Energy Biz Replay: Chevron’s Big Roll, United Imitates Delta
Chevron Corporation (NYSE:CVX) shares are on a roll, thanks to recent bullish analyst comments, and touched an all-time high on Friday. Barclays believe that the firm “ranks the best among the super majors group for the next several months.” Not to be outdone, Oppenheimer views Chevron as the most leveraged integrated oil firm to oil prices, and forecasts that the prices will reach a record level on average for 2012.
Shares of ZaZa Energy Corporation (ZAZA) slide after hours following its filing to sell approximately 34.6 million common shares for certain stockholders. However, the company will not receive any of the proceeds.
It appears that United Continental Holdings, Inc. (NYSE:UAL) has been looking at a similar tack to that of Delta Air Lines, Inc. (NYSE:DAL) buying a Philadelphia-area refinery earlier in the year, ostensibly to reduce its fuel costs. United is said to have been checking out a Texas refinery, but says that a purchase is not included in its current plans.
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