It's looking like a kind of good news, bad news day for investors in oil stocks on Monday.

On the good news side of the board, two big Wall Street banks -- Truist and Piper Sandler -- just raised their price targets on three of the nation's biggest oil companies: ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), and (NYSE: COP). At the same time, however, there's bad news on oil demand coming out of Saudi Arabia -- and that seems to be overwhelming the good news, driving down oil prices and oil stock prices, too.

As of 11:15 a.m. ET, ExxonMobil stock was down 2.8% from Friday's close, ConocoPhillips shares were off 2.6%, and Chevron had shed 1.7%.

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Source Fool.com