Oil stocks: what’s happening today with XOM, VALE, MRO and OXY?
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Oil stocks move on Tuesday and we dive into the latest news that has stocks rising today!
The biggest news behind rising oil inventories today comes from Exxon Mobil (NYSE:XOM). The oil giant released a strong earnings report for the fourth quarter of 2021. That saw earnings per share of $2.05 squash Wall Street’s estimate of $1.93 per share.
Another little news to note is Valley (NYSE:VALLEY) is preparing to release its earnings report for the fourth quarter of 2021. The company plans to release its production and sales report next week with more details to follow later this month.
Today’s earnings news is likely what is pushing oil stocks higher. This EPS beat against XOM is a good sign for other companies and could have other oil stocks gaining in symphony with XOM stocks.
Let’s see how today’s news affects oil stocks below!
Oil inventories up on Tuesday
- Exxon Mobil starts us off with XOM shares up 5.3% on Tuesday afternoon.
- Vale shares are next in line, with the stock up 4.8% at the time of this writing.
- Marathon oil (NYSE:MRO) shares are also taking off today with shares of the company up 4.6% this afternoon.
- western oil (NYSE:OXY) stocks end this list up 3.3% at the time of writing.
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As of the date of publication, William White had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.
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