ExxonMobil Corporation (XOM) , a U.S. energy major, has initiated the restart of several units at its Joliet, IL, refinery following a three-week outage caused by a power failure. The 251,800-barrel-per-day (bpd) facility, which was shut down in mid-July due to a storm-induced power outage, produces approximately 9 million gallons of gasoline and diesel daily.During the outage, 16 units, including a vacuum distillation unit and a catalytic cracker unit, were adversely impacted. According to media reports, t ...

Boost your passive income stream with these oil, gas, and renewable energy stocks.ExxonMobil (XOM 0.13%), the largest U.S.-based energy stock by market cap, has been a reliable dividend stock for decades. Despite the volatility of oil and natural gas prices, Exxon has paid and raised its dividend for 42 consecutive years.While Exxon is knocking on the door of an all-time high, other companies in the oil and gas and renewable energy industries have seen their stock prices tumble. Here's why Chevron (CVX 0.02 ...

ExxonMobil is preparing for whatever the future might bring.ExxonMobil (XOM 0.81%) is a firm believer that oil will remain vital to fueling the economy for decades to come. This view drives it to continue investing in oil projects. However, the company's focus is on the bigger energy picture, which is much broader than oil. It aims to participate in the overall growth in energy demand, no matter which direction the world ends up heading. Here's a closer look at ExxonMobil's long-term outlook for the energy ...

Exxon Mobil TodayXOMExxon Mobil$114.77 -2.11 (-1.81%) 52-Week Range$95.77▼$123.75Dividend Yield3.31%P/E Ratio14.06Price Target$134.78Add to WatchlistExxonMobil’s NYSE: XOM price action is not immune to the broad-market selloff, but operational quality, growth, and capital return point to a buy-the-dip opportunity. Exxon’s operational quality is improving due to efficiency efforts, modernization of its operations, and the impact of the Pioneer acquisition, which is not fully felt. The Pioneer acquisition clo ...

Financial Performance - In Q2 2024, ExxonMobil reported total earnings of $9.24 billion, with upstream earnings of $2.43 billion in the U.S. and $4.64 billion internationally[58]. - ExxonMobil's Q2 2024 earnings were $9.2 billion, or $2.14 per share, up from $7.9 billion a year earlier, driven by improved realizations and increased volumes[62]. - Upstream earnings for Q2 2024 totaled $7.1 billion, compared to $4.6 billion in Q2 2023, with significant contributions from both U.S. and non-U.S. operations[63]. - Energy Products earnings for Q2 2024 were $946 million, down from $2.3 billion in Q2 2023, primarily due to weaker industry refining margins[77]. - Net income for the first six months of 2024 was $18.1 billion, a decrease of $1.9 billion from the prior year[99]. Cost Management - The company achieved cumulative structural cost savings of $10.7 billion compared to 2019 levels, including an additional $1.0 billion in the first half of 2024[60]. - Total cash operating expenses excluding energy and production taxes were $39.5 billion in 2023, reflecting a decrease of $4.5 billion compared to 2019[61]. - ExxonMobil's total adjusted operating costs were $79.4 billion in 2023, with a slight increase from $78.8 billion in 2019[61]. - Structural cost savings contributed an increase of $210 million to earnings in Q2 2024[66]. - Corporate and Financing expenses decreased to $310 million in Q2 2024, down from $506 million in Q2 2023, a reduction of 38.7%[96]. Production and Operations - Record production from Guyana and growth in heritage Permian contributed to a 750 thousand oil-equivalent barrels per day increase in Q2 2024 production compared to Q2 2023[75]. - Worldwide net production of crude oil and natural gas liquids reached 2.98 million barrels per day in Q2 2024, up from 2.35 million barrels per day in Q2 2023[71]. - Refinery throughput in the United States decreased to 1,746 thousand barrels daily in Q2 2024 from 1,944 thousand barrels daily in Q2 2023, a decline of approximately 10.2%[82]. - Capital and exploration expenditures for Q2 2024 were $7.0 billion, an increase of $0.9 billion from Q2 2023[62]. - Capital and exploration expenditures in Q2 2024 were $7.0 billion, up 14% from Q2 2023[103]. Strategic Initiatives - The acquisition of Pioneer Natural Resources on May 3, 2024, is expected to enhance ExxonMobil's position in the oil and gas exploration sector[55]. - The company is focusing on high-value products, including performance chemicals and lower-emission fuels, to drive future growth[56]. - Future projects include the Fawley Hydrofiner and China Chemical Complex, which are expected to contribute to growth once completed[56]. - The company is evaluating additional advanced recycling projects worldwide to enhance sustainability efforts[56]. Sales and Market Trends - Chemical margins showed slight improvement in Q2 2024 but remained below the 10-year range due to capacity additions outpacing demand growth[54]. - Chemical Products earnings in the United States increased to $526 million in Q2 2024, up from $486 million in Q2 2023, representing an increase of 8.2%[84]. - Worldwide Chemical Products sales reached 4,873 thousand metric tons in Q2 2024, slightly up from 4,849 thousand metric tons in Q2 2023, an increase of 0.5%[88]. - Specialty Products earnings in the United States rose to $447 million in Q2 2024, compared to $373 million in Q2 2023, marking a growth of 19.9%[90]. - Worldwide Energy Products sales totaled 5,320 thousand barrels daily in Q2 2024, down from 5,658 thousand barrels daily in Q2 2023, a decrease of 6.0%[82]. Cash Flow and Financing - Cash flow from operations and asset sales in Q2 2024 was $11.5 billion, an increase of $0.8 billion from Q2 2023, primarily due to higher earnings[99]. - Net cash provided by operating activities for the first six months of 2024 totaled $25.2 billion, which is $0.5 billion lower than the same period in 2023[99]. - Net cash used in financing activities was $20.5 billion in the first six months of 2024, compared to $16.7 billion in the prior year[99]. - Total debt at the end of Q2 2024 was $43.2 billion, an increase from $41.6 billion at year-end 2023[99]. - The Corporation distributed $8.1 billion in dividends and repurchased $8.3 billion of common stock in the first half of 2024[62]. Taxation and Regulatory - Total taxes for Q2 2024 were $11.6 billion, a decrease of $0.2 billion from 2023, with income tax expense at $4.1 billion[102]. - The effective income tax rate for the first six months of 2024 was 35%, up from 34% in the prior year period[102]. Market Sensitivity - A $1 per barrel change in the weighted-average realized price of oil would have approximately a $650 million annual after-tax effect on Upstream consolidated plus equity company earnings[109]. - A $0.10 per thousand cubic feet change in the worldwide average gas realization would have approximately a $155 million annual after-tax effect on Upstream consolidated plus equity company earnings[109]. - Crude oil, natural gas, petroleum product, and chemical prices fluctuate in response to changing market forces[109]. - Changes in benchmark prices for crude oil and natural gas provide broad indicators of changes in earnings experienced in any particular period[109].

