• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days The United States produced more crude oil than any nation, at any time.
  • 8 days e-truck insanity
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 7 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry
Oil Ticks Lower on EIA Inventory Report

Oil Ticks Lower on EIA Inventory Report

Crude oil prices moved lower…

OPEC Expects Solid Global Oil Demand This Summer

OPEC Expects Solid Global Oil Demand This Summer

OPEC expects strong oil in…

The EU Allows Members to Ban Russian LNG as Imports Climb

The EU Allows Members to Ban Russian LNG as Imports Climb

The European Parliament approved rules…

Editorial Dept

Editorial Dept

More Info

Premium Content

A Surprising Oil Major Pick

rig

I’m sure it drives my editors here mad, but I usually write my piece here on Friday morning, just before it goes out to you, the reader. To be honest, that is in part due to the usual tendency of a writer towards procrastination, but it also enables what I write to be up to date and relevant when you read it. This morning, my late delivery is paying dividends as it enables me to give a “hot take” on two big oil earnings reports.

Both Chevron (CVX) and Exxon Mobil (XOM) released Q3 results this morning. When looked at on a historical basis, neither were great, as both showed significant declines from the same quarter last year. Still, when it comes to earnings, everything is relative, and XOM is trading higher this morning after beating expectations, while CVX’s miss has resulted in a drop in the stock.

However, even though XOM beat and CVX missed, I still prefer CVX as an investment right now.

When analyzing markets and individual stocks, I take what is known as a “top down” approach, which is to say that I start with the big picture of global economics and growth, then drill down by country, sector, industry and finally individual stocks. In this case, it is the “big picture” view that causes me to favor CVX over XOM.

What has become clear over the last year or so is that while global growth is slowing, the U.S. economy is holding up well. That is why, despite the fears that are holding…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News