Exxon Mobil late Thursday flagged it might write down the value of its California assets by as much as $2.6 billion.The oil giant XOM, -0.87%, in a Securities and Exchange Commission filing, said a writedown of between $2.4 billion and $2.6 billion in its upstream division mostly reflects idle upstream Santa Ynez Unit assets and associated facilities in California.“While the Corporation is progressing efforts to enable a restart of production, continuing challenges in the state regulatory environment have i ...

Exxon Mobil, the biggest U.S. oil company, became the second major firm in a week to say it will take an impairment charge in the fourth quarter because of problems in California. ...

Exxon Mobil said in a regulatory filing Thursday that it was expecting impairments of $2.4 billion to $2.6 billion in its upstream business. Photo: Michael Nagle/Bloomberg NewsExxon Mobil is expecting up to $2.6 billion in impairments in the fourth quarter for its upstream business, mostly related to idled assets in California.The oil and gas giant said in a regulatory filing Thursday that it was expecting impairments of $2.4 billion to $2.6 billion in its upstream business. ...

The latest trading session saw Exxon Mobil (XOM) ending at $103.22, denoting a +0.84% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily loss of 0.8%. Elsewhere, the Dow saw a downswing of 0.76%, while the tech-heavy Nasdaq depreciated by 1.18%.Coming into today, shares of the oil and natural gas company had gained 1.91% in the past month. In that same time, the Oils-Energy sector gained 0.83%, while the S&P 500 gained 3.4%.Analysts and investors alike will be ...

Exxon Mobil Corp (NYSE: XOM) has gained about 5.0% over the past three weeks but a Mizuho analyst says it’s time to stop buying this energy stock.Exxon stock lost its buy rating at MizuhoCopy link to sectionNitin Kumar downgraded the oil and gas behemoth this morning to “neutral” and lowered his price target to $117. The analyst turned dovish on Exxon stock primarily because he expects oil prices “to be range bound in 2024” until international travel trends and global demand gets clearer.Mizuho’s call arriv ...

designer491 XOM: Recent corrections are overdone We last wrote on Exxon Mobil Corporation (NYSE:XOM) about 4 months ago with the goal of urging investors to take some profits (see the chart below). The stock prices indeed suffered substantial corrections afterward, losing about 14%. In contrast, the S&P 500 (SP500) advanced more than 6%. Against this backdrop, this article will argue that such large price corrections are overdone. In the remainder of this article, I will detail a few immediate positive cata ...

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 ...