The energy sector is in focus as ExxonMobil (XOM) and Chevron (CVX) both reported second-quarter earnings. ExxonMobile beat expectations on both revenue and profit, reporting revenue of $93.06 billion, surpassing estimates of $87.75 billion. Adjusted earnings also exceeded projections, coming in at $2.14 per share versus the expected $2.03. Chevron saw mixed results, topping revenue estimates with $51.18 billion against projections of $50.31 billion, while adjusted EPS fell short at $2.56, missing the estimated $2.93. Tortoise portfolio manager Brian Kessens joins Catalysts to discuss his outlook on each company following their respective reports. Kessens notes that Exxon beat their production estimates while also outperforming on their “three larger horses that they’re betting on” for long-term growth. These include their legacy Permian position, the acquisition of Pioneer Natural Resources, and their Guyana assets. Kessens states he “really like[s] what Exxon is doing.” On the other hand, he points out that Chevron experienced “unplanned downtime” in their production this quarter, falling short on numerous international operations. With the Hess (HES) acquisition being a significant focus at Chevron, Kessens describes it as “an overhang” for the company. “I think from a business perspective, their best [bet] is to keep their head down, fight through and execute on their existing business, and try to put the Hess acquisition to the side as they focus on that,” he told Yahoo Finance. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith