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

111.90

Mkt cap

487B

Volume

9.8M

High

111.90

P/E Ratio

13.80

52-wk high

126.34

Low

110.25

Div yield

0.03

52-wk low

95.77

Exxon Mobil's CEO has stated that policies should focus on emissions reduction rather than eliminating oil and gas. This statement comes amidst increasing pressure on the oil and gas industry to transition towards renewable energy sources.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 4:10 pm

Halliburton Company (NYSE:HAL) is under scrutiny for exporting equipment worth over $7.1 million to Russia, despite announcing last year that it had ceased operations in the country. The equipment was exported to its former Russian operation in the six weeks following the sale of its Russian office. The situation has sparked frustration in Ukraine and raised questions about the trade relationship between U.S. oil and gas companies and Russia.

Portfolio Pulse from Mohit Manghnani

September 18, 2023 | 2:58 pm

Mizuho analyst Nitin Kumar maintains a Buy rating on Exxon Mobil (NYSE:XOM) and raises the price target from $131 to $139.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 2:46 pm

BP Plc is reportedly considering breaking the gender ceiling in the energy sector by potentially appointing a female CEO. This comes after the departure of its previous CEO, Bernard Looney, due to undisclosed workplace relationships. BP is more gender-balanced than most of its industry counterparts, with women making up 39% of employees and 30% of senior leaders. The company aims to have women fill at least half of its roughly 400 leadership roles by 2030.

Portfolio Pulse from Nabaparna Bhattacharya

September 16, 2023 | 7:58 pm

California has initiated legal action against several major oil companies, including Exxon Mobil Corporation, Shell PLC, BP P.L.C., ConocoPhillips, Chevron Corporation, and the American Petroleum Institute. The state alleges that these companies concealed the dangers of fossil fuels for decades, resulting in immense climate change-related damages. The lawsuit seeks the creation of a special fund to pay for recovery from the escalating harm caused by climate change.

Portfolio Pulse from Nabaparna Bhattacharya

September 16, 2023 | 4:35 pm

Oil prices have surged past $90 per barrel, a level not seen in the last 10 months, due to an improving global demand outlook and tightening supplies. This has resulted in a 30% increase in the U.S. oil benchmark over the past three months. Factors contributing to the surge include stronger-than-expected U.S. economic data, China's stimulus measures, and the prospect of central banks ending their tightening campaigns. On the supply side, oil producers are extending production cuts and oil inventories are at historically low levels. Several U.S. oil-related stocks show varying degrees of sensitivity to these oil price fluctuations.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 2:10 pm

TotalEnergies SE (TTE) is launching development studies for a $9 billion oil project in Block 58, offshore Suriname. TotalEnergies, which operates Block 58 with a 50% interest alongside APA Corporation (APA), expects to start detailed engineering studies by the end of 2023, with a final investment decision by the end of 2024 and first production in 2028. The project aligns with TotalEnergies' strategy of developing low-cost, low-emission oil resources. Exxon Mobil Corporation (XOM) has also struck oil in the nearby Stabroek block.

Portfolio Pulse from Nabaparna Bhattacharya

September 14, 2023 | 4:17 pm

Arm Holdings is preparing for an IPO that could value the company at $54 billion. Goldman Sachs has dismissed multiple employees due to violations of its communications guidelines. Google is reducing its global recruiting department due to a hiring slowdown. Starbucks founder and former CEO Howard Schultz is leaving the company's board. Marvel Studios' VFX workers have voted for unionization. Singapore may impose new rules on ride-hailing companies like Grab Holdings. Kroger's Home Chef division is in a logo dispute with Grubhub. Carrefour is issuing price alerts on products from suppliers like Nestle, PepsiCo, and Unilever. CrownRock is preparing for a potential sale that could value the company at over $10 billion. Delta Air Lines and United Airlines are facing an antitrust lawsuit. Ron Baron holds over $1 billion in shares in SpaceX. Microsoft is facing a formal EU complaint over its Teams app. Electronic Arts' Stig Asmussen is leaving the company. OpenAI is opening a new office in Dublin. Caesars Entertainment has suffered a cybersecurity breach.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 1:56 pm

CrownRock, backed by billionaire Timothy Dunn, is reportedly preparing for a potential sale that could surpass $10 billion, marking a significant milestone in the U.S. oil and gas industry. The company has initiated discussions with investment banks to oversee the sale process. Oil industry giants like Exxon Mobil Corp and Chevron Corp are expected to be approached for the potential acquisition. The decision to explore a sale is driven by the recent upswing in oil prices and high demand for positions in the prosperous Permian basin, where CrownRock operates.

Portfolio Pulse from Vandana Singh

September 14, 2023 | 11:29 am

Valero (NYSE:VLO), a petroleum company, has seen a 20% increase in its stock since the second half of 2023, outperforming the S&P (NYSE:SPY) which only saw a 0.5% increase. Valero's competitors, Phillips 66 (NYSE:PSX) and Marathon Petroleum (NYSE:MPC), have also seen significant increases in their stocks, with 18% and 33% respectively.

Portfolio Pulse from Thrash Capital

September 13, 2023 | 3:54 pm

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