Exxon’s second-quarter profit plunged 52% to $4.2 billion. The energy giant’s division that pumps oil and gas accounted for just $2 billion of that, the lowest level since 2002. Chevron eked out a quarterly profit of $571 million thanks to its fuel-making refineries, which made up for the company’s $2.2 billion loss from pumping oil and gas—the first such loss in nearly 20 years. Chevron lowered its outlook for crude prices and wrote down the value of its energy holdings by $2 billion. The hard landing fell short of analysts’ expectations, and Exxon and Chevron shares dropped nearly 5% Friday, making them the two worst performers in the Dow Jones Industrial Average. Global oil prices have fallen more than 50% since last June, and settled Friday at $52 a barrel, the lowest since January. Exxon and Chevron have posted bigger profits during the 2009 downturn and earlier oil busts. […]