Sector: Energy & Utilities
In the week that ended on November 8, WTI crude oil prices rose 1.9% and closed at $57.24 per barrel. However, oversupply concerns limited the upside.
Chevron's (CVX) and ExxonMobil's (XOM) stocks have reacted differently to the companies' earnings releases on November 1.
In today’s Get Real, we saw Apple Watch's performance and another loss for Boeing. Plus, Google's Fitbit acquisition faces scrutiny from the EU.
Refining stocks like Marathon Petroleum (MPC), Valero Energy (VLO), and The Phillips 66 Company (PSX) have risen sharply in the fourth quarter.
Recession fears have been hovering over the market throughout this year. However, defensives such as utilities are trading at record highs.
This quarter, ExxonMobil (XOM) stock has risen 3.4%, while Chevron (CVX) has risen 2.7%. Let's look at both stocks in further detail.
Analysts reacted positively to Valero Energy's earnings. Raymond James raised its target price on the stock to $106 with an “outperform” rating.