Dan Dicker, Energy Contributor at TheStreet, talks with Rhonda Schaffler about upcoming third quarter oil company reports of the super majors like Exxon-Mobil (XOM), Chevron (CVX) and Conoco-Philips (COP). All of the oil companies have been hard hit by the continuing low price for oil and their results are expected to be universally bad. This does not represent an opportunity to trade the stocks however, says Dicker, as many of the expected results are already being represented in the stocks. He points to two independent U.S. oil companies, Anadarko (APC) and Hess (HES) to prove his point: Anadarko posted fairly miserable results in their report on Tuesday but has seen their stock rally, while Hess beat the expectations of analysts, yet has dropped significantly in price. Dicker recommends a longer-term outlook on oil stocks and prefers Exxon to Chevron.
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