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

Exxon Mobil Corporation (XOM) has announced a definitive agreement to acquire Pioneer Natural Resources Company (PXD) in an all-stock transaction valued at $59.5 billion. The deal is expected to close in the first half of 2024. Exxon Mobil offers an annual dividend yield of 3.42%, and investors can earn $500 per month or $6,000 annually from dividends alone with an investment of approximately $175,496 or around 1,648 shares.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 1:19 pm

Several analyst forecasts were released on Thursday, with notable changes in price targets for various companies. Hyliion Holdings Corp. had its price target cut from $2 to $1 by Cantor Fitzgerald, while Target Corporation's price target was increased from $120 to $135 by B of A Securities. Exxon Mobil Corporation's price target was boosted from $110 to $131 by Truist Securities. Other companies with adjusted price targets include The Procter & Gamble Company, First Solar, Inc., Dynatrace, Inc., Kimberly-Clark Corporation, E2open Parent Holdings, Inc., Astria Therapeutics, Inc., ResMed Inc., and Keurig Dr Pepper Inc.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 12:21 pm

Truist Securities analyst Neal Dingmann has upgraded Exxon Mobil (NYSE:XOM) from Hold to Buy and raised the price target from $110 to $131.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 11:34 am

Jim Cramer plans to sell his entire stake in Pioneer Natural Resources (PXD) following its takeover by Exxon Mobil (XOM). The all-stock deal values Pioneer at $59.5 billion, 18% above its closing stock price on Oct. 5. The deal is expected to conclude in the first half of 2024. Cramer's decision is based on his regard for his Charitable Trust's performance. Meanwhile, outgoing CEO of Pioneer plans to retain his Exxon shares, citing the company's impressive dividend.

Portfolio Pulse from Benzinga Neuro

October 12, 2023 | 7:52 am

The CNN Money 'Fear and Greed' index showed easing investor fears, but remained in the 'Fear' zone. U.S. stocks settled higher on Wednesday as investors awaited the release of the consumer price index. Exxon Mobil Corporation's shares fell around 3.6% after it signed an agreement to acquire Pioneer Natural Resources Company. Investors are awaiting earnings results from Walgreens Boots Alliance, Inc., Delta Air Lines, Inc., and Domino's Pizza, Inc.

Portfolio Pulse from Lisa Levin

October 12, 2023 | 7:14 am

Exxon Mobil Corporation (XOM) has announced plans to acquire Pioneer Natural Resources (PXD) for $64.5 billion, marking one of its largest acquisitions in company history. This is the biggest deal by Exxon Mobil since the merger of Exxon and Mobil in 1999. An investment of $1,000 in Exxon Mobil stock when the merger closed in 1999 would be worth $2,635.66 today, marking a hypothetical return of 163.6% over the last 24 years. When factoring in dividends, the return would be 458.8%.

Portfolio Pulse from Chris Katje

October 11, 2023 | 7:24 pm

Pioneer Natural Resources CEO Scott Sheffield has announced that COO Richard Dealy will lead the Pioneer Transition and Integration Team, according to a letter to employees.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 4:57 pm

Pioneer CEO Scott Sheffield has announced that all of Pioneer's oilfield employees will be offered positions with Exxon. Most of Pioneer's office employees will also be offered a position in the combined company, according to a letter sent to employees.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 4:56 pm

Executives from Exxon Mobil Corp and Pioneer Natural Resources Co have stated that two-thirds of the synergies from their deal will come from increased resource recovery, with the remainder mostly from capital expenditure efficiencies. Exxon has no plans to cut rig operations or headcount after the deal closes.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 4:25 pm

Citigroup's head of equity strategy, Beata Manthey, has expressed a bullish stance on global and emerging market equities, despite a year-long sell-off in the sector. She also mentioned that the bank has been buying tech stocks as fears of a US recession seem overblown. Manthey highlighted that emerging market stocks look very cheap, making them attractive to Citi's bargain hunters. She also mentioned that Citi has recently put an underweight weighting on energy stocks due to concerns over global growth in the face of sustained higher rates. However, she conceded that this call may be at risk due to the escalating conflict in Gaza, which could boost oil producers.

Portfolio Pulse from Daniel Harrison

October 11, 2023 | 3:40 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.