Zacks Analyst Blog Highlights: ExxonMobil Corporation, Chevron Corporation, ConocoPhillips, Hess Corporation and Humana Inc. - Press Releases

For Immediate Release

Chicago, IL – February 2, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: ExxonMobil Corporation (XOM), Chevron Corporation (CVX), ConocoPhillips (COP), Hess Corporation (HES) and Humana Inc. (HUM).

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Here are highlights from Monday’s Analyst Blog:

Exxon Beats but Net Sinks

ExxonMobil Corporation (XOM) reported fourth quarter 2009 earnings of $1.27 per share, compared to the Zacks Consensus Estimate of $1.20 and year-earlier earnings of $1.54.

Weak refining and marketing (R&M) margins hit all the super majors hard in the fourth quarter. Like Exxon, Chevron Corporation (CVX), ConocoPhillips (COP), Hess Corporation (HES) were all affected by poor R&M margins.

However, with a sound cash position, solid credit profile and diverse asset base, both in terms of business mix as well as geographical footprint, Exxon remains better positioned than any of its peers.

The weak margins at XOM caused a 23% drop in earnings from the year-earlier quarter to $6.05 billion. Upstream earnings were up nearly 2.5% year-over-year to $5.78 billion, driven by higher crude oil realizations, partially offset by lower natural gas realizations.

The production of oil and natural gas averaged 4.18 million oil-equivalent barrels per day, up approximately 2% year over year. When adjusted for the impact of entitlement volumes and OPEC quota restrictions, production was up about 3%. Exxon’s refinery throughput averaged 5.38 million barrels per day, up more than 1% from the year-earlier level.

Exxon's total refined product sales of 6.49 million barrels per day were down 4% year over year, reflecting the depressed demand environment. Total product sales in XOM's Chemicals business increased almost 19% year over year.

Cash flow from operations and asset sales totaled $8.9 billion, down from $12.3 billion in the fourth quarter of 2008. Capital expenditures totaled $8.26 billion during the quarter, up 21% year-over-year. We are currently Neutral on ExxonMobil shares.

In-Line Quarter for Humana

Humana Inc. (HUM) reported fourth quarter and full-year results for fiscal 2009.

Humana reported fourth-quarter earnings of $1.48 per share, in line with the Zacks Consensus Estimate. The company earned $1.03 per share for the year-ago quarter. Results were helped by lower prescription drug plan (PDP) claim expenses in the reported quarter.

Consolidated revenues for the quarter came in at $7.63 billion compared to $7.49 billion in the year-ago quarter, up approximately 2% with total premium and administrative service fees rising 2% from the prior-year quarter primarily because of increases in both average membership and per-member premiums for the company’s Medicare Advantage products.

The latest quarter’s consolidated benefit ratio, which reflects the percentage of benefit expenses in premium revenues, decreased to 81.8% from 83.3% in the prior-year quarter. The decrease of 150 basis points was primarily attributable to a 240 basis points decrease in the Government Segment benefit ratio, partially offset by the rise of 130 basis points in the Commercial Segment benefit ratio.

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