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].

I'm a full time value investor and writer who enjoys using classical value ratios to pick my portfolio. Long-term focused on low P/B, P/FCF, Owner Earnings discounting, PEG ratios, the Graham Number and an occasional net-net hunter. I also believe tracking earnings growth versus price appreciation is an essential element to any quality evaluation.I advocate self-indexing primarily using the Dow Jones Industrial Average as my index of choice combined with Joel Greenblatt's Magic Formula. This can help with t ...

ExxonMobil delivered industry-leading results and shareholder returns in the third quarter. ExxonMobil (XOM -1.57%) is the undisputed leader in the oil patch. That was abundantly clear when taking a look at its recent third-quarter earnings report. The oil giant delivered industry-leading earnings and cash returns. Here's a closer look at the numbers showing that ExxonMobil is the top oil stock. Drilling down into ExxonMobil's third-quarter results ExxonMobil is a well-oiled machine these days. The oil gian ...

Exxon Mobil Corporation (XOM) reported third-quarter 2024 earnings per share of $1.92 (excluding identified items), which beat the Zacks Consensus Estimate of $1.91. The bottom line, however, declined from the year-ago level of $2.27.Total quarterly revenues of $90 billion missed the Zacks Consensus Estimate of $93.5 billion. The top line also decreased from the year-ago figure of $90.8 billion.Better-than-expected quarterly earnings were primarily driven by record-high liquids production volumes in the ups ...

Financial Data and Key Metrics Changes - ExxonMobil reported earnings of $8.6 billion for Q3 2024, marking one of the best third quarters in the past decade [5] - Year-to-date earnings in 2024 are approximately double compared to the same period in 2019 on a constant margin basis [5] - The company achieved a total shareholder return (TSR) of 20% in the first nine months of 2024, leading all International Oil Companies (IOCs) [10] Business Line Data and Key Metrics Changes - The Upstream business grew production to 4.6 million oil-equivalent barrels per day, a 24% increase year-over-year [11] - The Energy Products business reduced costs by $5 billion compared to 2019, with a 24% reduction in turnaround costs for the first half of 2024 [6][10] - The refining business has seen improved product yield and significant structural cost savings [6] Market Data and Key Metrics Changes - In Q3, while liquid prices and refining margins decreased, gas realizations, chemical margins, and specialty margins increased [7] - Guyana's GDP grew by 50% in the first half of 2024, indicating a strong economic environment for ExxonMobil's operations there [13] Company Strategy and Development Direction - ExxonMobil is focused on reducing costs, higher-return investments, and selective divestments to improve profitability [5] - The company is committed to sustainable, competitive, and growing dividends, having increased its annual dividend for 42 consecutive years [9] - The integration of Pioneer is expected to enhance production efficiency and reduce environmental impact through advanced drilling techniques [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of the Joliet Refinery after a tornado, highlighting the team's effective response [8] - The company anticipates strong demand signals for LNG projects and is optimistic about the future of its LNG business [37] - Management acknowledged the challenges in the chemical market but remains confident in the long-term value of the China 1 project [66] Other Important Information - ExxonMobil is advancing its low carbon solutions business, including a significant hydrogen production facility and carbon capture initiatives [15][19] - The company is exploring new technologies and materials, such as Proxxima thermoset resin, which has a projected market potential of $30 billion by 2030 [20][21] Q&A Session Summary Question: Trends in the downstream business - Management discussed the integration of the downstream business into Product Solutions, emphasizing optimization across the value chain and cost-cutting measures [27][29] Question: Updates on LNG projects - Management provided updates on the Golden Pass venture, indicating a six-month delay, and expressed confidence in the collaboration with QatarEnergy on North Field Expansion [35][37] Question: Guyana production capacity - Management explained the timing of investments and infill drilling efforts to maintain capacity utilization in Guyana [41][43] Question: Balance sheet and capital return strategy - Management emphasized the importance of a strong balance sheet for flexibility during commodity cycles and the commitment to rewarding shareholders [46][47] Question: Permian efficiencies and trends - Management highlighted the synergies from the Pioneer acquisition and the improvements in drilling performance and cost efficiencies [52][54] Question: Proxxima rebar market potential - Management clarified that the $30 billion market potential for Proxxima is based on targeted applications where the product's value is strongest [58][60] Question: Medium-term outlook for Asia Chemicals market - Management expressed confidence in the China 1 project, anticipating it will be competitive even in challenging market conditions [64][66] Question: Inorganic opportunities and Namibia withdrawal - Management discussed the integrated approach to evaluating resources and emphasized the need for commercial viability in potential acquisitions [70][72] Question: CapEx outlook for 2025 - Management indicated that the CapEx plans will be based on a holistic view of the combined assets post-Pioneer acquisition [76][78] Question: AI and technology in cost savings - Management acknowledged the role of AI in driving efficiency and effectiveness, with expectations for continued progress in technology applications [94][98]