ExxonMobil is the undisputed leader in big oil.ExxonMobil (XOM -0.06%) is the 800-pound gorilla in the oil patch. The company simply dominates its peers. That was evident in its industry-leading second-quarter results.Here's a closer look at ExxonMobil's strong second-quarter performance and why its leadership should continue.Drilling down into Exxon's second-quarter reportExxonMobil delivered industry-leading second-quarter earnings of $9.2 billion. Exxon didn't just earn more money than its peers; it crus ...

Jeremy PolandExxon Mobil (NYSE:XOM) management went out of their way to define the ongoing transition to the future. That probably has a whole lot more importance than the current earnings release because it defines how management looks at the future to drive the company's expected earnings. It needs to be as flexible as possible and realistic. The previous article centered on profitability and gaining a competitive edge. Now the CEO, Darren Woods, is sharing his vision on maintaining that competitive ed ...

CHUNYIP WONG XOM stock: Q2 recap I last analyzed Exxon Mobil Corporation (NYSE:XOM) stock in mid-July. As you can see from the following screenshot, that article was titled "Exxon Mobil: Buy The Dip" and was published by Seeking Alpha on July 17, 2024. In that article, I argued for a Strong Buy rating based on the following two factors: Price divergence. XOM's stock price has diverged from the broader market since my last writing. The price divergence, combined with the new development in its business fu ...

Financial Data and Key Metrics Changes - ExxonMobil reported earnings of $9.2 billion for Q2 2024, marking the second-best second quarter results in the last decade [6] - The company expects to generate between $80 billion and $140 billion in cumulative surplus cash from 2024 to 2027, with the Pioneer acquisition enhancing this projection [7] Business Line Data and Key Metrics Changes - Production from the Permian Basin surged to 1.2 million barrels per day, including contributions from Pioneer [7] - Sales of high-return performance products in the product solutions segment rose 5% sequentially to a new record [7] Market Data and Key Metrics Changes - Oil demand is projected to hold steady at around 100 million barrels per day by 2050, while demand for renewables and natural gas is expected to grow significantly [11] - The company anticipates global energy demand to be 15% higher in 2050 compared to current levels [10] Company Strategy and Development Direction - ExxonMobil's strategy focuses on transitioning from high carbon to low carbon energy, emphasizing technologies such as hydrogen, biofuels, and carbon capture and storage [12] - The company is developing new market opportunities in Proxxima and carbon materials, targeting high-value products with significant profit potential [15][16] Management's Comments on Operating Environment and Future Outlook - Management noted that the integration of Pioneer is exceeding expectations, with significant synergies anticipated [10] - The company remains optimistic about the future, citing strong performance and the potential for growth across various scenarios, including a rapid energy transition [18] Other Important Information - ExxonMobil distributed $9.5 billion to shareholders in the quarter, with $4.3 billion allocated to dividends [8] - The company is focused on maintaining a disciplined approach to capital allocation, ensuring investments generate competitive returns [18] Q&A Session All Questions and Answers Question: Performance of Pioneer assets post-acquisition - Management indicated that Pioneer assets delivered record performance in Q2, with significant upside potential identified through collaboration [22][24] Question: Future production expectations from Guyana - Management expressed confidence in continued strong production rates from Guyana, attributing this to organizational focus and technological advancements [30][31] Question: Asset disposal strategy post-Pioneer acquisition - Management confirmed ongoing efforts to divest non-core assets, having achieved significant progress in cleaning up the portfolio [33][34] Question: Capital expenditure guidance and drivers - Management explained the increase in legacy CapEx to $25 billion is driven by attractive project opportunities and the addition of Pioneer [52][54] Question: Update on Golden Pass project timeline - Management confirmed a six-month delay for the Golden Pass project, now expecting first LNG in late 2025 [64] Question: Demand outlook for chemicals and market conditions - Management noted that chemical demand is returning to pre-pandemic growth rates, but supply-side challenges remain due to new capacity coming online [73][74]

Key TakeawaysExxonMobil reported better-than-expected second-quarter revenue and net income Friday thanks to higher production and oil prices.The company said it reached its highest production levels since the 1999 merger of Exxon and Mobil.The nearly $60 billion acquisition of Pioneer Natural Resources was also closed during Q2, contributing about $500 million to ExxonMobil's earnings during May and June. ExxonMobil (XOM) posted second-quarter results well above analysts' expectations Friday as record prod ...