E Weekly Energy Roundup: Oil And Gas Companies, June 25 To 29

Chevron (CVX

Chevron also delivered a gain to investors last week although its performance was slightly more erratic than ExxonMobil's. This is because it declined on Thursday, June 28 instead of delivering a gain as its peer company did. The stock opened the week at $124.43 per share and closed the week at $126.43 per share. This gives the stock a gain of 1.61% over the week. 

Source: Fidelity Investments 

Chevron’s stock price action was quite volatile over the past two weeks, in some contrast to ExxonMobil's. Immediately after opening on June 18, the stock price declined and continued this decline for most of the remainder of the week. It then showed some volatility mid-period before beginning to climb again on June 25. On Monday, June 18, Chevron’s stock opened at $124.35 per share. This gives the stock a total gain of 1.67% over the period, substantially worse than what ExxonMobil delivered. 

Source: Fidelity Investments 

Chevron also benefited from the dismissal of the climate change lawsuit as it was one of the parties that was mentioned in the complaint. This should at least somewhat protect the company from having to pay out the massive sums that losing such a case would entail. In addition, the company announced that its capital expenditures related to a deepwater gas project would be approximately $6 billion less than originally planned without having to decrease planned production. It is always a good thing when a company saves money as that frees up the capital for other growth projects, so investors should be happy about this development.

BP (BP

BP's stock price graph looks remarkably similar to ExxonMobil's although its gain on Thursday, June 28 was a little more pronounced. On June 25, 2017, BP shares opened at $44.92 and rose to $45.66 by the end of the week. This gives the stock a weekly gain of 1.65%.  

Source: Fidelity Investments 

BP shares were somewhat volatile over the two-week period, although they did deliver an overall gain. This would thus be appealing for both traders seeking to profit on the volatility as well as buy-and-hold investors looking for long-term gains. Interestingly, the stock did not reach its high point for the period on June 28 as both ExxonMobil and Chevron did but rather hit this level on June 22. On June 18, BP shares opened at $45.03. The stock thus delivered a two-week gain of 1.40%, worse than both of its already discussed peers. 

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Disclosure: I am long XOM and CVX via ETF holdings but have no direct long positions in any stocks mentioned.

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