Q2 Oil earnings will be "comfortably above consensus"Buy the dip. Strong oil and all companies are benefiting. Stock prices have strong data support
"Chevron and Exxon Mobil should beat earnings estimates for the second quarter and see their shares rise even more, according to Morgan Stanley.
The energy stocks have gained 31% and 56%, respectively, in 2021 as the U.S. economy has reopened and global oil prices have rebounded. West Texas Intermediate crude was above $72 a barrel on Wednesday, up more than 49%.
Morgan Stanley analyst Devin McDermott projected the two oil giants would post second-quarter earnings comfortably above consensus estimates, saying in a note that the results should also push future estimates higher."
Reference : https://www.cnbc.com/2021/06/16/morgan-stanley-chevron-exxon-stock-second-quarter.html