• 2 days Iraq Begins To Rebuild Largest Refinery
  • 2 days Canadian Producers Struggle To Find Transport Oil Cargo
  • 2 days Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 3 days China's CNPC Considers Taking Over South Pars Gas Field
  • 3 days BP To Invest $200 Million In Solar
  • 3 days Tesla Opens New Showroom In NYC
  • 3 days Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 3 days Venezuela Sells Oil Refinery Stake To Cuba
  • 3 days Tesla Is “Headed For A Brick Wall”
  • 3 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 3 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 3 days Goldman Bullish On Oil Markets
  • 3 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 4 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 4 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 4 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 4 days Colombia Boosts Oil & Gas Investment
  • 4 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 4 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 4 days Aramco On The Hunt For IPO Global Coordinators
  • 5 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 5 days India Feels the Pinch As Oil Prices Rise
  • 5 days Aramco Announces $40 Billion Investment Program
  • 5 days Top Insurer Axa To Exit Oil Sands
  • 5 days API Reports Huge Crude Draw
  • 5 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 5 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 6 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 6 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 6 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 6 days Exxon To Start Reporting On Climate Change Effect
  • 6 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 6 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 6 days Forties Pipeline Could Remain Shuttered For Weeks
  • 7 days Desjardins Ends Energy Loan Moratorium
  • 7 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 7 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 7 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 9 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 9 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Canadian Oil Prices Plunge To $30

Canadian Oil Prices Plunge To $30

Canadian oil is not selling…

The Noose Tightens: Venezuela Struggles To Ship Oil

The Noose Tightens: Venezuela Struggles To Ship Oil

As production plunges, Venezuela’s PDVSA…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

This Analyst Now Favors Chevron Shares Over Exxon

Oil sands operation

Chevron’s cash at hand, Permian Basin assets and related growth opportunities are leading analysts to think the company is a better bet than Exxon Mobil, according to the investment banking company Jefferies.

In the past, Jefferies analysts have preferred Exxon over Chevron for the purposes of estate planning and portfolio management, but at the close of February, the firm preferred the later instead.

Both American companies are included in the S&P 500 – a benchmark index that has been up around six percent since the beginning of 2017. Still, the effects of the long-term drop in oil prices have prevented the companies from seeing a positive growth rate. The effects of the November 2016 deal between members of the Organization of Petroleum Exporting Countries (OPEC) and other cooperating nations have caused barrel prices to see several consecutive days of growth since the beginning of this year.

Chevron shares’ rate of decline slowed to five percent since the start of 2017, while Exxon was down nine percent.

Neither company has been entirely successful at meeting analyst expectations over the past couple of years.

Last month, Chevron reported earnings of US$0.22 per share for the fourth quarter, compared with a loss of US$0.31 per share for the fourth quarter of 2015, in line with expectations that it would return to profit, but missing the earnings per share estimates by a wide margin. One week before the Q4 results came out, Jefferies Group analyst J. Gammel raised his earnings per share forecast to US$0.65, up from a previous forecast of US$0.58.

Exxon Mobil’s former CEO, Rex Tillerson now serves as Secretary of State in the Trump administration, which signals the increased presence of oil interests in the implementation of American foreign policy, according to the newly-inaugurated president’s critics.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News