XOM - Exxon Mobil Corporation
| Previous Close | 68.14 |
| Open | 67.87 |
| Bid | 67.62 x 3000 |
| Ask | 67.70 x 4000 |
| Day's Range | 67.61 - 68.15 |
| 52 Week Range | 64.65 - 83.75 |
| Volume | 12,900,165 |
| Avg. Volume | 10,950,832 |
| Market Cap | 286.065B |
| Beta (3Y Monthly) | 1.21 |
| PE Ratio (TTM) | 16.29 |
| EPS (TTM) | N/A |
| Earnings Date | N/A |
| Forward Dividend & Yield | 3.48 (5.10%) |
| Ex-Dividend Date | 2019-08-12 |
| 1y Target Est | N/A |
- MarketWatch
5 prominent U.S. companies are most at fault for the earnings recession
With the S&P 500 suffering an earnings recession for the first time since 2017, a few big names deserve most of the blame.
- Barrons.com
ConocoPhillips Stock Looks Cheap After a Selloff
The exploration and production company’s shares look cheap. That should change as investors discern its good prospects and shareholder-friendly blueprint for the future.
- Oilprice.com
Bearish Sentiment Takes Hold Of Oil Markets
Oil prices were down on Friday morning as worrying fundamentals and economic uncertainty boosted bearish sentiment further
- Bloomberg
Aramco IPO Hangs on Same Old Question: Is It Worth $2 Trillion?
(Bloomberg) -- The trouble with Saudi Aramco’s off-again, on-again initial public offering has always been the valuation. Ever since Crown Prince Mohammed bin Salman insisted the world’s largest oil producer was worth $2 trillion in 2016, he’s been determined to prove the skeptics wrong.His optimism met the reality of the global capital markets on Thursday, when the latest plan to float the state-owned company was delayed by at least a few weeks.At a meeting to give a green light for a deal, bankers made clear that international investors had little appetite to buy at a $2 trillion valuation, according to people familiar with the matter. To draw widespread interest Aramco’s value would need to be closer to $1.5 trillion, one of the people said, asking not to named discussing private conversations.What happens now will depend on how keen the crown prince is to attract foreign money to the Aramco offering and whether he’s finally willing to compromise on the valuation to get it.The outlook for what could be the largest IPO ever is likely to dominate Future Investment Initiative at the end of the month, Saudi Arabia’s annual showcase for the crown prince’s economic agenda that’s been dubbed Davos in the Desert. Many of the Wall Street banks hired to work on the IPO will send senior executives to Riyadh, where they’ll rub shoulders with the crown prince and the rest of the Saudi leadership as well as some of the world’s largest investors.Aramco said in a statement that the timing of the IPO will depend on market conditions and that it continues to engage with shareholders on activities related to the listing. One leading international money manager, who recently met Aramco executives in Saudi Arabia to discuss the IPO, said the main problem is officials in Riyadh believe Aramco should trade at a premium to other international oil companies. Many investors disagree and argue the risks of investing in Saudi Arabia merit a discount -- or at very best parity -- to the likes of Exxon Mobil Corp. and Royal Dutch Shell Plc.There’s little question Aramco merits a unique valuation. Drilling from some of the world’s largest fields under the barren Saudi desert, the company pumps more than twice the volume Exxon does and has some of the lowest production costs in the world.But there are also concerns for potential Aramco investors that don’t apply to Exxon, Shell and their ilk. Last month’s attack on the company’s largest crude processing plant at Abqaiq showed the political risk associated with the kingdom. There are also governance issues: the IPO would offer only a sliver of Aramco’s equity, leaving strategy in the hands of the Saudi state. As OPEC’s most important member, Saudi oil production would remain a political decision.One rough and ready way to value Aramco is to look at dividend yield. As part of the campaign to attract outside investors, Aramco pledged to soup up investor payments to $75 billion next year. At $2 trillion that means a dividend yield of 3.75%. That’s a lot less than the 5.1% currently offered by Exxon and the 6.6% Shell shareholders are getting.Bringing the dividend into line with Exxon would mean a valuation that’s much closer to $1.5 billion. If Saudi Arabia accepted that benchmark, it would still create the world’s most valuable company -- outstripping both Apple Inc. and Microsoft Corp. -- and a sale of 2% of the equity would yield $30 billion, more than the $25 billion Chinese e-commerce giant Alibaba Group Holding Ltd. raised in its 2014 IPO.If the crown prince doesn’t want to compromise on valuation, he has another option to get the deal done and raise money for the kingdom’s sovereign wealth fund. He can rely on Saudi money by securing big pledges from rich Saudi families -- some of whom had members held in the Ritz-Carlton hotel during 2017’s corruption clampdown -- pitching a retail offering to small investors and leaning on banks to lend to potential buyers.Even though it ditched plans for an international listing in New York or London, the Saudi government is still keen to get some foreign institutions to invest, one person involved in the deal said.To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Matthew Martin in Dubai at mmartin128@bloomberg.net;Javier Blas in London at jblas3@bloomberg.netTo contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Things You Should Know About the EIA Crude Inventory Report
The federal government's EIA report revealed that crude inventories rose by 9.3 million barrels, compared to the 4 million barrels increase that energy analysts had expected.
