XOM vs. CVX – Which of These Top Oil Stocks Is Your Best Bet for 2014?

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XOM vs. CVX – Which of These Top Oil Stocks Is Your Best Bet for 2014?

XOM Stock – Exxon Pushes Past Its Issues

ExxonMobilLogo XOM vs. CVX – Which of These Top Oil Stocks Is Your Best Bet for 2014?Over the last few years, Exxon stock hasn’t exactly acted like the oil stocks leader it once was. The old Standard Oil relic struggled with some serious issues, with production at XOM failing to “Keep up with the Joneses.”

But after eight consecutive quarters of year-over-year production drops, XOM stock investors will be happy to know that the oil giant may have gotten the tiger back in its tank. For the latest quarter, Exxon managed to increase its output of oil and natural gas by 1.5% and push output back over the 4 million barrels per day mark.

The key for Exxon was a slate of new projects finally hitting the commercial production stages. From increased natural gas output in Australia to oil from Nigeria and Canada, XOM stock saw some pretty nice gains from these new endeavors.

Even more promising for fans of XOM stock? The gains should continue into 2014.

The New Year should be this oil stock’s first year of production growth since 2011 as XOM starts up some of its most ambitious projects of this decade. These include its massive Kearl oil sands project with Imperial Oil (IMO), deepwater drilling in the Caspian Sea as well as finally tapping its Papua New Guinea natural gas assets. All in all, Exxon should see production growth of about 4% in 2014.

That production growth — in the face of higher oil and natural gas prices — should help drive cash flows, dividends and buybacks at Exxon. That will push XOM stock to new highs.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/xom-cvx-oil-stocks/.

©2014 InvestorPlace Media, LLC

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