Tag: BP stock
Chevron's (CVX) and ExxonMobil's (XOM) stocks have reacted differently to the companies' earnings releases on November 1.
BP has the highest correlation coefficient of 0.60 with WTI, followed by Shell at 0.57. Meanwhile, ExxonMobil and Chevron have relatively low correlations.
ExxonMobil and Chevron surprised markets with strong third-quarter earnings results on Friday. Their adjusted EPS beat analysts' estimates.
The long-awaited Saudi Aramco IPO is confirmed. Based on estimates, this could be the largest IPO. Also, Aramco could be the biggest listed company.
BP will release its third-quarter earnings results on October 29. In the quarter, integrated energy companies faced severe business conditions.
Leading energy stocks like ExxonMobil (XOM) and Chevron (CVX) are facing bleak business conditions. Oil prices have been weaker in the third quarter.