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Why Exxon and Chevron’s Deals Leave Investors Cold

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Underwhelming results and doubts about recent deals weigh on the oil companies’ shares

U.S. oil majors Exxon Mobil and Chevron are good at squeezing hydrocarbons out of the ground. Digging for extra Brownie points from investors has been tougher.

The companies have tried hard to be attractive, first by continuously demonstrating spending discipline and consistently doling out generous shareholder returns. Most recently, both announced mega acquisitions at reasonable prices.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.

 

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