Exxon Mobil Corporation (XOM) has been awarded an exploration license by Guyana. The license allows the energy giant to look for oil and gas in a disputed area off the coast of South America, where the Venezuelan military had previously expelled two U.S. oil companies. This recent move by Guyana may escalate its tension with neighbouring Venezuela.The energy giant plans to drill two exploration wells in the north and west of the Stabroek block, which has three fields that produce close to 650,000 barrels of ...

On Feb. 2, ExxonMobil (XOM -2.12%) reported its second-highest year of earnings over the last decade. And there could be even more growth to come in the years ahead.Exxon's record earnings in 2022 were a bit of an outlier. Oil prices surged in response to Russia's invasion of Ukraine, geopolitical tensions, and strong demand. 2023, which featured lower oil and gas prices, could be a glimpse of what's to come for Exxon.Exxon is laying the groundwork for sustained earnings growth. A lot of it has to do with c ...

Exxon Mobil Corporation (XOM) announced its decision to exit Equatorial Guinea in the second quarter of 2024, marking the end of nearly three decades of oil drilling activities in the country.The oil major will transfer its remaining investments to the local government, concluding a chapter that transformed the small West African nation into a member of the Organization of the Petroleum Exporting Countries.The move aligns with ExxonMobil’s long-term strategy, focusing on the fastest-growing, lowest-cost opp ...

ExxonMobil (XOM 0.69%) launched an ambitious strategy in 2018 to more than double its earnings and cash flow by 2025, assuming similar commodity prices. The multipronged plan would see the oil company invest in its highest-return projects, enhance its portfolio, and reduce costs. That plan is turning it into a moneymaking machine. The oil company's successful execution of its long-term strategic plan was evident last year. ExxonMobil has already more than doubled its earnings from 2019's baseline. And as CE ...

STEFANI REYNOLDS/AFP via Getty Images Exxon Mobil (NYSE:XOM) posted a mixed end of FY23 with strong production being offset by softer commodities pricing from their upstream, refining, and chemicals segments. Though these headwinds are expected to persist with JPMorgan commodities analysts anticipating Brent to reach $83/bbl mid-2024, I do expect a continuation of a soft chemicals market as we navigate this coming year. Despite these challenges, management is being proactive in their cost-cutting initia ...

Exxon Mobil (XOM) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.Shares of this oil and natural gas company have returned +0.6% over the past month versus the Zacks S&P 500 composite's +5.3% change. The Zacks Oil and Gas - Integrated - International industry, to which Exxon belongs, has lost 2.1% over this period. Now the key question is: Where could the stock be headed in the near te ...

David McNew My Thesis Exxon Mobil Corporation (NYSE:XOM) (NEOE:XOM:CA), one of the largest integrated oil and gas companies in the world, seems to me to be the best play among the O&G majors due to the combination of positive factors we can see from the latest quarterly results, as well as how cheaply XOM stock is trading today. My Reasoning Exxon Mobil posted Q4 FY2023 earnings of $7.6 billion, equivalent to $1.91 per diluted share. However, these figures included some bumps, with $2.3 billion in ident ...

Exxon Mobil Corporation (XOM) and Chevron Corporation (CVX), already major players in the Permian Basin, are gearing up for a significant increase in production in 2024.The move indicates that U.S. oil production could surpass previous expectations, repeating the trend observed in 2023.ExxonMobil’s Expansion through AcquisitionExxonMobil entered an agreement to acquire Pioneer Natural Resources Company (PXD) for $64.5 billion, marking a significant expansion in the Permian Basin. This acquisition is set to ...

Exxon Mobil Corporation (XOM) reported fourth-quarter 2023 earnings per share of $2.48 (excluding identified items), which beat the Zacks Consensus Estimate of $2.21. However, the bottom line declined from the year-ago level of $3.40.Total quarterly revenues of $84,344 million missed the Zacks Consensus Estimate of $91,814 million and also declined from the year-ago quarter’s figure of $95,429 million.Better-than-expected quarterly earnings primarily resulted from increased liquids production. The positives ...

Exxon Mobil (XOM) reported $84.34 billion in revenue for the quarter ended December 2023, representing a year-over-year decline of 11.6%. EPS of $2.48 for the same period compares to $3.40 a year ago.The reported revenue represents a surprise of -8.14% over the Zacks Consensus Estimate of $91.81 billion. With the consensus EPS estimate being $2.21, the EPS surprise was +12.22%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Str ...