Exxon And Chevron Post Blockbuster Earnings Amid Oil Price Rally

It was supposed to be a blockbuster quarter for energy names thanks to the ongoing surge in oil prices and it did not disappoint: earlier today Chevron reported stellar Q3 earnings, beating on the top and bottom line, with EPS of $2.96 (beating expectations of $2.21), the highest since Q1 2013 on improved market conditions, leading the energy giant to weigh more share buybacks while reining in spending after surging natural gas prices and oil-refining returns drove the U.S. supermajor’s free cash flow to an all-time high. Then moments ago,…