Equinor (EQNR) Resumes Oil Production in North Sea Oilfield
Zacks Investment Research | Nov 15, 2021 10:29PM ET
Equinor ASA (NYSE:EQNR) .
San Ramon, CA-based Chevron is one of the largest publicly traded oil and gas companies in the world, with operations spanning almost every corner of the globe. CVX participates in every aspect related to energy, from oil production to refining and marketing. As of 2020 end, Chevron proved reserves of 11.1 billion barrels of oil equivalent.
In the past three months, shares of Chevron have gained 17.6% compared with the industry's growth of 16.3%. In the past 60 days, the Zacks Consensus Estimate for CVX's 2021 earnings has been raised 23.4%. In third-quarter 2021, CVX recorded $8.6 billion in cash flow from operations, more than doubling from $3.5 billion a year ago. The soaring cash flow could be attributed to strong price realizations in the upstream business.
Phillips 66 is the leading player in each of its operations like refining, chemicals and midstream in terms of size, efficiency and strengths. PSX's operations include processing, transportation, storing, and marketing fuels and products worldwide. Phillips 66 is currently valued at $33.9 billion and offers a quarterly dividend of 92 cents.
PSX is projected to see a year-over-year earnings surge of 76.5% in 2021. It has witnessed three upward revisions in the past 30 days. Phillips 66 beat the Zacks Consensus Estimate thrice in the last four quarters and missed once, ending with an earnings surprise of 19.66%, on average. As of Sep 30, 2021, the partnership recorded cash and cash equivalents of $71 million, up from the second quarter’s $2 million.
Based in Houston, TX, ConocoPhillips is one of the world's largest independent oil and gas producers. COP has a strong presence across conventional and unconventional plays in 16 countries. Notably, ConocoPhillips ended 2020 with proved reserves of 4.5 billion barrels of oil equivalent (BOE) and a reserve replacement ratio of 86%. By 2020, the upstream energy player produced 1,127 thousand BOE per day, comprising more than 50.4% oil.
In the past three months, shares of ConocoPhillips have gained 34.2% compared with the industry's growth of 31.5%. In the past 60 days, the Zacks Consensus Estimate for COP's 2021 earnings has been raised by 23.8%. COP is currently valued at $95.9 billion and offers a quarterly dividend of 46 cents.
Zacks' Top Picks to Cash in on Artificial Intelligence
In 2021, this world-changing technology is projected to generate $327.5 billion in revenue. Now Shark Tank star and billionaire investor Mark Cuban says AI will create "the world's first trillionaires." Zacks' urgent special report reveals 3 AI picks investors need to know about today.
See 3 Artificial Intelligence Stocks With Extreme Upside Potential>>
Get The News You Want
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Zacks Investment Research
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.