NEW YORK, NY / ACCESSWIRE / July 31, 2017 / While shares of Chevron shined on Friday after the oil giant posted second quarter results that easily beat the Street, shares of Exxon saw a drop. Exxon may have posted revenue higher than expected but missed on earnings which dragged shares lower.

RDI Initiates Coverage on:

Exxon Mobil Corporation
https://ub.rdinvesting.com/news/?ticker=XOM

Chevron Corporation
https://ub.rdinvesting.com/news/?ticker=CVX

Exxon Mobil Corporation shares were struggling this past Friday and closed in the red down 1.52%. The stock even hit a new 52-week low of $78.27 after posting a rare earnings miss. The company reported a profit of $3.35 billion. A profit of 78 cents per share was below the 83 cents that analysts surveyed by Zacks Investment Research had called for. Revenue for the period was $62.88 billion which was ahead of the $61.16 billion that the Street was waiting for. "These solid results across our businesses were driven by higher commodity prices and a continued focus on operations and business fundamentals," Darren Woods, Exxon's chairman, and CEO, said in a statement. "Our job is to grow long-term value by investing in our integrated portfolio of opportunities that succeed regardless of market conditions." Since the start of the year, shares of Exxon have fallen 11.81%.

Access RDI's Exxon Mobil Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=XOM

Chevron Corporation shares closed up 1.89% this past Friday on nearly 8 million shares traded after beating second quarter forecasts. The California-based company posted a profit of 77 cents on a per share basis and earnings, adjusted for one-time gains and costs at 91 cents a share. This was ahead of the 89 cents per share that analysts polled by Zacks Investment Research had been waiting for. Revenue at $34.48 billion was also ahead of the $31.18 billion that was expected. The oil company has seen its shares fall almost 8% YTD. The company easily outshined competitor Exxon. Analyst Brian Youngberg at Edward Jones commented, "Exxon continues to really struggle on getting its output up. Chevron is going from a cash spender to a cash generator, even without commodity prices improving."

Access RDI's Chevron Corporation Research Report at:
https://ub.rdinvesting.com/news/?ticker=CVX

Our Actionable Research on Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com