Targa Resources Corp (TRGP) announced a major infrastructure expansion after securing long-term, fee-based agreements with ExxonMobil (XOM) across the Permian Delaware and Midland basins. The deal significantly bolsters Targa's processing and takeaway capabilities while offering midstream investors enhanced cash-flow visibility.
While most investors chase flashy tech names, a quiet group of blue-chip dividend payers is staging a stunning run in 2026 that even the S&P 500 cannot match. The companies behind these gains may surprise you.
Targa Resources secures a transformative 20-year midstream agreement with ExxonMobil, anchoring long-term growth and volume certainty. TRGP will invest in three new processing plants, a 70-mile pipeline, and potentially five additional plants, extending its aggressive growth trajectory. The XOM partnership delays the free cash flow inflection beyond 2028, but rising base EBITDA and project completions maintain positive FCF trends.
Brent crude traded at $95.40 a barrel in early trading this morning, up from $67.21 a year ago, after the expired US-Iran ceasefire and Strait of Hormuz disruption pushed the oil complex back into crisis mode.
Exxon Mobil (NYSE:XOM | XOM Price Prediction) and Chevron (NYSE:CVX) both reported second quarter results on July 31, 2026, and the two supermajors are steering through the same tight oil market with very different playbooks.
A mechanical yield screen is quietly outpacing the S&P 500 this year by excluding most of the AI complex before a single share is purchased, and the valuation gap it creates raises a question worth answering before the rotation reverses.