XOM - Exxon Mobil Corporation

NYSE - NYSE Delayed Price. Currency in USD
81.79
+0.47 (+0.58%)
At close: 4:01PM EDT

81.30 -0.49 (-0.60%)
Pre-Market: 8:26AM EDT

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Previous Close81.32
Open80.81
Bid80.86 x 1400
Ask81.29 x 800
Day's Range80.80 - 81.89
52 Week Range64.65 - 87.36
Volume10,116,500
Avg. Volume13,744,023
Market Cap346.364B
Beta (3Y Monthly)1.04
PE Ratio (TTM)16.76
EPS (TTM)4.88
Earnings DateApr 25, 2019 - Apr 29, 2019
Forward Dividend & Yield3.28 (4.03%)
Ex-Dividend Date2019-02-08
1y Target Est83.99
Trade prices are not sourced from all markets
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  • There’s No Middle Ground for Exxon Mobil Stock
    InvestorPlace18 hours ago

    There’s No Middle Ground for Exxon Mobil Stock

    Exxon Mobil (NYSE:XOM) may have put a positive spin on its expenditure plans at last week's investor day. But with oil prices weakening and its outlook unclear, Cowen analyst Jason Gabelman opted to downgrade XOM stock anyway.Source: Mike Mozart via Flickr (Modified)XOM says it will spend $30 billion on drilling and improvement projects in 2019. This is up $4 billion versus last year's capital expenditures.Moreover, management expects that figure to rise to between $33 billion and $35 billion in 2020. It will further remain in that range through 2025.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 15 Stocks Sitting on Huge Piles of Cash The planned spending increases contrast, at least partially, with the intentions of Exxon's rivals and those of the broader industry. Oil companies are becoming more cautious about their spending for understandable reasons. Since their mid-2018 highs of around $70, crude prices dropped to their current level of approximately $60.Gabelman concedes that Exxon's aggressive capital-expenditure budget may bear fruit for XOM, which operates in a highly cyclical, but slow-moving, industry. He's concerned, however, that investors may only have a short-term view of those costs.Eventually, they could put downward pressure on XOM stock that lasts for the foreseeable future. XOM Stock Is All About the PermianAlthough Exxon Mobil operates all over the world, one area represents the company's key money-maker: West Texas' Permian Basin. XOM has operated there for years, but management believes it underestimated the region's potential. Prior forecasts of 600,000 barrels of oil equivalent per day have been ramped up to more than one million boe per day by 2024, if the company's investments pan out as planned.That growth of the Permian should also boost Exxon Mobil's overall profitability, lifting XOM stock in the process. Excluding tax-reform benefits, the oil giant anticipates that its bottom line will increase by $4 billion this year. This possible figure contrasts favorably to last year's $1.1 billion increase.By 2025, Exxon Mobil believes its profits will be 140% higher than 2017's total earnings. The production of its Permian Basin properties, which is continually rising, should be the biggest driver of that growth.It's the increasing production from the Permian, in fact, that serves as the foundation of Exxon's optimism.This logic seemingly contradicts an environment that doesn't exactly seem great for XOM stock. However, Exxon Mobil's senior vice president Neil Chapman explained at a recent shareholder meeting that ownership of contiguous properties "enables you to develop resources on a very large and very efficient scale, and it allows you (to) apply the Exxon Mobil machine."CEO Darren Woods described the company's unusual current aggressiveness as "leaning in as our competitors are leaning back." Woods believes their Permian assets will generate double-digit returns, even if oil prices fall as low as $35 per barrel.Underscoring that idea is his decision to sell other assets, even as the company doubles down on the Permian Basin. The decision by XOM's rival, Chevron (NYSE:CVX), to also aggressively invest in the region provides further evidence of its potential.Not all observers are as keen on the strategy, though. Tough SellDarren Woods isn't necessarily wrong to be greedy when others are fearful. But the current and prospective owners of XOM stock may not be as enthused about the strategy.The company needs to "convince the market that higher spending today translates to higher returns to shareholders over time," explained RBC Europe Limited analyst Biraj Borkhataria following the unveiling of Exxon's long-range plans and outlook. But that's easier said than done.Cowen's Gabelman agrees, noting "XOM's counter-cyclical investment decision may look prescient in future years, but we do not believe the investor community is willing to place that same bet today and are downgrading the stock as a result."Cowen lowered its rating on XOM stock to a "market perform," Simultaneously, they droped its price target on Exxon Mobil stock from $100 to $75.Regardless, Exxon may have no choice but to invest a great deal of money. CFRA analyst Stewart Glickman, discussing the company's capital spending plans, said, "Exxon is so big it has to replace a lot of barrels every year. They're probably thinking with a longer-term focus than most."Glickman also pointed out another potential but unspoken concern among the owners of XOM stock: other drillers have been able to increase their production despite cutting their spending. Bottom Line on XOM StockThe scenario, for all intents and purposes, forces investors to decide whether XOM stock is a long-term holding, or too subject to short-term ebbs and flows to be anything more than a swing trade.For investors who can afford some patience, there's little doubt that the intended expenditures will bear fruit. Meanwhile, the XOM stock price is up more than 23% from its December lows. Additionally, it's trading five dollars higher than Gabelman's new target price. At these levels, XOM looks ripe for some profit-taking.Nobody wants to buy Exxon Mobil stock right now, but everyone will have a tough choice to make when shares drop. There's little middle ground here, as XOM probably won't be a trade and an investment at the same time.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 5 of the Best Stocks to Buy Under $10 * 7 Retail Stocks Winning in 2019 and Beyond * The 10 Best Stocks to Buy for the Bull Market's Anniversary Compare Brokers The post There's No Middle Ground for Exxon Mobil Stock appeared first on InvestorPlace.

