Oil, miniatures of oil barrels and U.S. dollar banknote are seen in this illustration taken, June 6, 2023.
The two companies reported somewhat similar results on Friday, with the $420 billion Exxon earning $9.1 billion, and the $279 billion Chevron making $6.5 billion.
With more than $110 billion in acquisitions between the two of them, investors might wonder where they will slot in.
Exxon returned over $8 billion to investors and Chevron $6 billion, and right now that’s not at the expense of their balance sheets.
Over the past decade both stocks have sharply underperformed the S&P 500 Index (.SPX) as they’ve grown their positions dramatically.
Dado Ruvic, Hess, Robert Cyran, Lauren Silva Laughlin, Sharon Lam
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