Exxon Mobil Corporation (XOM) is a leading integrated energy player. Over the past seven days, the firm, carrying a Zacks Rank #3 (Hold), has witnessed upward earnings estimate revisions for 2024 and 2025.What's Favoring the Stock?The price of West Texas Intermediate crude is currently trading at more than the $85-per-barrel mark. The favorable trajectory in oil prices is a boon for ExxonMobil’s upstream operations. In the Permian Basin – the most prolific oil and gas resource in the United States – and off ...

Exxon Mobil Corporation (XOM) has indicated a decline in its first-quarter operating results for 2024.The announcement comes after a period of remarkable profitability, with the company, which is a leading force in the global energy sector, achieving record-breaking profits of $11.4 billion in the first quarter of 2023.However, the latest data suggests a downturn, with operating profits expected to be $6.65 billion, suggesting a decline from the $11.6 billion reported in the first quarter of 2023 and the $7 ...

ExxonMobil could hit a half-trillion-dollar market cap in 2024.ExxonMobil (XOM 1.96%) and the broader energy sector have been on a tear the last month, crushing the S&P 500's 3.6% gain. A big part of the run-up is due to rising crude oil prices.Prices per Brent crude oil barrel (the international benchmark) rose around 11% in the first three months of the year -- a big move for what was already a decently high oil price.Here's why ExxonMobil is well positioned to capitalize on higher oil prices and why the ...

In the latest market close, Exxon Mobil (XOM) reached $119.28, with a +1.96% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.72%. Meanwhile, the Dow lost 1%, and the Nasdaq, a tech-heavy index, lost 0.95%.Prior to today's trading, shares of the oil and natural gas company had gained 12.1% over the past month. This has outpaced the Oils-Energy sector's gain of 6.92% and the S&P 500's gain of 2.16% in that time.Investors will be eagerly watching fo ...

Exxon Mobil Corporation (XOM) and China National Offshore Oil Corporation (“CNOOC”) have merged their arbitration claims against Chevron Corporation’s (CVX) proposed takeover of Hess Corporation’s (HES) stake in the most prolific oil block offshore Guyana. The consolidation of their arbitration claims, approved after a recent application, signals a significant escalation in the battle for control over the lucrative oil reserves in the region.According to a letter from Hess to its shareholders, included in a ...

Energy prices are volatile, swinging from highs to lows, often in swift and dramatic fashion. Right now, oil is on the rise, leading investors to bid up the stock prices of companies like ExxonMobil (XOM 1.10%).Have you missed out? That depends on a lot of factors, but it might not be the best way to think about this energy leader. Here's what you need to know.The best time to buy Exxon is the hardest time to buy itOil and natural gas prices, though impossible to predict, often track along with the global e ...

Exxon Mobil Corporation (XOM) is progressing ahead of its schedule in expanding its liquefied natural gas (LNG) portfolio, per a Reuters report.The company is aiming to double its capacity to 40 million tons per annum (Mtpa) by 2030, up from the current production of nearly 30 Mtpa. This growth trajectory marks a significant step from the company's 2020 announcement, reflecting its strategic shift toward self-reliance in LNG trading.Unlike its competitors, such as TotalEnergies (TTE) and Shell plc (SHEL) , ...

Exxon Mobil Corporation (XOM) , alongside TotalEnergies (TTE) , is entering discussions with Suriname’s state-owned oil company, Staatsolie, to potentially develop natural gas fields along the maritime borders shared with Guyana.To the west of Suriname, ExxonMobil has already made significant progress in Guyana, leading a consortium that has elevated the country’s oil production to 650,000 barrels per day. This consortium is exploring the development of gas fields in Guyana, intending to enhance the country ...

Between Feb. 19, 2008, and Aug. 31, 2020, the Dow Jones Industrial Average contained both leading U.S. oil majors -- ExxonMobil (XOM 0.70%) and Chevron (CVX 0.78%). But after a 92-year tenure in the Dow, ExxonMobil was replaced by Salesforce in 2020, leaving Chevron as the only energy stock.The move made sense at the time. But ExxonMobil has made impressive improvements to its business and is built to last. Here's why the dividend stock deserves to be added back to the Dow. 1. Financial healthThe simplest r ...

Exxon Mobil Corporation (XOM) has made a groundbreaking announcement, revealing a significant oil and gas discovery in the prolific Stabroek block offshore Guyana.The new find, dubbed Bluefin, marks the company's first announced discovery in the South American country for 2024, promising to further boost its oil production capabilities.Located in the southeastern part of the Stabroek block, the Bluefin well was drilled in 4,244 feet of water by the Stena Drillmax drillship. It encountered approximately 197 ...