Streetbeat News

XOM

Exxon Mobil Corporation

https://corporate.exxonmobil.com

Industry

Oil & Gas Integrated

Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States and internationally. It operates through Upstream, Downstream, and Chemical segments. The company is also involved in the manufacture, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; manufactures and sells petrochemicals, including olefins, polyolefins, aromatics, and various other petrochemicals; and captures and stores carbon, hydrogen, and biofuels. As of December 31, 2021, it had approximately 20,528 net operated wells with proved reserves. The company was founded in 1870 and is headquartered in Irving, Texas.

Open

121.30

Mkt cap

538B

Volume

9.4M

High

121.50

P/E Ratio

15.05

52-wk high

126.34

Low

119.62

Div yield

0.03

52-wk low

95.77

Crude oil prices have dropped by 20%, entering a bear market, due to concerns of a global demand slowdown. This has impacted energy-related stocks, with the Energy Select Sector SPDR Fund (XLE), SPDR Oil & Gas Exploration and Production ETF (XOP), and VanEck Oil Services ETF (OIH) all experiencing declines. Chevron Corporation (CVX), Exxon Mobil Corp. (XOM), and Schlumberger N.V. (SLB) have also seen declines. However, the decline in energy-related stocks has increased the appeal of traditional valuation metrics, with several large-cap U.S. energy stocks now trading at levels below 10x.

Portfolio Pulse from Piero Cingari

November 08, 2023 | 5:32 pm

A significant amount of unusual options activity has been observed for Exxon Mobil (NYSE:XOM), with a notably bearish stance. Of the 22 strange trades detected, 27% were bullish and 72% were bearish. The trades included 2 puts for a total of $64,868 and 20 calls for a total of $2,217,816. The targeted price range for Exxon Mobil over the last 3 months is $75.0 to $115.0. The current price of XOM is $103.66, down by -2.09%. Analysts have mixed ratings for Exxon Mobil, with price targets ranging from $120 to $145.

Portfolio Pulse from Benzinga Insights

November 07, 2023 | 3:01 pm

Exxon Mobil (NYSE:XOM) has seen unusual options activity, with a majority of investors taking a bearish stance. The trades include 4 puts and 6 calls, with a total amount of $215,440 and $359,539 respectively. The price target range for Exxon Mobil over the last 3 months has been $100.0 to $110.0. The current price of XOM is up 0.3% at $108.1. Several experts have given their ratings and price targets, with Bernstein and RBC Capital downgrading their actions, while Jefferies, JP Morgan, and Truist Securities maintain or upgrade their ratings.

Portfolio Pulse from Benzinga Insights

November 06, 2023 | 4:45 pm

Air Products announced plans to build Europe's largest blue hydrogen plant in Rotterdam, the Netherlands, expected to be operational by 2026. The plant will serve ExxonMobil's Rotterdam refinery and other customers via Air Products' hydrogen pipeline network. The project is part of long-term agreements with ExxonMobil and the Dutch State. The plant will also feature a carbon capture and CO2 treatment facility, which will help reduce Air Products' direct emissions and contribute to meeting the Dutch National Climate Agreement targets.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 2:41 pm

The ongoing Israel-Hamas conflict has escalated with Hezbollah and Houthi expected to join the war. The situation has raised concerns about potential impacts on European economies due to lower regional trade, tighter financial conditions, higher energy prices, and lower consumer confidence. Goldman Sachs has expressed concern that crude oil prices could rise to more than $150 a barrel if the conflict escalates. The US dollar index has dipped but remains above the 200-day moving average, indicating a bullish outlook. Treasury yields are on a downward trajectory, signaling increased demand for bonds.

Portfolio Pulse from Anthony Noto

November 03, 2023 | 2:25 pm

Bernstein analyst Bob Brackett revised ratings on several oil majors following their earnings release. Exxon Mobil Corp (XOM) was reiterated at Outperform with a lowered price target of $139.00. Chevron Corp (CVX) was upgraded to Outperform with a lowered price target of $182. Hess Corp (HES) was downgraded to Market Perform with a reduced price target of $166. The analyst sees the Pioneer Natural Resources Co (PXD) acquisition as beneficial for XOM and the HES acquisition as more strategic for CVX.

Portfolio Pulse from Lekha Gupta

November 02, 2023 | 7:45 pm

UBS analyst Jon Rigby has maintained a 'Buy' rating on Exxon Mobil (NYSE:XOM) but lowered the price target from $143 to $142.

Portfolio Pulse from Benzinga Newsdesk

November 01, 2023 | 7:15 pm

The ongoing Israel-Hamas conflict has led to market reactions, with Iran calling for an oil embargo of Israel, causing U.S. crude futures to rise toward $83 a barrel. Stocks to watch include Direxion Daily S&P Oil & Gas Exp & Prod Bull 2X Shares (GUSH), Direxion Daily S&P Oil & Gas Exp & Prod Bear 2X Shares (DRIP), Marathon Oil Corporation (MRO), Exxon Mobil Corp (XOM), Chevron Corporation (CVX), and Occidental Petroleum Corporation (OXY). The iShares MSCI Israel ETF (EIS) had its most successful session of 2023. Defense stocks to watch include Lockheed Martin Corp (LMT), L3Harris Technologies Inc (LHX), General Dynamics Corp (GD), Northrop Grumman Corp (NOC), and RTX Corp (RTX).

Portfolio Pulse from Anthony Noto

November 01, 2023 | 2:47 pm

Senate Majority Leader Schumer has urged the Federal Trade Commission (FTC) to investigate whether proposed oil and gas acquisitions by Exxon Mobil Corp. and Chevron Corp. could violate antitrust laws.

Portfolio Pulse from Charles Gross

November 01, 2023 | 10:51 am

Exxon Mobil (NYSE:XOM) has seen unusual options activity, with a significant bearish stance. Of the 11 strange trades detected, 36% were bullish and 63% bearish. The total amount for puts was $362,704 and for calls, $244,028. Whales have been targeting a price range from $70.0 to $115.0 for Exxon Mobil over the last 3 months. The current price of XOM is $105.74, down -0.13%. Analysts from Morgan Stanley, Jefferies, Bernstein, Truist Securities, and JP Morgan have given their ratings and price targets.

Portfolio Pulse from Benzinga Insights

October 31, 2023 | 3:01 pm

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