So finally, American oil giants ExxonMobil and Chevron reported…

· Apr 28

So finally, American oil giants ExxonMobil and Chevron reported another quarter of strong earnings on Friday!

Strong refining results offset the effect of lower oil prices in the first quarter compared to a year ago, lifted profits and allowed ExxonMobil to return $8.1 billion to shareholders and Chevron $6.6 billion in dividends and share buybacks.

Results in the 2022 period were lifted by a surge in oil prices following Russia's invasion of Ukraine. However, some feared the results could be worse as oil prices traded at around $70 a barrel for most of the quarter.

Do you have companies in the energy sector in your portfolio?

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Bill Combs @billcombs Apr 28

Those results look really nice. Unfortunately, I don't have any stocks from this sector yet but I was thinking of buying $CVX.

Jason Bellier @neostonks Apr 28

Exxon Mobil - the oil giant reported record first-quarter earnings. Exxon Mobil's adjusted earnings per share came in at $2.83, beating analysts' estimates of $2.59. It reported revenues of USD 86.56 billion, which also beat expectations of USD 85.41 billion.

Chevron - The oil giant's adjusted earnings per share were $3.55 versus $3.41 expected by analysts polled by Refinitiv. Revenue also beat, but net income at Chevron's oil and gas division fell 25% due to the drop in oil prices.

European stocks open mixed as French fiscal fears linger