Oil stocks moving on Tuesday and we’re diving into the latest news that has shares on the rise today!
The biggest news behind the rise of oil stocks today comes from Exxon Mobil (NYSE:XOM). The oil giant released a strong earnings report for the fourth quarter of 2021. That saw its earnings per share of $2.05 smash Wall Street’s estimate of $$1.93 per share.
Another quick bit of news worth noting is Vale (NYSE:VALE) preparing to release its earnings report for Q4 2021. The company plans to release its production and sales report next week with more details to follow later this month.
The earnings news today is likely what’s pushing oil stocks higher. That EPS beat from XOM is a good sign for other companies and could have other oil stocks gaining in symphony with XOM shares.
Let’s dive into how today’s news is affecting oil stocks below!
Oil Stocks Rising on Tuesday
- Exxon Mobil starts us off with shares of XOM stock rising 5.3% as of Tuesday afternoon.
- Vale shares are up next with the stock getting a 4.8% boost as of this writing.
- Marathon Oil (NYSE:MRO) stock is also taking off today with the company’s shares up 4.6% this afternoon.
- Occidental Petroleum (NYSE:OXY) shares finish off this list with the stock heading 3.3% higher as of this writing.
Investors that want to keep up with all the latest stock market news are in the right place!
InvestorPlace has everything traders need to know about the hottest stocks on Tuesday. A few examples of our coverage include what has shares of MedMen (OTCMKTS:MMNFF) stock heating up today, companies to watch now that Tom Brady is retired, as well as details on the AT&T (NYSE:T) spinoff announcement. You can find all of that at the following links!
More Stock Market News for Tuesday
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.