Market Overview
According to MarketBeat's stock screener tool, seven oil companies are among those with the highest dollar trading volumes within the last several days. The stocks identified for monitoring on June 21 include ExxonMobil Corporation (XOM), Chevron Corporation (CVX), ConocoPhillips (COP), SLB Limited (SLB), EOG Resources (EOG), Devon Energy Corporation (DVN), and Valero Energy Corporation (VLO).
ExxonMobil Corporation
ExxonMobil engages in the exploration and production of crude oil and natural gas in the United States and internationally. The company operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments.
The company reported Q1 earnings of $1.16 per share, surpassing expectations. Q1 revenue was recorded at $83.16 billion. ExxonMobil announced a quarterly dividend of $1.03 per share.
Analysts' views are split between "Buy" and "Hold" ratings, with a consensus price target of $165.70. The company is expanding exploration in Guyana's Stabroek Block, planning up to 35 new wells between 2028 and 2033.
According to reports, the stock has experienced selling pressure due to weaker oil prices and a softer sector backdrop. This situation was exacerbated by an understanding between the U.S. and Iran potentially easing sanctions on Iranian oil exports.
Chevron Corporation
Chevron Corporation engages in integrated energy and chemicals operations in the United States and internationally. The company operates in two segments: Upstream and Downstream.
Berkshire Hathaway reduced its stake in Chevron by 35%, selling 45.7 million shares, though it still holds approximately $17 billion of Chevron stock.
Chevron's stock price fell from a 52-week high of $214.71 to $173.63, representing a decrease of 17.77%. This decline followed a decrease in crude oil prices.
The company reported Q1 earnings of $1.41 per share, exceeding analyst estimates. However, Q1 revenue of $47.56 billion fell short of expectations. Chevron has a 4.1% dividend yield, with an annualized payout of $7.12 per share.
Wall Street maintains a "Moderate Buy" rating for the stock with an average price target of $205.70. On June 16, HelleniQ Energy agreed to grant Chevron a 70% interest in the Block 10 offshore concession in Greece, with Chevron assuming operatorship.
ConocoPhillips
ConocoPhillips reported Q1 2026 adjusted EPS of $1.89, beating the consensus estimate of $1.65. The company is expanding its liquefied natural gas (LNG) activities across multiple regions and maintains significant Permian Basin assets.
In May 2026, ConocoPhillips signed a 30-year Alaska LNG supply deal with Glenfarne. The company's stock has declined due to a pullback in crude prices, and Q1 earnings and adjusted earnings were reported as having declined from the previous year.
SLB Limited
SLB reported Q1 EPS of $0.52, slightly ahead of expectations. The company announced a quarterly dividend of $0.295 per share.
Analysts maintain a "Moderate Buy" rating with an average target of $60.83. Rockefeller Capital Management increased its stake by 180.1% in the fourth quarter, while EVP Steve Matthew Gassen sold 53,379 shares on May 1st.
EOG Resources
EOG Resources reported Q1 2026 adjusted EPS of $3.41, exceeding the $3.19 consensus estimate. Net income rose 35.3% to $1.98 billion, and revenue reached $6.92 billion.
The company's Board increased its total Share Repurchase Authorization to $20 billion. EOG Resources is expanding into Canadian coalbed methane development and is pursuing international joint ventures for unconventional gas exploration.
Devon Energy Corporation
Devon Energy reported Q1 earnings of $1.04 per share, missing estimates. Revenue was recorded at $3.81 billion, down 14.5% year-over-year. The company raised its quarterly dividend to $0.32 per share.
Analysts maintain a "Moderate Buy" rating with an average price target of $58.44. Devon Energy completed its merger with Coterra Energy in May and expects to capture $600 million in synergies in 2027.
Valero Energy Corporation
Valero reported Q1 earnings of $4.22 per share, exceeding estimates. Revenue was recorded at $32.38 billion, up 7% year-over-year. The company declared a quarterly dividend of $1.20 per share.
Analyst sentiment is mixed, with an average "Moderate Buy" rating and a price target of $245.59. On June 18, SVP Eric A. Fisher sold 7,500 shares of Valero Energy stock.
Oil Market Context
Oil futures have declined following an understanding between the U.S. and Iran. According to analysts, this development eased supply shortage concerns. Brent crude fell to $78.89 a barrel after earlier climbing to $82.30.
Global oil stockpiles have decreased by 190 million barrels, while U.S. emergency reserves are at a 43-year low. Analysts suggest that despite falling prices, the world is running low on crude. Additionally, analysts note that the reopening of the Strait of Hormuz does not guarantee a rapid refill of supply.