{"id":59515,"date":"2024-07-04T06:00:48","date_gmt":"2024-07-04T10:00:48","guid":{"rendered":"https:\/\/www.ino.com\/blog\/?p=59515"},"modified":"2024-08-19T09:03:36","modified_gmt":"2024-08-19T13:03:36","slug":"oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector","status":"publish","type":"post","link":"https:\/\/wwwtest.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/","title":{"rendered":"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector"},"content":{"rendered":"

The<\/span> recent presidential debate<\/span><\/a> between President Joe Biden and former President Donald Trump has stirred significant movements in the equity markets, especially within the energy sector. Biden\u2019s<\/span> shaky performance<\/span><\/a> drove sentiment around Trump\u2019s odds of securing a second term in the White House, propelling stocks of private prisons, credit card companies, and health insurance firms.<\/span><\/p>\n

However, the most notable surge has been in oil stocks, reflecting Trump\u2019s pro-oil policies and the market\u2019s anticipation of potential benefits under his presidency.<\/span><\/p>\n

Trump\u2019s Pro-Oil Policies: A Catalyst for Growth<\/b><\/p>\n

Trump\u2019s administration has consistently advocated for deregulation and expansion of oil drilling activities, and a second term could amplify these policies. Last month, Donald Trump told Senate Republicans<\/span> he would restart oil drilling<\/span><\/a> in Alaska\u2019s Arctic National Wildlife Refuge if re-elected. This promise is seen as a green light for increased oil production, potentially boosting the profitability and growth of oil companies.<\/span><\/p>\n

Moreover, Trump<\/span> offered to roll back environmental regulations<\/span><\/a>, hasten permitting and leasing approvals, and enhance tax benefits that the energy industry enjoys if top U.S. oil executives agreed to donate $1 billion for his White House re-election. Lower regulatory hurdles could lead to cost reductions for oil companies, making exploration and drilling more economically viable.<\/span><\/p>\n

In the wake of the debate, energy stocks emerged as some of the best performers of the S&P 500 index despite a slight dip in Brent crude and West Texas Intermediate prices.<\/span> Baker Hughes Co. (BKR)<\/span><\/a> led the sector\u2019s rally, with<\/span> Valero Energy Corporation (VLO)<\/span><\/a>,<\/span> Phillips 66 (PSX)<\/span><\/a>,<\/span> Targa Resources Corp. (TRGP)<\/span><\/a>, and<\/span> Occidental Petroleum Corporation (OXY)<\/span><\/a> following suit.<\/span><\/p>\n

This recent surge is primarily driven by the market\u2019s reaction to Trump\u2019s potential White House re-election, which is perceived to favor the oil and gas industry significantly.<\/span><\/p>\n

Top Beneficiaries of Pro-Oil Stance From Trump<\/b><\/p>\n

Phillips 66 (PSX)<\/b><\/p>\n

Valued at a market cap of $59.51 billion,<\/span> Phillips 66 (PSX)<\/span><\/a> is a global energy manufacturing and logistics company. It operates in four segments: Midstream; Chemicals; Refining; and Marketing and Specialties (M&S). The company\u2019s diversified operations could benefit from reduced regulatory pressures and expansion of oil drilling activities supported by Trump\u2019s pro-oil policies.<\/span><\/p>\n

On May 21, Phillips 66<\/span> agreed to acquire Pinnacle Midland Parent LLC<\/span><\/a> from Energy Spectrum Capital in a strategic move to expand its natural gas gathering and processing footprint in the Midland Basin. Pinnacle\u2019s assets encompass the newly built Dos Picos natural gas gathering and processing system: a 220 MMcf\/d gas processing plant, 80 miles of gathering pipeline, and 50,000 dedicated acres through high-quality producers in one of PSX\u2019s focus basins.\u00a0<\/span><\/p>\n

Mark Lashier, Chairman and CEO of Phillips 66, said, \u201cPinnacle is a bolt-on asset that advances our wellhead-to-market strategy and complements our diversified and integrated asset portfolio. Further, this transaction aligns with our long-term objectives to build out our natural gas liquids value chain, be disciplined with our capital allocation and create sustainable value for our shareholders.\u201d<\/span><\/p>\n

