ExxonMobil Basks In BP's Numbers
Stock: (XOM)(BP)
Nothing could do more for the investors and managment at Exxon that BP's big numbers. Net income at the British oil behemoth rose to $7.27 billion and revenue was up 24% to $72.46 billion.
The Associated Press has estimated that the five largest oil companies in the world will earn a combined $30 billion in the second quarter. And, $75 per barrel oil and $3 gasoline sure help.
Exxon's stock is now at $65.36 just shy of its 52-week high and up 20% over the period. BP's stock trades at $70, between its high/low of $76.85/$63.26.
BP's results can't guarantee that Exxon will do as well. But, it's a pretty safe bet.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies that he writes about.
Nothing could do more for the investors and managment at Exxon that BP's big numbers. Net income at the British oil behemoth rose to $7.27 billion and revenue was up 24% to $72.46 billion.
The Associated Press has estimated that the five largest oil companies in the world will earn a combined $30 billion in the second quarter. And, $75 per barrel oil and $3 gasoline sure help.
Exxon's stock is now at $65.36 just shy of its 52-week high and up 20% over the period. BP's stock trades at $70, between its high/low of $76.85/$63.26.
BP's results can't guarantee that Exxon will do as well. But, it's a pretty safe bet.
Douglas A. McIntyre can be reached at douglasamcintyre@gmail.com. He does not own securities in companies that he writes about.
posted by douglas mcintyre at 7:21 AM
Subscribe
<< Home