Chevron (CVX)

Chevron Reinstated as a “Buy” at Bof A/Merrill

Dividend.com is reporting that Chevron saw its coverage reinstated on Friday with a “Buy” rating by analysts at Bank of America/Merrill Lynch. The analyst also set a $105 price target on CVX shares, which had closed at $76.78 on Thursday. The analyst said that a group of new projects over the past 18 months will likely spur growth and set the company apart from its peers in the oil industry.

Dec 18 · 1:47:00 PM · Source: Dividend.com
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by Rich Pike

Exxon Mobil (XOM)

Exxon to Buy XTO for $31 Billion

Exxon Mobil agreed to buy XTO Energy Inc. for $31 billion. Owners of XTO will get 0.7098 share of Exxon for each of their shares, the companies said today in a statement. The transaction values XTO at $51.69 a share, 25 percent higher than its last closing price.
XTO is the largest producer of U.S. natural gas. This is a bet by Exxon Mobil that U.S. emissions restrictions will spur increased demand for natural gas.

Dec 14 · 1:30:00 PM · Source: Bloomberg.com
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by Rich Pike

Chevron (CVX)

Chevron Inks $90 Billion Deal with Tokyo Electric

Tokyo Electric Power Company has signed a deal to buy 4.1 million tons of liquefied natural gas per year from Chevron Corp’s Wheatstone project off Western Australia for two decades.
Under the $90 billion deal, Tokyo Electric will also take a 15% stake in Chevron’s holdings in the project and an 11.25% stake in Wheatstone’s onshore processing facilities.

Dec 7 · 2:47:00 PM · Source: Business Spectator
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by Michael Oliveto

Devon Energy (DVN)

Devon Net Income Falls 81%, Beats Target

Devon Energy reported Q3 earnings of $1.13 per share on net income of $499 million versus $5.93 per share on net income of $2.6 billion in the year ago period.
"Year to date, Devon increased oil and gas production eight percent compared with 2008," commented President John Richels. "The performance of the company's oil and gas properties has continued to exceed our expectations throughout 2009."

Nov 4 · 3:59:00 PM · Source: Company News Release
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by Michael Oliveto

XTO Energy (XTO)

XTO Energy Q3 Profit Falls 4%

Oil company XTO Energy said third quarter earnings for the three months ended Sept. 30 dropped to $500 million, or 86 cents per share, from $521 million, or 94 cents per share, during the same period last year.

Nov 4 · 1:03:00 PM · Source: Company News Release
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by Larry Etter

Arch Coal Inc. (ACI)

Arch Coal said Friday that it had net earnings of $25.2 million, or 16 cents per share, compared with year-earlier earnings of $97.8 million, or 68 cents per share. The St. Louis-based coal company said revenue fell to $615 million from $769.5 million.
The down numbers still beat analyst estimates.

Oct 30 · 9:06:00 AM · Source: Company News Release
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by Larry Etter

Chevron (CVX)

Chevon Q3 Earnings Beat Estimates by Large Margin

Chevron Corp. said Friday its third-quarter earnings fell to $3.8 billion, or $1.92 a share, from $7.9 billion, or $3.85 a share, in the year-ago period. Total revenues fell to $46.6 billion from $78.9 billion.
Earnings topped Street views by big margin

Oct 30 · 8:53:00 AM · Source: Company News Release
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by Larry Etter

Exxon Mobil (XOM)

Exxon Earnings Fal 68%

ExxonMobil, the world's largest publicly-traded oil company, reported a profit of $4.73 billion, or 98 cents a share, down from $14.83 billion, or $2.85 a share, a year earlier. The prior year included a net $1.45 billion in gains. The company's revenue fell 40.3% to $82.3 billion.
Analysts had projected earnings of $1.03 a share on revenue of $85.16 billion.

Oct 29 · 10:51:00 AM · Source: Company News Release
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by Larry Etter