Cryptocurrency news

Exxon Mobil fell Drastically, as well as Chevron Corporation

On Friday, Exxon Mobil Corporation fell drastically. After missing fourth-quarter 2019 EPS expectations by $0.04, it sold off to a nine-year low. During the last years, the company continued downfall, though it tried to attract investors with the promise of a 5.60% forward dividend yields. Including this month, the Dow Jones component missed estimates six times in the past nine quarters.

 

Over the years, the energy giant’s revenues fell 6.6% to $67.17 billion. In the third quarter of 2019, the stock declined by a full 15%. To build cash flows during the most extended period in United States history, it tried to apply for a restrictive program. Analysts expect in the first quarter of 2020 that the revenue will decrease again, due to the coronavirus outbreak.

 

Related Post

During the mid-decade bull market, Exxon Mobil experienced a strong rally. Nevertheless, it stopped in the mid-$80 in 2007. The stock tried unsuccessfully to break out several times until 2007 when it hit an all-time high at $104.76. Afterward, it has been gradually falling.

Chevron Corporation

Last week, Chevron Corporation also reported a 14.2 % revenue decline. Nevertheless, it’s managed to hold above the December 2018 low. On Monday, Cowen also noted about this stock’s decent. The changing political headwinds mostly caused such kind of downfall. They have already dropped the Dow’s two energy plays to the bottom of the list of component performance. Nevertheless, they could affect these stocks’ value for many years in the future, as the political headwinds continue to grow.

 

Activists of the European climate try to make hedge funds to drop 100% of their holdings of traditional energy. Moreover, several Democratic candidates are willing to reduce fossil fuel use by heavily taxing the industry. Especially considering that it will likely grow through the decade, such pressure isn’t good news for these stocks. It seems that the rising seas and the impact of global warming make such radical solutions seem more readily acceptable.

User Review
0 (0 votes)

Recent Posts

  • Technology News

Google Updates Android TVs to Address Gmail Privacy Issue

Google is reportedly developing a solution to prevent individuals from accessing emails of accounts logged…

3 days ago
  • Stock News

Tesla’s Challenging yet Innovative Start to 2024

Quick Overview Tesla's revenue dropped 9% in Q1 2024, hitting $21.30 billion versus the expected…

3 days ago
  • Commodity News

Oil Surges as Israel Airstrikes Overshadow Weak US GDP Data

On Thursday, oil prices jumped as geopolitical fears mounted after Israel hit Rafah, dwarfing the…

3 days ago
  • Stock News

ByteDance Reportedly Prefers to Discontinue TikTok in US

Chinese internet giant ByteDance Ltd. reportedly prefers to shut down its popular video-sharing platform TikTok…

3 days ago
  • Cryptocurrency news

XRP Dynamics: Navigating Legal Battles and Market Volatility

At a Glance XRP saw a significant rally of 6.00% on Monday, bouncing back from…

3 days ago
  • Commodity News

Crude Oil at $83.36; Ups and Downs of Commodity Markets

Quick Overview Crude Oil Prices Rise: U.S. Benchmark crude oil for June delivery climbed $1.46,…

3 days ago

This website uses cookies.