Major Profit Gains Brought to You By Oil Companies
Profit gains are always a positive sign to investors. There are a few oil companies that are currently seeing major profit gains. Some you may expect, and other maybe not. Stock Croc gives some details about the companies experiencing these great profits.
Chevron is currently trading around $102 in a very volatile market. The stock has been trading sideways all year and will probably continue. The fourth quarter report listed a decline in revenue for the quarter but a 41% gain in earnings for the full year. Revenue was up about 15% for the full year on higher prices for crude oil. A combination of favorable commodity pricing and increases in refining margins helped this stock as well. This is a trend that should be seen across the industry and into 2012.
Exxon-Mobil produced a 6% rise in fourth quarter earnings per share from the same period in 2010 and a 35% gain on a year over year basis. Exxon’s gain, like Chevron and Conoco, came on lower production and improvements on downstream pricing and margins. The company’s full year production was up by 1% over 2011 and is expected to continue into 2012.
Watch this big oil stocks in the long term. They could see increasing profits to come. Big oil can bring profits to you, not just themselves!
Quotes taken from report by Stock Croc, Read the entire article here.
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