Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., speaks during the 2022 CERAWeek by S&P Global conference in Houston, Texas, on Monday, March 7, 2022.President-elect Donald Trump should keep the U.S. involved in global efforts to address climate change, Exxon Mobil CEO Darren Woods said Tuesday.Trump should try to bring a "common sense" approach to the annual U.N. Climate Change Conference and "continue to have the U.S. influence policy around the world," Woods told CNBC's "Squawk Bo ...

Core Insights - Exxon Mobil has experienced a 24% rise in stock price since the beginning of 2024, currently trading around $121 per share, with potential for long-term gains despite limited near-term growth [1] - The company reported a record third-quarter liquid output, attributed to the acquisition of Pioneer Energy Resources, despite a 17% year-over-year decline in Brent oil prices [1][5] - Exxon's fundamentals remain strong, with a low debt-to-equity ratio of 0.2x, allowing it to withstand energy downturns [3] Financial Performance - Year-to-date earnings have doubled compared to the same period in 2019 on a constant-price basis [1] - In Q3, net production rose 5% quarter-over-quarter to 4.6 million barrels of oil equivalent per day, with the highest liquids production in over 40 years at 3.2 million barrels per day [5] - Q3 net income fell to $8.6 billion, or $1.92 per share, from $9.1 billion, or $2.25 per share, in the previous year, while revenues decreased by 1% year-over-year to $90 billion [5] Market Outlook - Forecasts for 2024 predict revenues of $308.2 billion, down 8% year-over-year, with expected EPS of $7.90, leading to a revised valuation of $127 per share [6] - The company plans to develop its fifth and most expensive project, the $12.7 billion Uaru project in Guyana, expected to produce around 250,000 barrels per day [7] Geopolitical Context - China's oil demand growth is projected to be around 180,000 barrels per day this year, significantly lower than previous years, due to economic slowdown and a shift to electric vehicles [2] - Ongoing geopolitical tensions, including the war in Ukraine and conflicts in the Middle East, could lead to higher oil prices, but increased output from the U.S. and non-OPEC countries is helping to balance the market [2]

Exxon Mobil Corporation (XOM) , the oil and gas supermajor, has concluded the purchase of a floating production, storage, and offloading (FPSO) vessel from SBM Offshore. The FPSO Prosperity, working for ExxonMobil’s Payara field offshore Guyana, was acquired through the transaction.While ExxonMobil has gained ownership of the vessel, SBM Offshore is responsible for its operations and maintenance activities. The transaction involves a total consideration of $1.23 billion in cash. The transaction was closed b ...

The energy giant's strategy has fundamentally improved its ability to make money.ExxonMobil (XOM -0.03%) has come a long way over the last five years. The oil behemoth has transformed into a much more profitable company. It delivered industry-leading profitability during the third quarter, enabling it to provide its shareholders with industry-leading cash returns. On its third-quarter conference call, CEO Darren Woods shared the secrets to the company's success and explained how it has become the most profi ...

Vladimir Dimitrov, CFA is a former strategy consultant within the field of brand and intangible assets valuation. During his career in the City of London he has been working with some of the largest global brands within the technology, telecom and banking sectors.Analyst’s Disclosure: I/we have a beneficial long position in the shares of CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (ot ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Exxon Mobil (XOM) .Exxon currently has an average brokerage recommendation (ABR) of 2.00, on a ...

Exxon is in an elite group of dividend stocks.The oil industry has had its share of ups and downs over the decades. Crude prices have varied wildly over the years. They even briefly went negative during the pandemic, only to spike into the triple digits after Russia invaded Ukraine. That stomach-turning volatility has made it difficult for many oil companies to maintain their dividends over the years, let alone continue increasing their payouts. That's what makes ExxonMobil's (XOM 3.18%) dividend history so ...

Retirement is complicated and you only get once chance to do it right. Don't miss out because you didn't know what was out there. The Retirement Forum provides actionable ideals, a high-yield safe retirement portfolio, and macroeconomic outlooks, all to help you maximize your capital and your income. We search the entire market to help you maximize returns. Exxon Mobil Corporation (NYSE: NYSE: XOM ) aka ExxonMobil recently reported Q3 earnings , as the company has sat around all-time highs for several years ...

On Friday, Exxon Mobil Corporation (XOM) reported third-quarter 2024 earnings that exceeded expectations, driven by cost-cutting initiatives, high-yield investments and strategic divestments, all of which contribute to a strong business outlook. Before analyzing the factors underpinning this positive outlook and considering strategic options for investors, let’s first review the third-quarter results.XOM’s Q3 Earnings SnapshotExxonMobil reported earnings per share of $1.92 (excluding identified items), whic ...

