Major Oil Companies Cash Flow Generation Soars -- Market Talk
DOW JONES & COMPANY, INC. 11:01 AM ET 5/8/2017
Symbol Last Price Change
XOM 82.7261 +0.7061 (+0.86%)
RDS/A 54.4 +0.17 (+0.31%)
QUOTES AS OF 02:07:16 PM ET 05/08/2017
11:00 ET - The world's biggest oil companies, including Exxon Mobil(XOM) and Royal Dutch Shell(RDS/A), more than quadrupled the amount of cash they generated in excess of capital spending and dividend payments, according to an analysis by Cowen. The majors generated about $10.8B in excess cash compared to $1.5B in the final three months of 2016. The group of companies had a $16.2B deficit in 1Q of last year as well. The changes in cash flow are sustainable and should lead the companies to outperform the market in 2017, according to Cowen. (bradley.olson@wsj.com; @bradnews)