Also, in April, PSX\u2019s Board of Directors approved a quarterly dividend of $1.15 per share,<\/span> representing a rise of 10%<\/span><\/a>. The dividend was paid on June 3, 2024, to shareholders of record as of the business close on May 20, 2024. The dividend increase demonstrates the company\u2019s confidence in its growing mid-cycle cash flow generation and disciplined capital allocation strategy, which includes maintaining a secure and competitive dividend.<\/span><\/p>\n

Since its establishment in 2012, Phillips 66 has consistently increased its dividend, resulting in a CAGR of 16%. Moreover, the company is well-poised to continue delivering substantial shareholder value by executing its strategic priorities, including returning $13-$15 billion to shareholders via dividends and share repurchases from July 2022 to the year-end 2024.<\/span><\/p>\n

For the<\/span> first quarter<\/span><\/a> that ended March 31, 2024, PSX reported revenue of $36.44 billion, beating analysts\u2019 estimate of $33.56 billion. Its adjusted earnings were $822 million, or $1.90 per share, respectively. During the quarter, refining operated at 92% crude utilization. As of March 31, 2024, the company had cash and cash equivalents of $1.60 billion and $3.50 billion of committed capacity available under its credit facility.<\/span><\/p>\n

Further, Phillips 66, through the successful execution of its strategic priorities, remains committed to increasing mid-cycle adjusted EBITDA to $14 billion by 2025 and returning more than 50% of operating cash flow to shareholders.<\/span><\/p>\n

PSX\u2019s stock is up around 5% year-to-date and has gained more than 45% over the past year.<\/span><\/p>\n

Occidental Petroleum Corporation (OXY)<\/b><\/p>\n

Occidental Petroleum Corporation (OXY)<\/span><\/a> also stands to gain significantly from Trump\u2019s pro-oil stance. OXY is a leading energy company with assets mainly in the U.S., the Middle East, and North Africa. The company\u2019s extensive operations in the Permian and DJ basins and offshore Gulf of Mexico, coupled with potential regulatory rollbacks, could enhance its production capabilities.<\/span><\/p>\n

Over the past six months, shares of OXY have surged more than 3% and approximately 46% over the past year. Moreover, the stock has already shown positive movement following the presidential debate, reflecting investor optimism.<\/span><\/p>\n

Last month, OXY and BHE Renewables, a wholly-owned subsidiary of Berkshire Hathaway Energy,<\/span> formed a joint venture<\/span><\/a> for the demonstration and deployment of TerraLithium\u2019s Direct Lithium Extraction (DLE) and associated technologies to extract and commercially produce high-purity lithium compounds from geothermal brine.<\/span><\/p>\n

By utilizing Occidental\u2019s expertise in managing and processing brine within its oil & gas and chemicals businesses, combined with BHE Renewables\u2019 extensive knowledge in geothermal operations, OXY is exceptionally equipped to advance a more sustainable method of lithium production.<\/span><\/p>\n

During the<\/span> first quarter<\/span><\/a> that ended March 31, 2024, OXY posted an adjusted net income attributable to common stockholders of $604 million, or $0.63 per share. Notably, midstream and marketing surpassed guidance for pre-tax income by nearly $100 million. Also, OxyChem exceeded guidance with a pre-tax income of $260 million.<\/span><\/p>\n

In addition, Occidental\u2019s total production was $1,172 Mboed near the mid-point of its guidance. Solid operational performance drove cash flow from operations of $2 billion and cash flow from operations before working capital of $2.3 billion.<\/span><\/p>\n

\u201cOperational excellence is fundamental to everything we do at Occidental, and our teams delivered at a high level across all segments during the first quarter of 2024,\u201d stated OXY\u2019s President and Chief Executive Officer Vicki Hollub. \u201cWe are executing in all areas of our diversified portfolio and positioned for free cash flow growth.\u201d<\/span><\/p>\n

Analysts expect OXY\u2019s revenue and EPS for the second quarter (ended June 2024) to increase 3.5% and 26.4% year-over-year to $6.97 billion and $0.82, respectively. Also, the company has topped the consensus EPS estimates in three of the trailing four quarters.<\/span><\/p>\n

