hosted at the White House and witnessed by President Donald Trump and His Highness, Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, included Chevron Phillips Chemical President and CEO Mark Lashier and His Excellency Mr. Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum. Chevron Corporation Chairman and CEO Michael Wirth and Phillips 66 Chairman and CEO Greg Garland also attended the ceremony. Chevron Phillips Chemical would be the majority owner with a 51% share and Qatar Petroleum would own 49% of the project. Chevron Phillips Chemical would provide project management and oversight and be responsible for the operation and management of the facility. The preliminary cost of USGC II is approximately $8B. Chevron Phillips Chemical and Qatar Petroleum expect a final investment decision no later than 2021, followed by full funding and the award of engineering, procurement and construction contracts, with targeted startup of the new facility in 2024.

  • 02

    Aug

CVX Chevron
$123.98

0.4 (0.32%)

05/13/19
SBSH
05/13/19
INITIATION
Target $135
SBSH
Buy
Chevron resumed with a Buy at Citi
Citi analyst Alastair Syme resumed coverage of Chevron with a Buy rating while lowering his price target for the shares to $135 from $142. The company's combination of yield and growth, underpinned by a competitive resource base, looks like an "attractive portfolio holding within global energy," Syme tells investors in a research note.
05/15/19
GSCO
05/15/19
UPGRADE
Target $144
GSCO
Conviction Buy
Chevron upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman Sachs analyst Neil Mehta reinstated a rating on Chevron (CVX) at Buy and added the stock to the firm's Americas Conviction List, stating that Chevron's cash flow profile has positively inflected with the production contribution and capital spending roll-off from the startup of both the Gorgon and Wheatstone LNG projects. Chevron is demonstrating capital discipline, as demonstrated by its decision not to make a counterproposal to Occidental Petroleum's (OXY) offer for Anadarko (APC), and it has a lower capital spending growth rate and a higher production growth rate through 2023 than its closest peer, Exxon (XOM), said Mehta. The analyst has a $144 price target on Chevron shares.
05/15/19
05/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Westlake Chemical (WLK) upgraded to Buy from Neutral at Goldman Sachs with analyst Robert Koort saying the stock's 49% decline over the past year has created an opportunity to gain exposure to two commodity cycles that are bottoming, ethylene and chloralkali. 2. Zillow (ZG, Z) upgraded to Buy from Neutral at Guggenheim with analyst Jake Fuller saying its recent results prove that demand for Offers "is real" and he expects the company's Offers business to surpass its ad business by Q4 and generate greater than $1B of revenue in its first full year. 3. Chevron (CVX) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Neil Mehta saying Chevron's cash flow profile has positively inflected with the production contribution and capital spending roll-off from the startup of both the Gorgon and Wheatstone LNG projects. 4. Hess Corp. (HES) upgraded to Equalweight from Underweight at Capital One with analyst Phillips Johnston saying he reviewed his model post Q1 earnings and "massively" overhauled his Guyana production estimates. 5. Applied Materials (AMAT) and Advanced Energy (AEIS) upgraded to Positive from Neutral at Susquehanna. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/19
ARGS
05/16/19
DOWNGRADE
ARGS
Hold
Occidental Petroleum downgraded to Hold from Buy at Argus
Argus analyst Bill Selesky downgraded Occidental Petroleum (OXY) to Hold after its confirmed purchase of Anadarko Petroleum (APC) for $76 per share, saying the company is overpaying for the assets with a bid well above that of Chevron's (CVX) $65 per share offer. The analyst believes that Occidental will "have difficulty" achieving the forecasted $3.5B cost synergies from the transactions. Selesky also contends that Anadarko's LNG and offshore assets are not a good strategic fir for Occidental, adding that its valuation multiple near the low end of 52-week range is "warranted."

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SNAP

Snap

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SMBC

Southern Missouri Bancorp

$31.95

-0.3 (-0.93%)

18:33
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SSRM

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SNAP

Snap

$14.14

0.12 (0.86%)

18:23
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HD

Home Depot

$211.23

-1.79 (-0.84%)

18:22
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AN

AutoNation

$42.01

-0.045 (-0.11%)

18:21
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AN

AutoNation

$42.01

-0.045 (-0.11%)

18:17
07/22/19
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CR

Crane

$86.50

0.99 (1.16%)

18:15
07/22/19
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18:15
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Earnings
Crane backs FY19 adjusted EPS view of $6.25-$6.45, consensus $6.41 »

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CR

Crane

$86.50

0.99 (1.16%)

18:14
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Earnings
Crane Co. reports Q2 EPS ex-items $1.58, consensus $1.56 »

Reports Q2 revenue $842M,…

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AN

AutoNation

$42.01

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GOOG

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STLD

Steel Dynamics

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0.09 (0.29%)

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FBMS

First Bancshares

$29.74

-0.105 (-0.35%)

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  • 23

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STLD

Steel Dynamics

$31.55

0.09 (0.29%)

18:03
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  • 23

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STLD

Steel Dynamics

$31.55

0.09 (0.29%)

18:01
07/22/19
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Earnings
Steel Dynamics reports Q2 EPS 87c, consensus 89c »

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  • 23

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FDEF

First Defiance Financial

$27.22

-0.04 (-0.15%)

17:58
07/22/19
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17:58
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Earnings
First Defiance Financial reports Q2 EPS 61c, consensus 58c »

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  • 23

    Jul

QCOM

Qualcomm

$75.93

0.9 (1.20%)

, INTC

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QCOM

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INTC

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AAPL

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SPY

SPDR S&P 500 ETF Trust

$297.82

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$0.00

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SPX

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$0.00

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WAFD

Washington Federal

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-0.12 (-0.34%)

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FBMS

First Bancshares

$29.74

-0.105 (-0.35%)

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Earnings
First Bancshares reports Q2 EPS ex-items 79c, consensus 69c »

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  • 23

    Sep

NTDOY

Nintendo

$0.00

(0.00%)

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Law firm sues Nintendo over Joy-Con drift, Polygon reports »

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OEC

Orion Engineered

$18.41

0.05 (0.27%)

17:33
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Hot Stocks
Orion Engineered announces price increases »

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HMST

HomeStreet

$27.76

-0.03 (-0.11%)

17:31
07/22/19
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Earnings
HomeStreet reports Q2 core EPS 13c, consensus 52c »

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