Exxon Could Outperform Chevron in 2021, Analyst Predicts
An Exxon Mobil refinery Dean Mouhtaropoulos/Getty Images Exxon Mobil has long been the king of U.S. oil, but this year investors and many analysts have preferred In fact, Chevron’s market cap briefly exceeded Exxon’s in October after starting the year at a considerable disadvantage. Exxon (ticker: XOM) is down 38% this year, while Chevron (CVX) is down 25%. Now one analyst thinks it’s time to switch bets. Wells Fargo’s Roger Read upgraded Exxon to Overweight on Tuesday while downgrading Chevron to Equal Weight. “This is not a criticism of Chevron, but mostly a c...
Source: barrons.com