Targa Resources Corp. (TRGP)<\/b><\/p>\n

With a $29.62 billion market cap,<\/span> Targa Resources Corp. (TRGP)<\/span><\/a> is a prominent provider of midstream services. The company primarily engages in the gathering, compressing, treating, processing, transporting, and selling of natural gas; transporting, storing, fractionating, treating, and purchasing and selling natural gas liquids (NGLs) and NGL products, like services to LPG exporters; and gathering, terminaling, and purchasing and selling crude oil.<\/span><\/p>\n

TRGP, with its focus on natural gas and NGLs, stands to benefit from the Trump administration\u2019s favoring fossil fuels. TRGP\u2019s stock has soared more than 14% over the past month and around 52% over the past six months. Moreover, the stock is up nearly 72% over the past year.<\/span><\/p>\n

Targa recently began operations at its new 120 MBbl\/d Train 9 fractionator in Mont Belvieu, TX. Further, construction continues on Targa\u2019s 275 MMcf\/d Greenwood II plant in Permian Midland and its 230 MMcf\/d Roadrunner II and 275 MMcf\/d Bull Moose plants in Permian Delaware. In the Logistics and Transportation (L&T) segment, construction continues on Targa\u2019s 120 MBbl\/d Train 10 fractionator in Mont Belvieu, its Daytona NGL Pipeline.<\/span><\/p>\n

In May, TRGP, to increase production and meet the rising infrastructure needs of customers, announced the construction of a new 275 MMcf\/d cryogenic natural gas processing plant in Permian Midland (Pembrook II plant) and the construction of a new 150 MBbl\/d fractionator in Mont Belvieu (Train 11).<\/span><\/p>\n

Moreover, in April, Targa Resources\u2019 Board of Directors<\/span> declared an increase to its quarterly cash dividend<\/span><\/a> to $0.75 per share, or $3 per share annually, for the first quarter of 2024. This dividend represents a 50% rise from the dividend declared in the first quarter of 2023. The dividend increase indicates the company\u2019s solid financial health and confidence in its continued growth.<\/span><\/p>\n

In the<\/span> first quarter that ended March 31, 2024<\/span><\/a>, TRGP\u2019s revenues increased 1% year-over-year to $4.56 billion. Its adjusted operating margin grew 3% from the prior year\u2019s quarter to $622.10 million. Its NGL pipeline transportation volumes were $717.80 million, up 34% year-over-year.<\/span><\/p>\n

Additionally, the company\u2019s adjusted EBITDA rose 2.7% from the year-ago value to $966.20 million. Its adjusted cash flow from operations was $738.40 million for the quarter.<\/span><\/p>\n

Street expects TRGP\u2019s revenue for the fiscal year (ending December 2024) to increase 22.9% year-over-year to $19.74 billion. The consensus EPS estimate of $5.36 for the current year indicates an improvement of 46.4% year-over-year.<\/span><\/p>\n

Bottom Line<\/b><\/p>\n

The recent debate between President Joe Biden and former President Donald Trump has underscored the potential for significant market shifts based on political outcomes, particularly within the energy sector. With Trump\u2019s pro-oil policies gaining renewed attention, companies like Phillips 66, Occidental Petroleum, and Targa Resources are well-positioned to capitalize on a supportive regulatory environment and expansion of drilling activities.<\/span><\/p>\n

