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

In the last quarter, Exxon Mobil (NYSE:XOM) received 14 analyst ratings, with 2 being bullish, 5 somewhat bullish, and 7 indifferent. The company's average 12-month price target is $127.79, a decrease of 1.09% from the previous average of $129.20. Analysts base their ratings on predictions of a company's future earnings and the predictability of its revenue streams.

Portfolio Pulse from Benzinga Insights

July 06, 2023 | 3:00 pm

Several companies have made significant announcements. Google has criticized India's antitrust body for allegedly favoring Amazon. Samsung Electronics expects a 96% drop in Q2 profit due to an oversupply of chips. General Motors anticipates compliance challenges with new EPA emissions rules. Tesco plans to offer virtual GP appointments to its UK staff. Exxon anticipates a decrease in Q2 earnings due to lower natural gas prices and refining margins. Stellantis will resume construction at its battery plant in Windsor, Canada. Fidelity National is selling a 55% stake in Worldpay to GTCR. Bank of America plans to increase its dividend by 9%. Coty has raised its Q4 and FY23 outlook due to strong demand. Genius Sports has extended its deal with the NFL. Marathon Digital's June Bitcoin production has increased by 599% Y/Y. Buckle has reported a decline in June sales. Alibaba and other Chinese stocks are trading lower due to signs of a slowdown in mainland China. JetBlue plans job cuts in New York and Boston but assures no furloughs.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 1:34 pm

Citigroup analyst Alastair Syme has reiterated a Neutral rating on Exxon Mobil (NYSE:XOM) and maintained a price target of $110.

Portfolio Pulse from richadhand@benzinga.com

July 06, 2023 | 1:06 pm

Exxon Mobil Corp (NYSE:XOM) expects a decrease in Q2 earnings by approximately $4 billion due to lower natural gas prices and refining margins. The lower earnings may bring Exxon's net income down to around $7.5 billion. The company estimates lower Q2 earnings due to up to $2.2 billion lower earnings in the upstream division and another up to $2.2 billion decline in the energy products division. Exxon's shares are down 2.22% in the premarket session.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 1:03 pm

ExxonMobil anticipates a negative impact on its Q2 upstream earnings by $2.2B-$1.8B due to changes in gas prices. Additionally, changes in unsettled derivatives are expected to impact Q2 energy products earnings by negative $0.3B to positive $0.1B, according to an SEC filing.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 8:30 pm

A significant investor has taken a bullish stance on Exxon Mobil (NYSE:XOM), with 58% of recent trades being bullish and 41% bearish. The total amount for puts was $184,896 and for calls was $771,488. The targeted price range for Exxon Mobil over the last 3 months has been $90.0 to $125.0. The current price of XOM is up 0.98% at $108.3. Piper Sandler maintains an Overweight rating on Exxon Mobil with a price target of $127.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 4:03 pm

Investors are shifting their focus from dividend-paying stocks to growth-focused tech stocks, according to Ned Davis Research. Non-dividend-paying stocks in the S&P 500 have outperformed dividend stocks, with an 18% gain compared to a 4% gain for income stocks in 2023. Companies like Nvidia Corp. and Apple, Inc., which have low dividend yields, have seen significant share price increases. The poor performance of dividend stocks is attributed to the pullback in regional banking stocks and the decline in energy stocks due to lower crude oil prices.

Portfolio Pulse from Shanthi Rexaline

July 03, 2023 | 9:16 am

A screening of large-cap ETFs revealed the week's winners and losers. Energy Select Sector SPDR Fund (XLE) and Vanguard Real Estate ETF (VNQ) saw gains of 3.50% and 3.43% respectively, while Utilities Select Sector SPDR Fund (XLU) and iShares MSCI Japan ETF (EWJ) saw losses of 1.94% and 1.51% respectively. XLE's largest holdings are Exxon Mobil Corporation (XOM) and Chevron Corporation (CVX), while VNQ's are Vanguard Real Estate II Index Fund Institutional Plus Shares (VRTPX) and Prologis, Inc. (PLD). XLU's largest holdings are NextEra Energy, Inc. (NEE) and Southern Company (SO), and EWJ's are Toyota Motor Corp. (TM) and Sony Group Corporation (SONY).

Portfolio Pulse from Johnny Rice

June 30, 2023 | 5:52 pm

Large-cap ETFs VOO and SPY added $1.99 billion and $1.67 billion in net assets respectively over the trailing week, while IWD and IWR lost $4.31 billion and $1.54 billion respectively. VOO and SPY's largest holdings are Apple and Microsoft, while IWD's are Berkshire Hathaway and Exxon Mobil, and IWR's are DexCom and Marvell Technology.

Portfolio Pulse from Johnny Rice

June 30, 2023 | 5:51 pm

A 'death cross' has formed on Exxon Mobil's (NYSE:XOM) chart, which could indicate a bearish trend for the stock. This occurs when the 50-day moving average moves below the 200-day average, suggesting a potential change in the long-term trend. Exxon Mobil's past and upcoming earnings expectations were also discussed.

Portfolio Pulse from Benzinga Insights

June 30, 2023 | 2:48 pm

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