Why Chevron Stock Wilted on Wednesday
The latest mega-deal in the U.S. oil and gas industry left Chevron (NYSE: CVX) on the sidelines, with investors trading out of its stock. The company's shares fell by over 3% on the day which, interestingly, more or less matched the performance of the peer that was behind the deal. Meanwhile, the benchmark S 500 index inched higher on the day, rising by 0.4%.
Before market open, said rival, ExxonMobil, announced it is acquiring fracking specialist Pioneer Natural Resources in an all-stock transaction with a price tag of just under $60 billion.
For that very considerable price, Exxon will dramatically increase its footprint in the Permian Basin region in the Southwest U.S. -- Pioneer controls over 850,000 net acres, and Exxon's current tally is around 570,000 net acres. Permian, by the way, is the largest oil field in the country.
Source Fool.com
Southwest Airlines Co. Stock
Currently there is a rather positive sentiment for Southwest Airlines Co. with 28 Buy predictions and 11 Sell predictions.
On the other hand, the target price of 41 € is below the current price of 42.23 € for Southwest Airlines Co., so the potential is actually -2.91%.