As the election approaches, the energy sector\u2019s trajectory will likely remain closely tied to political developments. Investors should remain vigilant and consider the implications of potential policy changes on their portfolios. The solid financial performance and strategic initiatives of PSX, OXY, and TRGP, combined with the potential regulatory shifts under the Trump administration, could drive growth and deliver significant shareholder value in the upcoming years.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The recent presidential debate between President Joe Biden and former President Donald Trump has stirred significant movements in the equity markets, especially within the energy sector. Biden\u2019s shaky performance drove sentiment around Trump\u2019s odds of securing a second term in the White House, propelling stocks of private prisons, credit card companies, and health insurance firms. […]<\/p>\n","protected":false},"author":41,"featured_media":59071,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[34145,34434,34436,34430,34065,34144,34432,34438,31766,34437,34435,34440,34433,34439,34431,34254],"class_list":["post-59515","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-34145","tag-agreed-to-acquire-pinnacle-midland-parent-llc","tag-baker-hughes-co-bkr","tag-declared-an-increase-to-its-quarterly-cash-dividend","tag-first-quarter","tag-first-quarter-that-ended-march-31","tag-formed-a-joint-venture","tag-he-would-restart-oil-drilling","tag-occidental-petroleum-corporation-oxy","tag-offered-to-roll-back-environmental-regulations","tag-phillips-66-psx","tag-recent-presidential-debate","tag-representing-a-rise-of-10","tag-shaky-performance","tag-targa-resources-corp-trgp","tag-valero-energy-corporation-vlo"],"yoast_head":"\nOil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector - INO.com Trader's Blog<\/title>\n<meta name=\"description\" content=\"Donald Trump\u2019s administration has persistently promoted the expansion of oil drilling activities and the rollback of environmental regulations. After the recent presidential debate, let\u2019s examine the surge in oil stocks Phillips 66 (PSX), Occidental Petroleum (OXY), and Targa Resources (TRGP) and how these stocks could benefit from pro-oil policies. Read on...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector - INO.com Trader's Blog\" \/>\n<meta property=\"og:description\" content=\"Donald Trump\u2019s administration has persistently promoted the expansion of oil drilling activities and the rollback of environmental regulations. After the recent presidential debate, let\u2019s examine the surge in oil stocks Phillips 66 (PSX), Occidental Petroleum (OXY), and Targa Resources (TRGP) and how these stocks could benefit from pro-oil policies. Read on...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\" \/>\n<meta property=\"og:site_name\" content=\"INO.com Trader's Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inocom\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-04T10:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-19T13:03:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"The INO.com Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"The INO.com Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\"},\"author\":{\"name\":\"The INO.com Team\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\"},\"headline\":\"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector\",\"datePublished\":\"2024-07-04T10:00:48+00:00\",\"dateModified\":\"2024-08-19T13:03:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\"},\"wordCount\":1562,\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png\",\"keywords\":[\"2024\",\"agreed to acquire Pinnacle Midland Parent LLC\",\"Baker Hughes Co. (BKR)\",\"declared an increase to its quarterly cash dividend\",\"first quarter\",\"first quarter that ended March 31\",\"formed a joint venture\",\"he would restart oil drilling\",\"Occidental Petroleum Corporation (OXY)\",\"offered to roll back environmental regulations\",\"Phillips 66 (PSX)\",\"recent presidential debate\",\"representing a rise of 10%\",\"shaky performance\",\"Targa Resources Corp. (TRGP)\",\"Valero Energy Corporation (VLO)\"],\"articleSection\":[\"General\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\",\"url\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\",\"name\":\"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector - INO.com Trader's Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png\",\"datePublished\":\"2024-07-04T10:00:48+00:00\",\"dateModified\":\"2024-08-19T13:03:36+00:00\",\"description\":\"Donald Trump\u2019s administration has persistently promoted the expansion of oil drilling activities and the rollback of environmental regulations. After the recent presidential debate, let\u2019s examine the surge in oil stocks Phillips 66 (PSX), Occidental Petroleum (OXY), and Targa Resources (TRGP) and how these stocks could benefit from pro-oil policies. Read on...\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage\",\"url\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png\",\"contentUrl\":\"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png\",\"width\":1200,\"height\":630},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ino.com\/blog\/#website\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"name\":\"INO.com Trader's Blog\",\"description\":\"Expert Charts, Trading Tips and Technical Analysis from INO.com\",\"publisher\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ino.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.ino.com\/blog\/#organization\",\"name\":\"INO.com Trader's Blog\",\"url\":\"https:\/\/www.ino.