You'd better sit down for this, Fools, because I may be about to eat my own words -- and maybe a helping of crow to boot. (Let's hope that seven years have improved the taste).Seven years ago, I put an article in this space explaining the simple reason I won't buy ExxonMobil stock. Granted, I never actually used the word "never" in the article -- but that was the clear implication. After running the numbers and comparing Exxon's reported net income to the actual free cash flow it was generating from its oil ...

SAN FRANCISCO, CALIFORNIA - NOVEMBER 15: ExxonMobil CEO Darren Woods speaks during the APEC CEO ... [+] Summit at Moscone West on November 15, 2023 in San Francisco, California. The APEC summit is being held in San Francisco and runs through November 17. (Photo by Justin Sullivan/Getty Images)Getty ImagesAfter a 9% decline since the beginning of 2023, at the current price of around $100 per share, we believe Exxon Mobil (NYSE: XOM), a leading explorer, producer, transporter, and seller of crude oil and natu ...

olm26250 By Levi at StockWaves; Produced with Avi Gilburt We wrote about ExxonMobil (NYSE:XOM) at this same time a year ago (see here). The entire energy sector had been on a torrid tear since finding a major low back in the Fall of 2020. Many times, after such a sharp ascent, the price will correct via duration rather than a rapid reversal. That seems to have been the case with the energy sector and XOM in particular. At the time of publication back on January 10th, 2023, XOM was expected to continue a cor ...

ExxonMobil (XOM -1.45%) runs with a pretty distinguished group of peers, all of which are giant international energy producers with diversified businesses. Despite immense pressure to shift hard toward clean energy, Exxon is sticking close to its core oil and natural gas businesses. But investors need to think long-term before they make a final judgment call. Here's why Exxon could be worth buying even as the world pivots toward renewable power.Exxon is an industry giantExxon has an over $400 billion market ...

Joe Raedle Investment thesis We have covered the stock before, and since last quarter several things have changed, most importantly: Exxon Mobil Corporation and Pioneer Natural Resources jointly announced a definitive agreement under which Exxon Mobil will acquire Pioneer; We have lowered our forecast for Brent crude oil prices and provide an updated view of the oil market balance through Q3 2024. The acquisition of Pioneer Natural Resources is expected to increase Exxon Mobil's oil and gas sales on the ...

Exxon Mobil Corporation (NYSE:XOM) 2023 Corporate Plan Update December 6, 2023 10:00 AM ET Company Participants Jennifer Driscoll - Vice President, Investor Relations Darren Woods - Chairman, Chief Executive Officer Kathryn Mikells - Senior Vice President, Chief Financial Officer Conference Call Participants Doug Leggate - BofA Securities Neil Mehta - Goldman Sachs Devin McDermott - Morgan Stanley Bob Brackett - Sanford C. Bernstein John Royall - JPMorgan Jason Gabelman - TD Cowen Biraj Borkhataria - RBC ...

Financial Performance - ExxonMobil's Q3 2023 earnings were $9.1 billion, or $2.25 per diluted share, down from $19.7 billion a year earlier, primarily due to lower crude and natural gas prices [56]. - For the first nine months of 2023, ExxonMobil reported earnings of $28.4 billion, or $6.98 per diluted share, compared to $43.0 billion in the same period of 2022 [56]. - Total earnings for Energy Products in Q3 2023 were $2.442 billion, a decrease of 58% from $5.819 billion in Q3 2022 [66]. - Earnings from Specialty Products in Q3 2023 totaled $619 million, down from $762 million in Q3 2022, indicating a decline of 18.7% [74]. - The company reported a loss of $33 million related to additional European taxes in Q3 2023, impacting overall earnings [66]. - Cash flow from operations for the first nine months of 2023 was $41.7 billion, a decrease of $17.5 billion from the same period in 2022 [79]. - The effective income tax rate for Q3 2023 was 34%, up from 29% in the prior year, primarily due to a change in the mix of results in jurisdictions with varying tax rates [83]. - Total taxes for the first nine months of 2023 were $37.7 billion, a decrease of $0.4 billion from 2022, with income tax expense down by $1.6 billion to $12.8 billion [83]. Production and Sales - Net production of crude oil and natural gas liquids in the United States decreased to 756 thousand barrels daily in Q3 2023 from 783 thousand barrels daily in Q3 2022, a decline of 3.5% [61]. - Worldwide oil-equivalent production was 3.688 million barrels per day in Q3 2023, down 28 thousand barrels per day from Q3 2022, while net production grew by 79 thousand barrels per day excluding impacts from entitlements and divestments [65]. - Net natural gas production available for sale in the United States was 2.271 billion cubic feet daily in Q3 2023, down from 2.351 billion cubic feet daily in Q3 2022, a decrease of 3.4% [61]. - Worldwide energy products sales reached 5.551 billion dollars in Q3 2023, slightly up from 5.537 billion dollars in Q3 2022 [68]. - Specialty Products sales in the U.S. for the third quarter of 2023 were 498,000 metric tons, up from 483,000 metric tons in the same period of 2022, while non-U.S. sales decreased to 1,414,000 metric tons from 1,434,000 metric tons [77]. Capital Expenditures and Investments - Capital and exploration expenditures for Q3 2023 were $6.0 billion, an increase of $0.3 billion from Q3 2022, and totaled $18.6 billion for the first nine months, up $3.3 billion from 2022 [56]. - The Corporation plans to complete 2023 capital spending at the top end of the guidance of $23 billion to $25 billion [85]. - The Corporation continues to evaluate opportunities for acquisitions, focusing on strategic fit, cost synergies, and potential for future growth [80]. - The company’s future capital expenditures will include allocations to low carbon solutions, although specific amounts were not disclosed [90]. Acquisitions and Strategic Initiatives - ExxonMobil announced the acquisition of Denbury Inc. on July 13, 2023, to enhance its Low Carbon Solutions opportunities [51]. - A definitive merger agreement with Pioneer Natural Resources was announced on October 11, 2023, which is expected to more than double ExxonMobil's Permian production volume to 1.3 million barrels of oil equivalent per day [51]. - The company is actively pursuing acquisitions, including the completion of the Denbury acquisition, which is part of its strategy to enhance its carbon capture and storage capabilities [90]. Environmental and Regulatory Commitments - The company aims to achieve net zero Scope 1 and Scope 2 emissions from operated assets by 2050, with a target for the Upstream Permian Basin unconventional operated assets to reach net zero by 2030 [90]. - The company plans to eliminate routine flaring in line with the World Bank's Zero Routine Flaring initiative and aims for near-zero methane emissions from its operations [90]. - The company is focused on advancing its greenhouse gas emission-reduction plans, which are incorporated into its medium-term business plans updated annually [90]. - The company’s plans are influenced by government policies, including the U.S. Inflation Reduction Act, which supports lower carbon investment opportunities [90]. Market and Economic Factors - Market risks for the nine months ended September 30, 2023, remain consistent with those discussed in the 2022 Annual Report [92]. - The company’s financial and operational performance is subject to various market factors, including global supply and demand changes for oil and natural gas [90]. - The company’s ability to maintain cost reductions and efficiencies is critical to offsetting inflationary pressures and achieving structural earnings improvement [90].

