Mizuho trims PT on key oil stocks over OPEC+ supply surge
15/09/2025 14:37
** Mizuho says the sheer volume of oil coming to market from OPEC+ should overwhelm robust demand and escalate geopolitical tensions early in 2026 ** "Weak power generation demand, higher than expected supply, and unexpected LNG maintenance combined to push gas storage back above 5-year averages" - Mizuho ** However, brokerage raises price targets for refiners to reflect sustained strength in cracks Brokerage changes PT on following companies:
| Company | New PT | Old PT | Upside/downside to last close |
| Exxon Mobil XOM.N | $123 | $124 | 9.6% |
| Chevron CVX.N | $191 | $192 | 21.5% |
| ConocoPhillips COP.N | $120 | $125 | 30% |
| Viper Energy VNOM.O | $51 | $55 | 32.2% |
| EQT Corp EQT.N | $60 | $66 | 10% |
| Occidental Petroleum OXY.N | $58 | $65 | 27% |
| Permian Resources PR.N | $19 | $20 | 38.6% |
| Devon Energy DVN.N | $40 | $43 | 16% |
| APA Corp APA.O | $18 | $19 | 21% downside |
| Crescent Energy CRGY.N | $10 | $12 | 15.3% |
| Phillips 66 PSX.N | $142 | $140 | 8.6% |
| Marathon Petroleum MPC.N | $188 | $184 | 4.3% |
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