Bernstein cuts PT on oil companies amid recent supply and demand trends
Bernstein says short-cycle U.S. shale oil production can react to lower crude prices, and expects loss of 1.2 million barrels of oil per day (bopd) over the next year
"Low price can incent OPEC to step away from its strategy of adding barrels to the market" - brokerage
Brokerage expects OPEC to take market share as they have declared, forcing inventory builds (and falling price) in 2H25, forcing U.S. horizontal oil rig count down towards 320 which will remove ~1.2 mln bopd from shale oil
Brokerage changes price target on the following companies:
Company | Old PT | New PT | Upside to stock's last close |
APA Corp APA.O | $23 | $22 | 19.4% |
ConocoPhillipsCOP.N | $120 | $115 | 24.2% |
Devon DVN.N | $45 | $43 | 31.5% |
Chevron CVX.N | $168 | $149 | 1% |
Exxon XOM.N | $140 | $129 | 16% |
DiamondBack Energy FANG.O | $200 | $192 | 39.2% |
Related Articles
Should You Buy Berkshire Hathaway Post-Warren Buffett? What's Warren Buffett's Advice for 2026 Investment?
Berkshire built up a hoard of cash through 2025, accumulating nearly $400 billion—more than it had ever held before. That was by design. Berkshire, instead of joining the artificial intelligence rally that led the headlines, put the cash into short-term U.S. Treasuries with about 3.6% yields.
Digital Asset Rotation: Navigating Market Volatility With the Best Cheap Cryptos for 2026
Navigate the 2026 crypto rotation: Analyze the best cheap cryptos like Solana, Chainlink, and XRP amid Bitcoin’s volatility. Discover top picks for utility and long-term gains.
AMD Stock Price Prediction 2030: Can AMD Narrow Nvidia’s AI Lead?
TradingKey - In the past couple of years, the semiconductor industry has experienced a major change. One question that investors still have is whether or not AMD (AMD) will be able to keep up with Nvidia (NVDA) as far as AI is concerned. What is the possible future of AMD's stock through 2026 and be