Financial Data and Key Metrics Changes - The company reported earnings of $9.1 billion for Q3 2023, an increase of $1.2 billion compared to the previous quarter [4] - Cash flow from operations was $16 billion, reflecting structural earnings improvements over the past several years [11] - Year-to-date capital expenditures (capex) reached $18.6 billion, with expectations to finish the year at the top end of guidance [12] Business Line Data and Key Metrics Changes - In energy products, the company achieved the highest third-quarter refinery throughput on record, driven by the Beaumont refinery expansion, providing 250,000 barrels per day of new capacity [9] - The Baytown chemical expansion started up, adding 750,000 tons per year of new performance chemical capacity [10] Market Data and Key Metrics Changes - The company closed the sale of its Thailand refinery, bringing year-to-date cash proceeds from asset sales to over $3 billion [6] - The acquisition of Denbury is expected to reduce carbon emissions by 100 million tons per year, significantly enhancing the company's environmental impact [7] Company Strategy and Development Direction - The company continues to focus on capital allocation strategies that prioritize high-return opportunities while divesting non-strategic assets [6] - The acquisition of Pioneer Natural Resources is aimed at strengthening the upstream portfolio and enhancing resource recovery efficiency [8] - The company plans to accelerate Pioneer’s net zero ambition by 15 years, demonstrating a commitment to reducing emissions [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's operational performance and its ability to deliver industry-leading results in any price environment [5] - The company aims to maintain a strong balance sheet to navigate potential future market cycles [75] - Management highlighted ongoing efforts to optimize operations and reduce structural costs, achieving $9 billion in savings since 2019 [52] Other Important Information - The company announced a 4% increase in the quarterly dividend to $0.95 per share, marking the 41st consecutive year of annual dividend increases [6] - The company is set to provide a corporate plan update on December 6, 2023 [15] Q&A Session Summary Question: Clarity on top line synergies from the Pioneer transaction - Management outlined that the synergies are based on existing operations and demonstrated recovery rates, with confidence in achieving additional oil-equivalent barrels [18][19] Question: Gating factors for production targets post-Pioneer acquisition - Management clarified that the focus is on value targets rather than fixed volume targets, with expectations of reaching a million barrels a day by 2027 based on current capital spending [24][25] Question: Debottlenecking opportunities in Guyana - Management reported that production is exceeding plans, with significant uplifts realized from existing operations and expectations for similar performance from upcoming projects [28][29] Question: Production capacity trajectory through the end of the decade - Management indicated that they will update resource numbers when significant changes occur, with a focus on maintaining production capacity across multiple FPSOs [40] Question: Shareholder return strategy and buybacks - Management confirmed a balanced approach to capital allocation, with ongoing share repurchase programs and a strong focus on maintaining a robust balance sheet [75]

2023 Differentiated execution Third-quarter driving strong results earnings 10.27.23 Important information for investors and stockholders ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 f8k991001x0x0.gif FORM10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ Commission File Number 1-2256 Exxon Mobil Corporation (Exact name of registrant as specified in its charter) New Jersey 13-5409005 ...