- Bloomberg
Saudi Aramco to Delay Launch of Its Initial Public Offering
(Bloomberg) -- Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman.The postponement, by at least a few weeks, will allow the array of Wall Street bankers advising Aramco to incorporate third-quarter results into their pre-IPO assessments of the company, according to people briefed on the situation. The banks are still struggling to meet the valuation the company is seeking, according to one of the people, who asked not to be named discussing private deliberations.Aramco, which pumps about 10% of the world’s crude oil, said in a statement that the timing of the IPO will depend on market conditions and that it continues to engage with shareholders on activities related to the listing.The sudden delay disrupts the carefully choreographed plan to launch the share sale on Oct. 20, followed a week later by intense promotion during the country’s big investment forum -- dubbed Davos in the Desert -- and ending with an IPO in late November. Now, a listing is unlikely before December or perhaps January.Last year, Aramco delayed the IPO after more than two years of preparations as international investors balked at the crown prince’s $2 trillion valuation.This time Saudi Arabia opted for an easier route, deciding to start with a local listing only in Riyadh -- ditching plans for a sale in London or New York -- and enlisting local banks and wealthy families to support the IPO.The Saudi government had seemed determined to press on with an accelerated schedule even in the face of potential headwinds: weak oil prices, a slowing world economy and last month’s attack on the company’s biggest processing plant.While details of the proposed offer haven’t been made public, people involved in the transaction said earlier this month that about 2% of Aramco might be sold, raising $40 billion and easily exceeding the $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd.Ever since the Crown Prince first mooted the the IPO of the kingdom’s most prized assets in early 2016, Aramco’s valuation has been contentious. Many analysts have said that $2 trillion is too much compared with similar publicly traded companies.Aramco may well be the world’s most valuable company, but based on the dividend yield received by investors in Exxon Mobil Corp., the largest U.S. oil company, its valuation would be closer to $1.5 trillion.The Sept. 14 attack on its oil facilities disrupted output and sent shock waves through energy markets, triggering the biggest one-day jump in Brent crude prices on record and stoking security concerns. Investors are already demanding a premium to hold the country’s debt, downgraded this month by Fitch Ratings Ltd.While advisers had been working on announcing an intention to float for Oct. 20, executives hadn’t given a firm timeline in public. Aramco Chief Executive Officer Amin Nasser said last month that the IPO would happen “very soon.”The IPO promises to be a fees bonanza for the more than two dozen advisers working on the share sale, with Aramco set to pay them $350 million to $450 million, people familiar with the matter said Wednesday.The delay to the IPO’s launch was reported by the Financial Times earlier.\--With assistance from Javier Blas, Simon Casey, Matthew Martin and Dan Murtaugh.To contact the reporters on this story: Will Kennedy in London at wkennedy3@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.netTo contact the editors responsible for this story: Stuart Wallace at swallace6@bloomberg.net, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- American City Business Journals
Behind The List: No. 1 energy employer in Houston sees drop in global revenue
Despite its No. 1 spot on the Houston Business Journal's 2019 Largest Houston-Area Energy Employers List, Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM) has seen a large drop off in global revenue since 2014. The company reported a global revenue of $279.33 billion in 2018, a 32 percent decrease since 2014, when it reported $421.11 billion in global revenue. The company’s lowest reported revenue was in 2016, when it reported $218.61 billion.
- Financial Times
Oil services providers eye low-carbon transformation
and government net zero targets are all piling pressure on Big Oil to reduce carbon dioxide emissions by shifting towards renewable energy. Critics have condemned the industry's response as insufficient, with even the most progressive oil majors devoting only a fraction of their research and development expenditure to low carbon tech.
- Reuters
UPDATE 2-Big U.S. liquefied natgas players move fast; smaller ones try to keep up
NEW YORK/LONDON, Oct 17 (Reuters) - A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals with fewer long-term contracts, while smaller developers struggle to find financing for their first plants. LNG trade has traditionally been underpinned by long-term purchasing deals which finance multi-billion dollar terminals that liquefy natural gas by chilling it to -260 degrees Fahrenheit (-160 Celsius), load it onto ships, and regasify it when delivered. "The industry is moving away from long-term agreements to justify construction of a new facility to a true commodity business," said Charif Souki, co-founder and Chairman of Tellurian Inc.
- Reuters
Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens
U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia's ESPO Blend oil sent buyers back to U.S. grades, according to market sources. Oil shipping costs for United States Gulf Coast to Asia cooled this week from record highs on the prospect of more vessels becoming available.
- Reuters
CORRECTED-(OFFICIAL)-UPDATE 1-Big U.S. liquefied natgas players move fast; smaller ones try to keep up
NEW YORK/LONDON, Oct 17 (Reuters) - A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals with fewer long-term contracts, while smaller developers struggle to find financing for their first plants. LNG trade has traditionally been underpinned by long-term purchasing deals which finance multi-billion dollar terminals that liquefy natural gas by chilling it to -260 degrees Fahrenheit (-160 Celsius), load it onto ships, and regasify it when delivered. The growing prowess of oil majors such as Exxon and recent entrants such as Cheniere and trading houses means there are aggregators that can supply buyers more flexibly, making it harder for smaller players.
- Reuters
Big U.S. liquified natgas players move fast, the small race to keep up
NEW YORK/LONDON, Oct 17 (Reuters) - A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals without new long-term contracts, while smaller developers struggle to find financing for their first plants. LNG trade has traditionally been underpinned by long-term purchasing deals which finance multi-billion dollar terminals that liquefy natural gas by chilling it to -260 degrees Fahrenheit (-160 Celsius), load it onto ships, and regasify it when delivered. "The industry is moving away from long-term agreements to justify construction of a new facility to a true commodity business," said Charif Souki, co-founder and Chairman of Tellurian Inc.
- InvestorPlace
Dow Jones Today: Retail Worries Take A Toll
After a strong earnings-driven rally yesterday, U.S. equity benchmarks gave back some of those gains Wednesday following some slack retail sales data.Source: Venturelli Luca / Shutterstock.com Retail sales dipped 0.30% in September, disappointing analysts that had been forecasting a 0.30% increase. In better news, the Commerce Department revised the August figure to a gain of 0.60%, but as stocks' performance today indicates, market participants focused more on the September number, a logical approach considering the holiday shopping season is essentially upon us.I've been reluctant to join the calls regarding a recession, but I've also been clear that the consumer is integral when it comes to holding things together for the U.S. economy. Another bit of silver lining is that the September retail sales figure was the first decline in seven months and that the decline was largely attributable to spending drops at motor vehicle supply stores.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAmong Dow components, looming earnings reports from the likes of Apple (NASDAQ:AAPL), Home Depot (NYSE:HD), McDonald's (NYSE:MCD) and Walt Disney (NYSE:DIS) should bring the state of the consumer into clearer view.For today, the Nasdaq Composite dropped 0.30% while the S&P 500 declined 0.20%. The Dow Jones Industrial Average retreated by 0.08% with just 12 of its 30 components higher in late trading.Johnson & Johnson (NYSE:JNJ) was the only Dow stock to gain more than 1% today on what looked liked some follow through on Tuesday's earnings report as well as some favorable reaction to some of the various opioid-related verdicts the company is contending with. Other Bright SpotsIn late trading, JPMorgan Chase (NYSE:JPM), the largest U.S. bank by assets, was clinging to a modest gain. This might be another example of follow through on yesterday's earnings report as well as a sympathy move on the back of Bank of America's (NYSE:BAC) strong report out