Energy & Commodities
The oil & gas value chain and commodity-linked names.
EOG Resources Inc (EOG)
SELL. 12-month probability-weighted target $132 (-9% vs spot). P/E Multiple explains 76% of Monte Carlo outcome variance.
DT Midstream Inc (DTM)
HOLD. 12-month probability-weighted target $144 (+10% vs spot). P/E Multiple explains 86% of Monte Carlo outcome variance.
APA Corporation (APA)
HOLD. 12-month probability-weighted target $40 (-8% vs spot). P/E Multiple explains 72% of Monte Carlo outcome variance.
Viper Energy Ut (VNOM)
HOLD. 12-month probability-weighted target $44 (-2% vs spot). P/E Multiple explains 94% of Monte Carlo outcome variance.
Antero Midstream Partners LP (AM)
HOLD. 12-month probability-weighted target $24 (+3% vs spot). P/E Multiple explains 89% of Monte Carlo outcome variance.
ONEOK Inc (OKE)
HOLD. 12-month probability-weighted target $88 (-10% vs spot). Gross Margin explains 65% of Monte Carlo outcome variance.
CNX Resources Corp (CNX)
SELL. 12-month probability-weighted target $32 (-14% vs spot). P/E Multiple explains 62% of Monte Carlo outcome variance.
Range Resources Corp (RRC)
SELL. 12-month probability-weighted target $36 (-13% vs spot). P/E Multiple explains 73% of Monte Carlo outcome variance.
Devon Energy Corporation (DVN)
SELL. 12-month probability-weighted target $42 (-13% vs spot). P/E Multiple explains 75% of Monte Carlo outcome variance.
Expand Energy Corporation (EXE)
SELL. 12-month probability-weighted target $85 (-13% vs spot). P/E Multiple explains 63% of Monte Carlo outcome variance.
Kinder Morgan Inc (KMI)
HOLD. 12-month probability-weighted target $35 (+9% vs spot). P/E Multiple explains 58% of Monte Carlo outcome variance.
Diamondback Energy Inc (FANG)
SELL. 12-month probability-weighted target $180 (-10% vs spot). P/E Multiple explains 77% of Monte Carlo outcome variance.
Exxon Mobil Corp (XOM)
SELL. 12-month probability-weighted target $131 (-19% vs spot). P/E Multiple explains 55% of Monte Carlo outcome variance.
Texas Pacific Land Corporation (TPL)
HOLD. 12-month probability-weighted target $397 (+4% vs spot). P/E Multiple explains 89% of Monte Carlo outcome variance.
EQT Corporation (EQT)
HOLD. 12-month probability-weighted target $51 (-8% vs spot). P/E Multiple explains 74% of Monte Carlo outcome variance.
Murphy Oil Corporation (MUR)
HOLD. 12-month probability-weighted target $38 (+0% vs spot). P/E Multiple explains 61% of Monte Carlo outcome variance.
Halliburton Company (HAL)
HOLD. 12-month probability-weighted target $33 (-9% vs spot). Gross Margin explains 54% of Monte Carlo outcome variance.
Chevron Corp (CVX)
SELL. 12-month probability-weighted target $174 (-17% vs spot). P/E Multiple explains 58% of Monte Carlo outcome variance.
Weatherford International plc (WFRD)
SELL. 12-month probability-weighted target $80 (-15% vs spot). Gross Margin explains 61% of Monte Carlo outcome variance.
Permian Resources Corporation (PR)
SELL. 12-month probability-weighted target $21 (-13% vs spot). P/E Multiple explains 75% of Monte Carlo outcome variance.
Targa Resources Inc (TRGP)
SELL. 12-month probability-weighted target $260 (-12% vs spot). Gross Margin explains 49% of Monte Carlo outcome variance.
PBF Energy Inc (PBF)
SELL. 12-month probability-weighted target $59 (-24% vs spot). Gross Margin explains 53% of Monte Carlo outcome variance.
Ovintiv Inc (OVV)
SELL. 12-month probability-weighted target $59 (-8% vs spot). P/E Multiple explains 66% of Monte Carlo outcome variance.
Schlumberger NV (SLB)
SELL. 12-month probability-weighted target $48 (-16% vs spot). Gross Margin explains 50% of Monte Carlo outcome variance.
HF Sinclair Corp (DINO)
SELL. 12-month probability-weighted target $88 (-18% vs spot). Gross Margin explains 56% of Monte Carlo outcome variance.
Occidental Petroleum Corporation (OXY)
SELL. 12-month probability-weighted target $48 (-21% vs spot). P/E Multiple explains 70% of Monte Carlo outcome variance.
Baker Hughes Co (BKR)
SELL. 12-month probability-weighted target $50 (-21% vs spot). Gross Margin explains 58% of Monte Carlo outcome variance.
Matador Resources Company (MTDR)
SELL. 12-month probability-weighted target $50 (-16% vs spot). P/E Multiple explains 71% of Monte Carlo outcome variance.
Antero Resources Corp (AR)
SELL. 12-month probability-weighted target $33 (-16% vs spot). P/E Multiple explains 69% of Monte Carlo outcome variance.
ConocoPhillips (COP)
SELL. 12-month probability-weighted target $103 (-24% vs spot). P/E Multiple explains 66% of Monte Carlo outcome variance.
NOV Inc. (NOV)
SELL. 12-month probability-weighted target $17 (-21% vs spot). Gross Margin explains 60% of Monte Carlo outcome variance.
TechnipFMC PLC (FTI)
SELL. 12-month probability-weighted target $53 (-32% vs spot). Gross Margin explains 51% of Monte Carlo outcome variance.
Valero Energy Corporation (VLO)
SELL. 12-month probability-weighted target $248 (-35% vs spot). Gross Margin explains 64% of Monte Carlo outcome variance.
Williams Companies Inc (WMB)
SELL. 12-month probability-weighted target $59 (-22% vs spot). P/E Multiple explains 70% of Monte Carlo outcome variance.
Phillips 66 (PSX)
SELL. 12-month probability-weighted target $172 (-34% vs spot). Gross Margin explains 73% of Monte Carlo outcome variance.
Marathon Petroleum Corp (MPC)
SELL. 12-month probability-weighted target $237 (-40% vs spot). Gross Margin explains 50% of Monte Carlo outcome variance.
The 2026 Middle East Oil Shock
An in-depth research report examining the potential impact of a Middle East oil shock in 2026, covering supply disruption scenarios, price implications, and portfolio positioning strategies.
Gold Producers: Bull & Bear Case
The structural bull case for gold producers over five years, underpinned by central bank demand, fiscal dominance, and supply constraints. Five tickers with differentiated trading strategies and defined entry criteria.