Why Investors Liked Exxon's Results But Not Chevron's
CVXChevron(CVX) Investopedia·2024-08-03 05:41

KEY TAKEAWAYSExxonMobil's daily production reached the highest level in at least a quarter-century, driving second-quarter earnings that surpassed expectations.Weak non-U.S. and refinery results left Chevron's second-quarter profit short of consensus projections.Chevron announced key leadership changes and plans to relocate to Houston, Texas from California. ExxonMobil (XOM) fared much better than rival Chevron (CVX) despite record-high production in Texas' oil-and-gas-rich Permian Basin for both, as the U. ...