Shares of Exxon Mobil (XOM) and Chevron (CVX) are trading lower on Friday as both companies revealed a dip in first quarter revenue compared to the same...
) are trading lower on Friday as both companies revealed a dip in first quarter revenue compared to the same period last year. However, both companies beat Wall Street revenue expectations for the quarter. While some of the forecasts for these companies are mixed, upcoming projects have the potential to turn things around.
Dingmann explains that growth will be accelerated by two upcoming projects in particular:"They're going to have big growth...in Guyana and the Permian . That's going to keep the remainder of their overall portfolio flat. Guyana is the one worth pointing out. If you look at the projects coming on through 2027 on a gross basis, which Exxon has 45% of this, that could do almost 1.2 billion barrels a day. You think that: the US alone is doing about 13 billion barrels.
They bought Nvidia stock before the hype. It's paid for cars, vacations, and a deposit on a dream home.
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