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  • Exxon Mobil (XOM) Gains As Market Dips: What You Should Know
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  • Oil majors rush to dominate U.S. shale as independents scale back
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    In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles. The sprawling site reflects the massive commitment to the Permian Basin by oil majors, who have spent an estimated $10 billion buying acreage in the top U.S. shale field since the beginning of 2017, according to research firm Drillinginfo Inc. The rising investment also reflects a recognition that Exxon, Chevron, Royal Dutch Shell and BP Plc largely missed out on the first phase of the Permian shale bonanza while more nimble independent producers, who pioneered shale drilling technology, leased Permian acreage on the cheap.

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  • Oil Prices Are Running up for the Last Big Oil Boom
    InvestorPlace2 days ago

    Oil Prices Are Running up for the Last Big Oil Boom

    Just in time for summer driving season, oil prices are moving up again.Source: Shutterstock Brent North Sea crude, the global standard, is selling for over $67 per barrel. West Texas Intermediate (WTI), the primary U.S. grade, is over $59. At Christmas Brent was at $50, WTI at $42.What's driving prices higher is a curb in Saudi exports, the complete collapse of Venezuela, and lower short-term forecasts for U.S. shale production.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnalysts now say oil majors like Exxon Mobil (NYSE:XOM), which I wrote about last month, are now in position to become the new OPEC. They are taking control of Permian production from independents and driving the global price.Maybe they can become the new OPEC. But all OPECs have a sell-by date. * Top 7 Service Sector Stocks That Will Pay You to Own Them The Second Fracking Boom and Oil PricesI've written many times this decade about how the 2010s are a reversal of the 1970s, when OPEC took command of the market, backed by U.S. arms.This time it's U.S. technology, specifically fracking, pioneered by an oilman I interviewed back in 1980, the late George Mitchell, which is taking over. Fracking first produced a natural gas glut in the Appalachians. Now it's producing an oil glut in West Texas, where conventional wells that just sucked oil from the ground had been depleting for decades.You can find the story on the Energy Information Agency Web site. New wells are producing more fracked oil and gas every year, and there are more of them, while "legacy" production continues to fall. U.S. oil production has more than doubled in this decade and continued to rise even after prices busted in 2014.The price bust destroyed small producers like Sanchez Energy (NYSE:SN), which grew on debt when times were flush but now faces de-listing. Oil majors that husbanded capital during the boom, and through the early years of the bust, like Chevron (NYSE:CVX), picked up some bargains. Today's Permian producers can make money at $26 per barrel, half what the product is going for.The only limit seems to be pipeline infrastructure. Kinder Morgan (NYSE:KMI) is getting pipelines out as fast as it can but in the near term supply is constrained. Natural gas is being flared, or being burned off at the wellhead, at a rate not seen since the height of the boom. Alternative Energy and Oil PricesThe latest oil boom comes 40 years after the Iranian revolution and the second oil shock.But there's growing competition for oil and gas from renewable energy.Solar energy can now be produced at 13-17 cents per kilowatt hour, without federal subsidies. Wind power is even cheaper. Spot prices for electricity in Texas can now turn negative when the weather is right.Storage has been the limit for renewables, but breakthroughs in storage technology such as fuel cells are being announced every day.The cheapest renewable energy remains efficiency. Thanks to higher mileage cars, LED light bulbs, better appliances, and intelligence in devices using energy, U.S. electricity demand is only now breaking through its 2007 peak .The thumb holding prices down gets bigger every year. The Sun shines, the wind blows, and we live on a molten rock. There is no energy shortage. The Bottom Line on Oil PricesSince the start of 2019 shares in Exxon Mobil are up 18%, and those of Chevron are up 14%. Given the recent good news from the oil patch these shares can continue to rise through the summer.But the end of the boom is already in sight. Venezuela will come back online. The Saudis' ability to limit production is limited. Iran wants back into the market. U.S. reserves have doubled, thanks to fracking. New oil discoveries are being made around the world, even in areas where demand is rising, like India.More important is that renewables, especially efficiency, are going to keep working their magic. The only thing keeping oil and gas competitive today is 100 years of infrastructure. That can be replaced in the next 10.That's why the gains in these stocks are as small as they are. Oil is a commodity for which demand is slowly falling, for which supply is starting to look unlimited.That's not a good long-term outlook for prices.Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now at the Amazon Kindle store. Write him at danablankenhorn@gmail.com or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Oil Prices Are Running up for the Last Big Oil Boom appeared first on InvestorPlace.

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  • Business Wire3 days ago

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