Welcome to the MarketReader Energy Minute.

Below are AI-generated insights on moves in the energy sector, powered by MarketReader technology.

Thursday, July 18

XLE [+0.7%]
The Energy Select Sector SPDR Fund (XLE) saw a notable increase of 0.9% today, coinciding with positive movements in its key holdings: ExxonMobil received an Outperform rating and $146 target price from Wolfe Research; Chevron faced control conflicts over Hess' Guyana asset alongside reinstated Peerperform rating by Wolfe; Kinder Morgan highlighted strong operational performance with anticipated growth until 2030 due to LNG exports rise. Additionally, XLE's bullish momentum may be influenced by significant options trading activities for Exxon Mobil and potential market expectations surrounding the company's performance based on investor sentiment analysis suggesting favorable outcomes if prices break above calculated levels.

USO [-0.7%]
Crude oil prices rose due to a larger-than-expected drawdown in U.S. inventories, triggering buying and causing WTI crude futures to bounce off the 100-day moving average. Additionally, Russia plans output cuts while OPEC+ is unlikely to adjust oil output policy at its upcoming meeting on August 1st as reported by Reuters sources - coinciding with United States Oil Fund LP experiencing a -0.1% price movement since Wednesday's market close during the pre-market session today.

BOIL [+7.1%]
ProShares Ultra Bloomberg Natural Gas (BOIL) has increased by 4.7% since Wednesday's close, coinciding with a notable rise in the price of Natural Gas (XNG/USD) today following the United States Philadelphia Fed Manufacturing Index surpassing expectations and indicating significant growth in manufacturing activity for July 2024. The index surged to 13.9 from the previous month's reading of 1.3, pointing towards continued growth over the next six months due to increased factory activity, which has positively influenced BOIL movements during current market hours on Thursday.

XOM | $118.26 | +0.7% | +3.5B

KMI | $21.19 | +3.2% | +1.5B

OKE | $83.52 | -2.2% | -1.1B

KMI | +3.2% | +1.5B
Kinder Morgan Inc has seen a +1.7% increase in its price since Wednesday's close, coinciding with slightly below-expected Q2 earnings and sales figures reported by the company yesterday. Despite missing estimates, KMI highlighted strong operational performance and emphasized their role in preserving US energy security while supporting global LNG demand through projects like Elba Island's export facility. Additionally, there is anticipation of significant growth in natural gas demand driven by increased exports to Mexico and rising electric demands for power generation as per recent CEO remarks citing evidence from Texas' forecasted electricity needs along with $AMZN’s data center plans for expansion beyond 2030.

XOM | +0.7% | +3.5B
Exxon Mobil Corp stock price increased by 0.7% following Wolfe Research initiating coverage with an Outperform rating and a $146 price target, amidst conflicting reports of control over Hess' Guyana asset against Chevron. Additionally, recent analyst ratings include Bernstein's Outperform with a $138 target, Barclays Overweight targeting $142, UBS advising to Buy aiming for $154; RBC Capital revised its stance to Sector Perform setting the price at $135 due to market activities around options trading on XOM. The correlation between Exxon Mobil and Kinder Morgan Inc.'s 1.74% movement post-Q2 earnings miss possibly influenced XOM's performance given their historical relationship in the marketplace today.

TTE | +1.5% | +2.4B
TotalEnergies SE received a new Outperform rating from Wolfe Research analyst Doug Leggate, with an assigned price target of $87. Another source also initiated coverage on TotalEnergies ADRs at the same rating level. The stock closed yesterday at $68.32 before experiencing a 1.6% increase in its price since then, coinciding with this positive outlook and target set by analysts for the company's performance going forward within the market conditions today.

CVX | +0.3% | +942.9M
Chevron Corp's stock price has moved -0.3% in the pre-market session following reports of a dispute with Exxon over Hess' Guyana asset change of control, potentially impacting operations. Wolfe has also reinstated a Peerperform rating for Chevron today, coinciding with this movement.

TS | +0.8% | +278.3M
Tenaris SA experienced a notable increase in price movement today, rising by 1.1% from the previous close. This positive trend coincided with Kinder Morgan Inc's 1.74% gain after their Q2 earnings report, which highlighted strong operational performance and expressed support for global LNG demand via projects like Elba Island's export facility.

[WHITF] Whitehaven Coal Ltd Sees Strong Performance Over the Past Month

• Goldman Sachs raises price target to AUD8.10, boosting stock by 4.7% on July 3rd.
• UBS increases price target to AUD9.65 with a Buy rating on July 8th.
• Analysts highlight growth potential and value proposition within the coal industry sector.

Over the past month, Whitehaven Coal Ltd (WHITF) experienced a notable positive price action of 13.4%, significantly outperforming the S&P 500 by 10.2%. This strong performance was influenced by key events and sentiments within the market.

On July 3rd, WHITF saw a significant bullish move of +4.7% following Goldman Sachs raising its price target to AUD8.10 from AUD7.40 while maintaining a Neutral rating. Analysts highlighted growth potential in WHITF's future performance and value proposition within the coal industry sector, contributing to this increase.

Moreover, on July 8th, UBS raised WHITF's price target to AUD9.65 from AUD8.85 with a Buy rating by analyst Lachlan Shaw, further boosting positive sentiment around the company's outlook and potentially influencing its stock performance positively in the near term.

These upward revisions in price targets by major financial institutions underscored confidence in WHITF's prospects and contributed to its overall bullish trend during this period.

Whitehaven Coal Ltd outperformed both broader market indices like S&P 500 which had a return of only 3.3% over the same period as well as Energy (XLE) sector reflecting robust performance compared to these benchmarks.

Whitehaven Coal Ltd outperformed the Energy (XLE) sector by 10%.

Open MarketReader to see more.

Thank you for spending a minute with us. 

If you have 2 more minutes, watch this demo of the MarketReader Platform: