Exxon Mobil Corp.’s stock rose Friday after the oil giant topped analyst estimates for first-quarter profit and grew its production, and as the broad market also advanced.

Exxon Mobil on Friday beat Wall Street's estimate for first-quarter profit as higher oil and gas production from Guyana and the Permian basin helped boost earnings.

Exxon Mobil reported better than expected Q1 earnings, helped by higher production from Guyana and the Permian Basin, but revenues came in flat from the year-earlier quarter at $83.1B.

Exxon Mobil Corp. and Chevron Corp. are likely to shoulder more of the Permian Basin’s oil growth as independent producers cut back due to falling crude prices.

The major oil companies’ results were hurt by narrow refining margins, lower oil prices and rising costs.

Exxon Mobil and Chevron are pushing back on “shortsighted” investors and maintaining their growth plans even as they feud with each other.