Occidental and Chevron Shares Decline as Iranian Officials Reach Out to U.S., According to Reports.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 9 hours ago
0mins
Source: Barron's
- Energy Stocks Decline: Energy stocks experienced a drop early Wednesday due to market reactions to geopolitical developments.
- Iran-U.S. Communication: A report indicated that Iranian intelligence officials reached out to their American counterparts to discuss potential terms for ending ongoing conflicts.
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Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 151.830
Low
114.00
Averages
132.17
High
158.00
Current: 151.830
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Increased Market Volatility: The S&P 500 has faced significant swings in 2026 due to factors like the Iran conflict and tariff uncertainties, with the CBOE Volatility Index (VIX) rising over 50% since the start of the year, indicating heightened market instability.
- Advantages of High-Yield Stocks: High-yield dividend stocks tend to be more stable during turbulent times, as they are mature businesses with stable revenue streams, although they are not completely immune to market fluctuations.
- Vanguard High Dividend Yield ETF: The Vanguard High Dividend Yield ETF (VYM) tracks stocks with above-average dividend yields, holding 562 stocks primarily from large, established companies, with a low expense ratio of 0.04%, making it attractive for income-seeking investors.
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See More
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- Strong Employment Data: The ADP report indicates that private payrolls increased by 63,000 in February, surpassing the Dow Jones estimate of 48,000, which suggests a robust recovery in the labor market and alleviates concerns about economic slowdown.
- Services PMI Rebound: The Institute for Supply Management's Services PMI rose to 56.1 in February, the highest level since July 2022, indicating a rebound in economic activity, while the drop in prices paid by service organizations suggests potential easing of inflationary pressures.
- Oil Market Volatility: Despite ongoing conflict in Iran, oil prices saw their first decline on Wednesday, reflecting market concerns over rising energy prices, and comments from the Treasury Secretary may influence the oil market and overall market sentiment.
- Apple's New Product Launch: Apple introduced the new MacBook Neo with a starting price of $599, significantly lower than other models, appealing to budget-conscious consumers and expanding its share in the lower-priced laptop market.
See More
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- Service Sector Expansion: The US services index unexpectedly rose to 56.1, marking the fastest expansion in 3.5 years, while service price pressures fell to an 11-month low, demonstrating economic resilience that could further drive stock market gains.
- International Situation Impact: Reports of Iran making indirect contact with the US to negotiate an end to the war boosted market sentiment, although Iranian media denied the claims, the hope for an early resolution to the conflict remains.
- Oil Price Volatility: Despite crude oil prices being affected by the Iranian drone attack and the closure of the Strait of Hormuz leading to production cuts in Iraq, the market estimates a risk premium of $18 per barrel, reflecting heightened concerns over energy supply.
See More
US Stocks Fluctuate Slightly Amid Oil Price Pressures
- Market Movements: The S&P 500 Index rose by 0.03%, while the Dow Jones Industrial Average fell by 0.11%, and the Nasdaq 100 Index increased by 0.63%, reflecting a slight recovery in the market following reports of indirect contact between Iran and the US to negotiate an end to the conflict, despite ongoing global trade tensions.
- Employment Data Impact: The February ADP employment report indicated an increase of 63,000 jobs, surpassing expectations of 50,000, suggesting a resilient labor market that may support the stock market, while also raising concerns about Federal Reserve policy direction.
- Oil Price Fluctuations: Crude oil prices fell by over 1% after Iran proposed discussions with the US to end the conflict, compounded by Treasury Secretary's comments on potential 15% tariffs on imports, adding to market uncertainty.
- Economic Outlook: This week, the market will focus on US-Iran war news, corporate earnings, and economic data, with expectations for a slight decline in the February ISM services index and an increase of 3,000 in initial unemployment claims to 215,000, highlighting the complexities of economic recovery.
See More
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- Oil Price Volatility: Global benchmark Brent crude has fallen from yesterday's high of $85.12 to around $81, with Treasury Secretary Scott Bessent indicating that the Trump administration plans to announce measures to stabilize oil flows in the Persian Gulf, highlighting the need for policy intervention.
- CrowdStrike's Strong Earnings: CrowdStrike exceeded expectations across key financial metrics, with CEO George Kurtz emphasizing that AI serves as a tailwind for data protection rather than a hindrance, and despite cautious market sentiment, the stock remains flat, indicating investor confidence in its long-term prospects.
- Ross Stores' Robust Performance: Ross Stores reported a 9% increase in same-store sales for the holiday quarter, significantly surpassing the 5.1% consensus, leading to a nearly 7% premarket stock rise, demonstrating strong consumer acceptance of its off-price retail model.
- Target Stock Upgrades: Following a surprisingly positive report, Target received two upgrades from analysts, with Bernstein moving from sell to hold and Telsey Advisory Group upgrading from hold to buy with a target price of $145, reflecting market optimism regarding the new CEO's potential impact.
See More
U.S. to Support Oil Trade in the Gulf
- Oil Price Decline: U.S. crude oil prices fell 1.1% to $73.74 per barrel on Wednesday, marking the first drop since the U.S. initiated military actions against Iran, indicating market concerns over future developments.
- Government Support Measures: Treasury Secretary Scott Bessent announced that the Trump administration will provide insurance for oil tankers in the Gulf through the International Development Finance Corporation and promised naval escorts if necessary, aiming to restore market confidence.
- Strait of Hormuz Traffic Standstill: Tanker traffic through the Strait of Hormuz has nearly come to a halt as ship owners fear Iranian retaliatory strikes, with the strait being the world's most critical chokepoint for oil trade, accounting for about 20% of global oil consumption.
- Market Reaction: Despite a 6% and 5% increase in U.S. crude prices on Monday and Tuesday respectively, market sentiment turned cautious following Bessent's announcement of further support measures, leading to a decline in oil prices.
See More
