The Rabid Capitalist

Professor Glenn A. Okun

Shell (SHEL):  The company’s earnings met analysts’ expectations for the third quarter.  Shell’s adjusted quarterly net income was $6.22 billion, a 23% increase from the prior quarter.  It quarterly results benefited from expanded refining margins and oil prices.

Exxon Mobil (XOM):  Bernstein reduced its price target to $138 from $140 while maintaining its Outperform rating.  They voiced confidence on Exxon’s ability to extract superior value from the Pioneer acquisition.