Chevron Is Still Stronger Than Exxon
To say that 2020 has been bad for U.S. energy giants Chevron (NYSE: CVX) and ExxonMobil (NYSE: XOM) would be a vast understatement. With countries around the world effectively shutting their economies to slow the spread of the coronavirus, demand for oil fell off a cliff, and took energy stocks along with it. But there was an interesting and important change that accompanied this terrible industry downturn: Chevron is now in a notably stronger financial position than Exxon. Here's a look at what's going on.
A quick review of the stock prices of Chevron and Exxon is all it takes to see the damage that has been done in the energy sector, with their shares off by around 27% and 45%, respectively, so far in 2020. There's a great deal of information contained in those numbers, however, and Chevron's stock is clearly performing much better than Exxon's. There's a very good reason for that.
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Source Fool.com
