U.S. shale drillers have posted strong Q3 earnings as a result of rising crude prices Large shale drillers in the U.S. are slow to increase production, and instead focus on shareholder returns 2022 production guidance remains very modest for most large shale drillers Nearly 60% of S&P 500 companies have reported third-quarter 2021 earnings, and the energy sector has again emerged as a standout performer. According to the latest FactSet data , the Energy sector is reporting the second-largest positive (aggregate) difference between actual earnings and estimated earnings (+15.9%), behind only the Financial sector. Within this sector, Phillips 66 (NYSE:PSX) ($3.18 vs. $1.90), Chevron (NYSE:CVX) ($2.96 vs. $2.20), and Valero Energy (NYSE:VLO) ($1.22 vs. $0.92) have reported the largest positive EPS surprises. However, the U.S. Shale Patch has emerged as the class valedictorian. After a turbulent period characterized by mounting debts, dwindling cash flows, and awful share performance, the […]