I took a look at $Chevron (CVX.US)$ Q2 earnings. Q2 net profit reached $11.622 billion,a whopping 277% increase year-over-year,and $Exxon Mobil (XOM.US)$ with Q2 revenue surging 71% year-over-year to $115.681 billion, and net profit growing nearly threefold to $17.85 billion. Such impressive results are unimaginable for growth stocks this year. Oil and gas stocks have become the strongest performing sector in the US stock market this year, among which$Occidental Petroleum(OXY.US)$one company led the S&P 500 index components with a 117% increase, while two other energy giants$Exxon Mobil(XOM.US)$and$Chevron(CVX.US)$rose approximately 53% and 29%, respectively, presenting a stark contrast to the S&P 500 index’s 15% decline during the same period.
Indeed, Buffett is still the Oracle of Omaha — investing in Occidental Petroleum and increasing his stake in Chevron has paid off handsomely!
TodayChevron VS Exxon MobilBoth released earnings reports at the same time. Which one has more potential? Why did Buffett continuously increase his position in Chevron over the last three quarters instead of Exxon Mobil?
In terms of business, Exxon Mobil adopts an integrated upstream and downstream development strategy, encompassing oil exploration and development, refining and petrochemicals, and wholesale and retail product sales. The company's main operations can be divided into three segments: upstream, downstream, and chemicals.
The upstream segment mainly includes crude oil and natural gas; the downstream segment mainly includes gasoline, naphtha, diesel, kerosene, aviation fuel,...