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

U.S. stocks showed mixed performance with the Nasdaq Composite and the S&P 500 experiencing declines. Apple's stock declined by 1.71% following the lukewarm response to its new product unveilings. WeWork's shares surged by 86.36% despite the absence of company-specific news. Exxon Mobil's shares rose by 2.89% due to OPEC's maintained growth forecasts and a projected supply shortfall in the global oil markets. Adobe's shares declined by 3.95% ahead of its third-quarter earnings report. Tesla's shares declined by 2.23% despite Wall Street attention on its venture into supercomputing.

Portfolio Pulse from Benzinga Neuro

September 13, 2023 | 2:02 am

Exxon Mobil Corp's shares are trading higher after OPEC maintained its growth forecasts and predicted a supply shortfall. This is mainly due to Saudi Arabia's extension of production cuts. OPEC's forecasts indicate a sharp drop in world oil inventories, potentially the largest since 2007.

Portfolio Pulse from Henry Khederian

September 12, 2023 | 6:52 pm

Shares of oil companies are trading higher after OPEC maintained its growth forecasts and predicted a supply shortfall. This news directly impacts the stocks of Marathon Oil Corporation (MRO), Occidental Petroleum Corporation (OXY), Transocean Ltd. (RIG), Texas Pacific Land Trust (TPL), and Exxon Mobil Corporation (XOM).

Portfolio Pulse from Benzinga Newsdesk

September 12, 2023 | 5:02 pm

The energy sector is in the spotlight due to fluctuations in oil prices and a resurgent interest in heating oil. Liquefied natural gas (LNG) is expected to gain significant attention due to volatile inventory levels in the EU, labor disruptions in supply hubs, and geopolitical tensions. The U.S., a major player in the global LNG market, exported 3.8 trillion cubic feet of LNG in 2022. Last week, a dip in EU LNG inventories and Chevron Australia’s LNG strikes led to a spike in the price of UK Natural Gas and Henry Hub futures. Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), Cheniere Energy (NYSEAMERICAN: LNG), and Shell (NYSE:SHEL) are mentioned in the context of the LNG market.

Portfolio Pulse from Kevin Green

September 12, 2023 | 3:52 pm

Exxon Mobil's (NYSE:XOM) short percent of float has risen 3.57% since its last report, with 34.65 million shares sold short, which is 0.87% of all regular shares available for trading. This increase in short interest can signal that investors have become more bearish. However, Exxon Mobil's peer group average for short interest as a percentage of float is 1.62%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

September 11, 2023 | 5:15 pm

Large-cap ETFs with AUM above $10 billion were screened for weekly returns. Winners included Energy Select Sector SPDR Fund (XLE) and iShares MSCI Japan ETF (EWJ), while losers were iShares Silver Trust (SLV) and VanEck Gold Miners ETF (GDX). XLE, with holdings in Exxon Mobil and Chevron, was up 2.53% over the week. EWJ, with holdings in Toyota and Sony, was down 0.96%. SLV, tracking silver performance, was down 5.98%. GDX, providing exposure to gold mining companies like Newmont and Barrick Gold, was down 3.35%.

Portfolio Pulse from Johnny Rice

September 08, 2023 | 8:48 pm

Exxon Mobil (NYSE:XOM) has seen unusual options activity, with a significant number of bullish trades. Of the 12 strange trades detected, 58% were bullish and 41% bearish. The total amount for puts was $86,475 and for calls was $476,530. Whales have been targeting a price range from $110.0 to $130.0 for Exxon Mobil over the last 3 months. The current price of XOM is up 0.7% at $114.32. Analysts from Morgan Stanley, Redburn Partners, Mizuho, and UBS have maintained their ratings on Exxon Mobil with price targets ranging from $105 to $139.

Portfolio Pulse from Benzinga Insights

September 06, 2023 | 7:31 pm

The Direxion Daily S&P Oil & Gas Exp & Prod Bull 2X Shares (GUSH) rose about 2.5% after Saudi Arabia and Russia extended crude oil production cuts until December. This caused stocks in the oil sector to rally, with WTI-graded crude oil prices rising to $87 a barrel. GUSH is a double-leveraged fund designed to outperform the movement of companies in the S&P Oil & Gas Exploration & Production Select Industry Index, including Exxon Mobil Corp (XOM), Occidental Petroleum Corporation (OXY), and Marathon Oil Corporation (MRO).

Portfolio Pulse from Melanie Schaffer

September 05, 2023 | 4:15 pm

Saudi Arabia and Russia have extended their crude oil production cuts until December, causing a surge in oil prices and related stocks. The Energy Select Sector SPDR Fund (NYSE:XLE), the SPDR S&P Oil & Gas Exploration and Production (NYSE:XOP), and the VanEck Oil Services ETF (NYSE:OIH) all experienced increases. Large-cap oil stocks Occidental Petroleum Corp. (NYSE:OXY), EOG Resources, Inc. (NYSE:EOG), and Exxon Mobil Corp. (NYSE:XOM) also saw increases. Stocks with the most potential upside include HighPeak Energy, Inc. (NYSE:HPK), Alliance Resource Partners, L.P. (NYSE:ARLP), and Tamarack Valley Energy Ltd. (NYSE:TVE).

Portfolio Pulse from Piero Cingari

September 05, 2023 | 2:50 pm

Cathie Wood, the force behind ARK Invest, highlighted Exxon's (NYSE:XOM) initiative to incorporate Bitcoin mining machines into their natural gas fields during her appearance on the Raz Report. This move ensures that natural gas, instead of being released or flared, is utilized to mint Bitcoin, addressing environmental concerns and transforming a potential environmental issue into a profitable venture.

Portfolio Pulse from Jose Rodrigo Safdiye

September 03, 2023 | 5:00 am

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