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Opinions David Dietze
Chevron TexacoCVXTOP PICKSep 05, 2017
David DietzeStock price when the opinion was issued
As of Jun 11, 2026. Market Open.
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Wouldn't own now. Had a good rally, and has been outperforming off the Venezuela noise. They patronize Trump the most, and so they got preferential status, while Exxon calls the country "uninvestable". Has modest operations in Venezuela of 2% of its volumes and cashflow.
Huge rally on Trump guaranteeing security, which he's backpedaled on. Too much euphoria in the hype. Trades at a premium. He'd invest in CVE instead.
Oil stocks rallied hard today on news that Columbian president Maduro has been captured, but stocks like this opened too high. So, you must expect losses. The oil story where US oil stocks will benefit from Venezuela's reserves will take YEARS to play out, not days. Nobody will buy these stocks as soon as tomorrow. Also, the oil price has been going down.
She sold late last year for profits but she still likes it for its profitability. There will be some volatility with the energy cycles. Trades at 11 times 2026 free cash flow and pays a dividend of 4%. She sees only 7% upside but has it on her watch list and could trade it.
Brianne GardnerHe stays home for oil and gas stocks, especially because years of underappreciating Canada has led to lower valuations. For dividends coming from the O&G patch, especially in Canada where they're tax-effective, there's no better place to be. With this name, you're buying the oil price, but he believes more in the gas price.
She is following it. Has a good dividend of 4.6 to 4.7. It is very volatile but is one of the best positioned with a strong balance sheet. She sees upside and free cash flow of 9%. It is one of the fastest growing in the offshore basin. There is an oil overhang due to softer prices but you could set up for a compelling entry price point.
He would be in a weakened industry group, because if the stock has underperformed along with the whole industry, there is less of a risk that it would be a specific company issue. When the whole industry rebounds, some companies don’t. This is the 4th largest dividend payer and is globally diversified. He particularly likes some new gas operations they have in Asia, some of the prime property they have in the Permian Basin and some great refining assets in California. They are going to have some new management and are firmly committed to their dividend. Dividend yield of 3.9%. (Analysts’ price target is $119.)