FTXN Volume Surges as Chevron, Exxon Analyst Calls Stir

First Trust Nasdaq Oil & Gas ETF (FTXN) has seen unusual trading volume, which is 17× higher than its average daily volume.

Within FTXN’s portfolio, Chevron and Exxon Mobil are in focus after fresh analyst reports: Chevron, a top holding, is backed by a Strong Buy consensus and a new Buy rating from DBS with a $222 target, implying double‑digit upside, while Exxon Mobil carries a Moderate Buy consensus after Goldman Sachs reiterated a Hold with a $157 target and The Street projects further upside despite a recent downgrade to Hold by Wolfe Research. Occidental Petroleum, another major component, is seeing mixed sentiment as Evercore ISI reaffirmed a Sell rating even as consensus targets still point to potential upside, and EOG Resources has drawn a series of bullish analyst calls and a record free‑cash‑flow outlook from its upbeat Q1 earnings, though management flagged higher capital spending and operational risks. Venture Global, a sizeable LNG holding, faces pressure as its shares slide on sector‑wide weakness in LNG, debt concerns and insider selling despite a modest price‑target increase from Mizuho, while Marathon Petroleum, Diamondback Energy and Devon Energy all benefited from new or reiterated Buy ratings and higher price targets, reflecting optimism around strong cash generation, raised production guidance and merger upside in the oil and gas space.