Financial Performance - ExxonMobil's third quarter 2024 earnings were $8.6 billion, a decrease from $9.1 billion in the same quarter last year, primarily due to weaker industry refining margins and higher Upstream depreciation[69]. - Earnings (loss) excluding Identified Items for the third quarter 2024 were consistent across segments, totaling $8.6 billion[62]. - Earnings for the first nine months of 2024 were $26.1 billion, a decrease of 8.1% compared to $28.4 billion in the same period of 2023[70]. - Total upstream earnings for the third quarter of 2024 were $6.158 billion, slightly up from $6.125 billion in the same quarter of 2023[71]. - Energy Products total earnings for the third quarter of 2024 were $1.309 billion, down from $2.442 billion in the same quarter of 2023[106]. - Total earnings for Chemical Products in the three months ended September 30, 2024, reached $893 million, significantly up from $249 million in the same period of 2023, representing a 258.6% increase[112]. - Specialty Products earnings for the three months ended September 30, 2024, totaled $794 million, an increase of 28.3% compared to $619 million in the same period of 2023[118]. Capital Expenditures - Capital and exploration expenditures increased to $7.2 billion, up $1.1 billion from the third quarter of 2023[69]. - Capital and exploration expenditures increased to $20.0 billion, up $1.5 billion from the first nine months of 2023[70]. - The Corporation anticipates an investment level of approximately $28 billion in 2024, subject to project progress and property acquisitions[132]. Production and Operations - Worldwide net production of crude oil and natural gas liquids increased to 3.187 million barrels per day in Q3 2024, up from 2.397 million barrels per day in Q3 2023[101]. - Year-to-date 2024 oil-equivalent production was 4.2 million barrels per day, an increase of 534 thousand barrels per day from 2023, driven by record Permian production[105]. - Worldwide refinery throughput for the three months ended September 30, 2024, was 3,985 thousand barrels daily, a decrease of 5.5% from 4,215 thousand barrels daily in the same period of 2023[110]. Costs and Savings - Structural Cost Savings totaled $11.3 billion relative to 2019 levels, with an additional $1.6 billion achieved in the first nine months of 2024[66]. - Total Adjusted Operating Costs (non-GAAP) for the nine months ended September 30, 2024, were $60.8 billion, compared to $55.7 billion for the same period in 2023[67]. - Corporate and Financing expenses for the third quarter of 2024 were $544 million, an increase of $179 million compared to the same period in 2023, primarily due to higher financing costs[125]. Shareholder Returns - The Corporation distributed $12.3 billion in dividends and repurchased $13.8 billion of common stock[70]. - The Corporation distributed a total of $12.3 billion to shareholders in the first nine months of 2024 through dividends[127]. Taxation - Total taxes for Q3 2024 were $11.7 billion, a decrease of $1.1 billion from 2023, with income tax expense at $4.1 billion compared to $4.4 billion in the prior year[130]. - The effective income tax rate for Q3 2024 was 35%, up from 34% in the prior year, primarily due to a change in the mix of results in jurisdictions with varying tax rates[130]. - Total other taxes and duties decreased by $0.9 billion to $7.6 billion in Q3 2024 compared to the previous year[130]. Market Conditions - Industry refining margins declined and moved to the low end of the 10-year range, while chemical margins improved slightly but remained below the 10-year range due to oversupply in Asia[57]. - Natural gas prices strengthened during the quarter, supported by summer demand in North America and supply concerns in Europe[57]. - Weaker industry refining margins decreased Energy Products earnings by $5.150 billion year-to-date 2024 compared to 2023[108]. - Higher volumes from the Beaumont refinery expansion increased Energy Products earnings by $140 million year-to-date 2024[108]. Strategic Initiatives - The company completed the acquisition of Pioneer Natural Resources on May 3, 2024, enhancing its exploration and production capabilities[58]. - The Corporation has long-term purchase agreements with an estimated total obligation of approximately $3.0 billion and assumed take-or-pay obligations of $4.9 billion related to the Pioneer acquisition[128]. - The Corporation's plans include reaching Scope 1 and Scope 2 net zero from operated assets by 2050, with interim targets for specific assets by 2030 and 2035[134]. - The Corporation's capital investment guidance in lower-emission investments is based on its corporate plan, with actual investment levels subject to public policy support and available opportunities[136].