2 hours ago
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Vandita Jadeja
Tue, May 19, 2026 astatine 11:56 AM CDT 4 min read
Quick Read
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ExxonMobil (XOM) reported Q1 underlying net of $8.77B, up 16% YoY, with a fortress equilibrium expanse (net debt/EBITDA 0.55), trailing P/E of 27, and Golden Pass LNG loading its archetypal cargo successful April 2026 aft delivering each 10 cardinal 2025 projects.
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Chevron (CVX) absorbed Hess and lifted Q1 accumulation 15% YoY to 3,858 MBOED but faces a trailing P/E of 33, antagonistic $1.55B escaped currency travel successful Q1, and nett indebtedness ratio of 17.9% post-acquisition.
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Both integrated lipid majors person surged 30%+ year-to-date connected stronger accumulation and superior discipline, but ExxonMobil’s advantaged Permian and Guyana barrels combined with its Golden Pass LNG ramp connection a cleaner multi-year net tailwind than Chevron, which indispensable inactive show FCF betterment and validate Hess synergies astatine its higher valuation.
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The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Chevron wasn't 1 of them. Get them present FREE.
At $160.49, ExxonMobil (NYSE:XOM) is simply a bargain and astatine $196.12, Chevron (NYSE:CVX) is simply a hold. The 2 integrated majors person some ripped higher successful 2026 connected stronger production, superior discipline, and renewed vigor demand, yet their setups present diverge sharply connected valuation and net power.
Both companies span exploration, refining, chemicals, and progressively low-carbon ventures. Exxon leans connected its 4.6 cardinal oil-equivalent tube per time accumulation base, with Permian and Guyana present 59% of output. Chevron conscionable absorbed Hess, lifting Q1 accumulation 15% YoY to 3,858 MBOED and adding Guyana vulnerability of its own.
The expert who called NVIDIA successful 2010 conscionable named his apical 10 stocks and Chevron wasn't 1 of them. Get them present FREE.
Why The Bull Case Is Loudest On Exxon
Exxon trades astatine a trailing P/E of 27 and a guardant P/E adjacent 14, with 11% ROE and a fortress equilibrium expanse (net debt/EBITDA 0.55). Q1 underlying net deed $8.77 cardinal versus $7.58 cardinal a twelvemonth earlier, and absorption is executing a $20 cardinal 2026 buyback. Golden Pass LNG conscionable loaded its archetypal cargo successful April 2026, and 10 of 10 cardinal 2025 projects were delivered, adding astir $3 cardinal successful net power.
Chevron's bull lawsuit rests connected Hess synergies, a $3 to $4 cardinal structural outgo people by end-2026, and a 3.26% dividend output backed by 39 consecutive yearly increases. CEO Mike Wirth pointed to "record crude throughput successful March" and disciplined superior allocation.
Where The Bears Have A Point
Chevron's trailing P/E of 33 sits good supra Exxon's, adjacent arsenic FY 2025 nett income fell 30.4% and Q1 2026 escaped currency travel swung to -$1.55 billion. Net indebtedness ratio has climbed to 17.9% post-Hess, and Q1 absorbed $2.9 cardinal successful unfavorable timing positive a $360 cardinal ineligible reserve. Insider enactment skews to nett selling.
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