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"contentUrl\":\"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg\",\"width\":400,\"height\":472,\"caption\":\"INO.com Trader's Blog\"},\"image\":{\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/inocom\/\",\"https:\/\/www.linkedin.com\/company-beta\/1056449\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280\",\"name\":\"The INO.com Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg\",\"caption\":\"The INO.com Team\"},\"url\":\"https:\/\/wwwtest.ino.com\/blog\/author\/the-ino-com-team\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector - INO.com Trader's Blog","description":"Donald Trump\u2019s administration has persistently promoted the expansion of oil drilling activities and the rollback of environmental regulations. After the recent presidential debate, let\u2019s examine the surge in oil stocks Phillips 66 (PSX), Occidental Petroleum (OXY), and Targa Resources (TRGP) and how these stocks could benefit from pro-oil policies. Read on...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/","og_locale":"en_US","og_type":"article","og_title":"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector - INO.com Trader's Blog","og_description":"Donald Trump\u2019s administration has persistently promoted the expansion of oil drilling activities and the rollback of environmental regulations. After the recent presidential debate, let\u2019s examine the surge in oil stocks Phillips 66 (PSX), Occidental Petroleum (OXY), and Targa Resources (TRGP) and how these stocks could benefit from pro-oil policies. Read on...","og_url":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/","og_site_name":"INO.com Trader's Blog","article_publisher":"https:\/\/www.facebook.com\/inocom\/","article_published_time":"2024-07-04T10:00:48+00:00","article_modified_time":"2024-08-19T13:03:36+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png","type":"image\/png"}],"author":"The INO.com Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"The INO.com Team","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#article","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/"},"author":{"name":"The INO.com Team","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280"},"headline":"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector","datePublished":"2024-07-04T10:00:48+00:00","dateModified":"2024-08-19T13:03:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/"},"wordCount":1562,"publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"image":{"@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage"},"thumbnailUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png","keywords":["2024","agreed to acquire Pinnacle Midland Parent LLC","Baker Hughes Co. (BKR)","declared an increase to its quarterly cash dividend","first quarter","first quarter that ended March 31","formed a joint venture","he would restart oil drilling","Occidental Petroleum Corporation (OXY)","offered to roll back environmental regulations","Phillips 66 (PSX)","recent presidential debate","representing a rise of 10%","shaky performance","Targa Resources Corp. (TRGP)","Valero Energy Corporation (VLO)"],"articleSection":["General"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/","url":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/","name":"Oil Stocks on the Rise: Pro-Oil Stance from Trump Boosts Sector - INO.com Trader's Blog","isPartOf":{"@id":"https:\/\/www.ino.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage"},"image":{"@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage"},"thumbnailUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png","datePublished":"2024-07-04T10:00:48+00:00","dateModified":"2024-08-19T13:03:36+00:00","description":"Donald Trump\u2019s administration has persistently promoted the expansion of oil drilling activities and the rollback of environmental regulations. After the recent presidential debate, let\u2019s examine the surge in oil stocks Phillips 66 (PSX), Occidental Petroleum (OXY), and Targa Resources (TRGP) and how these stocks could benefit from pro-oil policies. Read on...","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/2024\/07\/oil-stocks-on-the-rise-pro-oil-stance-from-trump-boosts-sector\/#primaryimage","url":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png","contentUrl":"https:\/\/wwwtest.ino.com\/blog\/wp-content\/uploads\/2023\/11\/Untitled-design-2.png","width":1200,"height":630},{"@type":"WebSite","@id":"https:\/\/www.ino.com\/blog\/#website","url":"https:\/\/www.ino.com\/blog\/","name":"INO.com Trader's Blog","description":"Expert Charts, Trading Tips and Technical Analysis from INO.com","publisher":{"@id":"https:\/\/www.ino.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ino.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.ino.com\/blog\/#organization","name":"INO.com Trader's Blog","url":"https:\/\/www.ino.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","contentUrl":"https:\/\/www.ino.com\/blog\/wp-content\/uploads\/2018\/12\/inologo-400.jpg","width":400,"height":472,"caption":"INO.com Trader's Blog"},"image":{"@id":"https:\/\/www.ino.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/inocom\/","https:\/\/www.linkedin.com\/company-beta\/1056449\/"]},{"@type":"Person","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/d86a8cce826b7bd105200d88bb28a280","name":"The INO.com Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ino.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/cb06ce065c1db526fc31f4d08d898a30?s=96&d=identicon&r=pg","caption":"The INO.com Team"},"url":"https:\/\/wwwtest.ino.com\/blog\/author\/the-ino-com-team\/"}]}},"_links":{"self":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/59515"}],"collection":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/comments?post=59515"}],"version-history":[{"count":0,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/posts\/59515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media\/59071"}],"wp:attachment":[{"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/media?parent=59515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/categories?post=59515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wwwtest.ino.com\/blog\/wp-json\/wp\/v2\/tags?post=59515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}