Exxon Mobil (XOM) ended the recent trading session at $113.41, demonstrating a -1.61% swing from the preceding day's closing price. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow lost 0.14%, while the tech-heavy Nasdaq lost 0.06%.The the stock of oil and natural gas company has risen by 1.07% in the past month, leading the Oils-Energy sector's loss of 7.84% and undershooting the S&P 500's gain of 1.96%.Investors will be eagerly watching for the performance of Exxon Mobil in its u ...

ExxonMobil has a rock-solid dividend track record, and its latest growth move could mean bigger dividends ahead.With a market capitalization of over $500 billion, ExxonMobil (XOM -0.69%) is one of the world's largest oil and gas companies and the largest publicly traded energy stock in the U.S. ExxonMobil has grown leaps and bounds in the 140 years or so of its existence, and the stock has been a favorite among energy investors for its dividend stability and growth -- the integrated oil supermajor increased ...

ExxonMobil Corporation (XOM) , a U.S. energy major, has shut down its 251,800-barrel-per-day refinery in Joliet, IL, following a power outage caused by a severe storm, per a Reuters report. The outage led to a flaring incident on Monday night, adding to the operational challenges faced by the refinery.The storm, which brought heavy wind and rain to the area, resulted in widespread power outages, affecting thousands, according to National Weather Service. The Joliet refinery, a significant player in ExxonMob ...

z1bXOM stock: pullback offers an entry point I last covered Exxon Mobil (NYSE:XOM) with a bull thesis a little more than three months ago as you can see from the chart below. To wit, the article was entitled "XOM: Oil Price Could Return To $115 A Barrel" and was published on Seeking Alpha on April 9, 2024. The article focused on the potential catalysts that could drive oil prices up and the subsequent impact on XOM’s EPS. More specifically, the article argued that: … there is a chance that oil prices ...

Exxon Mobil Corporation (XOM) has proposed a development plan to the government of Guyana for its seventh oil project in the country. The discovery named Hammerhead is part of the prolific Starbroek Block offshore Guyana. The development of the Hammerhead discovery involves drilling up to 30 wells, per ExxonMobil’s development plan.The Hammerhead project is estimated to come online by 2029, pending government approval. The oil and gas giant expects daily production from the Hammerhead field to lie in the ra ...

HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) -- ExxonMobil today announced the launch of its Enable™ 1617 performance polyethylene (PE) grade. Ideal for thin-gauge hand wrap applications, the new resin is designed to help provide high tenacity and consistent extrusion, as well as help enable the incorporation of high loading levels of post-consumer recycled (PCR) content. Key Potential Benefits Include: Incorporation of PCR content: Can provide the performance boost to help enable the incorporation of high level ...

Core Insights - Exxon Mobil Corporation (XOM) is facing challenges in its second-quarter 2024 earnings due to soft natural gas prices and diminished refining margins, which are expected to negatively impact performance [1][8] Group 1: Business Operations - ExxonMobil has strengthened its presence in the Permian Basin by acquiring Pioneer Natural Resources Company, resulting in a combined 1.4 million net acres and an estimated 16 billion barrels of oil equivalent resource [2] - The company anticipates that its production from the Permian will more than double to 1.3 million barrels of oil equivalent per day (MMBoE/D) based on 2023 volumes, with expectations to reach 2 MMBoE/D by 2027 [2] - ExxonMobil has a robust project pipeline in offshore Guyana, which, along with its Permian operations, is expected to generate significant cash flows due to low production costs [3] Group 2: Financial Position - ExxonMobil's integrated business model provides protection against low oil prices, as it has extensive operations in refining and chemicals in addition to exploration and production [4] - The company maintains a debt-to-capitalization ratio of 15.9%, significantly lower than the industry average of 24.2%, allowing it to enhance its financial position and repay pandemic-related debt [4] - In comparison, Chevron Corporation has a debt-to-capitalization ratio of 11.9%, while BP plc has a higher ratio of 38.4% [5] Group 3: Market Expansion - ExxonMobil is entering the lithium market, crucial for electric vehicle batteries, and has signed an agreement with SK On to supply up to 100,000 metric tons of lithium from its upcoming Arkansas project [6] Group 4: Stock Performance and Outlook - Despite current challenges, ExxonMobil's long-term outlook remains promising, with a Zacks Rank of 3 (Hold) and a history of dividend payments growing at an average annual rate of 5.8% over the past 41 years [7] - Year-to-date, ExxonMobil's stock has appreciated by 12.9%, outperforming the industry average increase of 7.7% [7] - Current valuations indicate that shares are somewhat expensive, trading at a trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization of 6.15X, above the five-year median of 6.12X and the industry average of 3.95X [8]

Group 1: Exxon Mobil Corporation (XOM) - Exxon Mobil Corporation expects a sequential decline in second-quarter earnings for 2024 due to soft natural gas prices, projecting a decrease of $300 million to $700 million [1] - The company anticipates that favorable crude pricing in the June quarter will offset the negative impact from natural gas prices [1] - Unfavorable changes in industry margins are expected to affect earnings from refining activities by $1.1 billion to $1.5 billion, excluding the impact of the acquisition of Pioneer Natural Resources [1] - The acquisition of Pioneer Natural Resources is projected to result in production of 500-550 thousand barrels of oil equivalent per day, impacting earnings from May 3 to June 30 [2] - The Zacks Consensus Estimate for XOM's earnings per share in the second quarter is $2.34, with a current Zacks Rank of 3 (Hold) [2] Group 2: Competitors and Industry Insights - Matador Resources Company has entered into a $1.91 billion agreement to expand its footprint in the Delaware Basin, expected to close in late third quarter of 2024, with projected production exceeding 180,000 barrels of oil equivalent per day [3] - Chevron Corporation generates most of its earnings from upstream operations and has a strong foothold in the Permian Basin, benefiting from minimum royalty payments and favorable cash flows [4] - SM Energy has agreed to acquire 80% of XCL Resources' oil and gas assets in the Uinta Basin for $2.04 billion, expected to close in September, which will enhance its inventory and oil production [4]

Company Performance - Exxon Mobil (XOM) closed at $112.18, reflecting a -1.05% change from the previous day, underperforming the S&P 500 which gained 0.1% [1] - Over the past month, Exxon Mobil's shares increased by 0.55%, while the Oils-Energy sector rose by 0.75% and the S&P 500 increased by 4.08% [1] - The upcoming earnings per share (EPS) is projected at $2.34, indicating a 20.62% increase year-over-year, with revenue expected to reach $91.69 billion, up 10.59% from the previous year [1] Fiscal Year Estimates - For the entire fiscal year, the Zacks Consensus Estimates project earnings of $9.18 per share and revenue of $360.44 billion, representing changes of -3.57% and +4.6% from the prior year, respectively [2] - Recent modifications to analyst estimates reflect evolving short-term business trends, with positive revisions indicating analyst optimism regarding the company's profitability [2] Zacks Rank and Valuation - Exxon Mobil currently holds a Zacks Rank of 3 (Hold), with a recent 4.06% decline in the Zacks Consensus EPS estimate [3] - The company has a Forward P/E ratio of 12.35, which is a premium compared to the industry average of 7.91 [3] - Exxon Mobil's PEG ratio stands at 4.12, significantly higher than the industry average PEG ratio of 1.96 [3] Industry Overview - The Oil and Gas - Integrated - International industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 66, placing it in the top 27% of over 250 industries [4] - The Zacks Industry Rank evaluates the strength of industry groups based on the average Zacks Rank of individual stocks, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [4]

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