Big Oil & Gas Names Chevron, Hess, Exxon Mobil Shares Up Today: What's Going On?
Benzinga
Bernstein analyst Bob Brackett revised the rating on several oil majors following their earnings release.
The analyst says the oil market is approaching late-cycle and recommends defensive U.S. integrated oil companies and expects diversified cash flow streams outside core oil & gas production to drive these companies to survive a downturn better than the pure E&P companies.
Brackett reiterated the rating on Exxon Mobil Corp (NYSE: XOM) at Outperform and lowered the price target to $139.00 from ...
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