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Will Exxon and Chevron's Earnings Be as Bad as BP's Results?

7/30/15 1:00 PM EDT
ConocoPhillips (COP), Exxon Mobil (XOM) and Chevron (CVX) are reporting earnings this week and low oil prices are creating some challenges, according to TheStreet's Energy Contributor Dan Dicker. Dicker said it will be important to see whether companies' refining operations can make up for how badly things have been going on the production side of the business, which is impacted by weakness in crude. Dicker said while companies like BP (BP) have been cutting costs, he's not looking for big restructurings at the other oil majors, and in fact, he thinks they should be buying assets. He pointed out that Exxon has a lot of cash on hand and there are a lot of independent oil companies that could be purchased. Dicker said energy company stock prices won't turn around until crude prices rise.
Stocks in this video: XOMCVXBPCOP
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