05.08.2014 - Energy ETFs in Focus on Big Oil Q2 Beat, Lower Production
Big U.S. oil companies like Exxon Mobil (XOM), Chevron (CVX) and ConocoPhillips (COP) reported robust second-quarter results late last week. All the three firms topped our revenue and earnings estimates on higher energy prices, but XOM and CVX are still struggling with shrinking production volumes amid the boom in shale oil and gas business. On the other hand, COP witnessed an increase in production. The largest U.S. oil company, Exxon Mobil , reported earnings per share of $2.05 that strongly outpaced the Zacks Consensus Estimate of $1.91 and the year-ago earnings of $1.55. Total revenue rose 5% year over year to $111.6 billion, trumping the Zacks Consensus Estimate of $109.1 billion..............................................Full Article: Source
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