Exxon Beats Estimates on Higher Permian Basin Oil Production
- Oil supermajor expands dividends for 42nd consecutive year
- Exxon stock has outperformed US, European rivals this year
This article is for subscribers only.
Exxon Mobil Corp. beat analysts’ estimates as higher oil production from the US Permian Basin helped cushion a drop in crude prices and tightening refining margins.
Exxon earned $1.92 a share in the third quarter, more than the $1.87 median estimate among analysts surveyed by Bloomberg. Chevron Corp. and Shell Plc also turned in better-than-expected performances.