earlier today. * 10 Buy-and-Hold Stocks to Own Forever "Given the fact that multiple rate cuts have already occurred, with the possibility for more, this was not surprising," said Morningstar in a note on JPM out yesterday. "Management also nailed down its expense guidance a bit more, coming in at roughly $65.5 billion, whereas before the guidance was simply for less than $66 billion. After incorporating these and other changes, we are increasing our fair value estimate to $114 per share from $110." Finally Some Good NewsShares of 3M Co. (NYSE:MMM) traded lower today, extending the stock's run as one of this year's worst-performing Dow names, but the stock is up more than 8% over the past week and some analysts are waxing bullish on the industrial conglomerate."Even after the 4% bounce on Oct. 11, we still believe the stock trades at a discount to intrinsic value in a diversified industrial space with few bargains," said Morningstar in a recent note on 3M. "As a GDP-plus business, 3M doesn't offer much in the way of top-line growth. Even so, we like the name with speculation of an upcoming recession because 3M is a defensive stock." Oil WoesWhile there was some talk that the Organization of the Petroleum Exporting Countries (OPEC) may extend recent supply cuts, Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) were the worst performers in the Dow Jones today.Big oil companies report third-quarter earnings later this month, but some analysts are already warning that estimates could be missed and that could explain some of the malaise in the group today. This year, energy is the worst-performing group in the S&P 500. * 7 Big Bank Stocks on the Move Bottom Line on the Dow Jones TodayReminder that International Business Machines (NYSE:IBM) reports today after the bell and that tomorrow is light on the Dow earnings front with none of the index's members report. American Express (NYSE:AXP) and Coca-Cola (NYSE:KO) resume Dow earnings season on Friday before the bell.As for the consumer, there are some good data points to consider."Perhaps the biggest difference versus last cycle: consumers are less indebted. On the eve of the financial crisis consumers were contending with record levels of debt," according to BlackRock. "At its peak in 2007, household debt was more than 130% of disposable income. Today household debt is less than 100% of income. Not only are debt levels lower, but thanks to historically low yields the cost of servicing the debt is near an historic low."As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks to Buy (With Brands You Can Find In Your Kitchen) * 7 Hot & Trendy Generation Z Stocks to Buy * 5 Stocks to Buy in the Mighty Middle The post Dow Jones Today: Retail Worries Take A Toll appeared first on InvestorPlace.
- Zacks
Are Investors Falling Out of Love With Oil & Gas Mergers?
Investors want the oil and gas companies to reduce costs, improve internal efficiencies, raise share repurchases and increase returns.
- Reuters
EXPLAINER-Translating TOR: How Brazil's $26 bln oil rights auction works
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area. The bidders who win exploration and production rights in the massive Nov. 6 auction will be obliged to pay the government a combined signing bonus of some 106.5 billion reais ($25.8 billion), making it the largest oil bidding round in history, according to Brazilian authorities. The fields are unique as Brazilian state-run oil firm Petroleo Brasileiro SA, better known as Petrobras, has already done significant exploration work in the area.
- Zacks
Is Schwab Fundamental U.S. Broad Market Index ETF (FNDB) a Strong ETF Right Now?
Smart Beta ETF report for FNDB
- Zacks
Exxon Mobil (XOM) Gains But Lags Market: What You Should Know
In the latest trading session, Exxon Mobil (XOM) closed at $69.40, marking a +0.32% move from the previous day.
- American City Business Journals
Exclusive: ExxonMobil scouting for potential cracker site in Beaver County
Brokers representing the company were in Beaver County last week, talking about a potential petrochemical plant to serve its customers.
- Barrons.com
Why Royal Dutch Shell Stock Could Stand Out From Big Oil
But Royal Dutch Shell Shell could benefit thanks to strong prices for liquefied natural gas, says a Cowen analyst
- Barrons.com
Apple, Boeing, Exxon, Facebook, and Micron to Blame for Earnings Recession
Profit declines for Apple, Boeing, Exxon, Facebook and Micron led the S&P 500 to the first string of consecutive quarterly earnings declines since 2017.
- Zacks
3 Stocks Poised to Gain From India's $60B Investment in Gas
India has ample growth and investment opportunity in the natural gas space. To augment the development, the government of India is going to invest $60B in natural gas infrastructure.
- Reuters
Exxon Mobil, ONGC sign expertise-sharing deal
Global energy giant Exxon Mobil Corp will offer its expertise and technology to India's biggest state-owned explorer Oil and Natural Gas Corp Ltd to help develop its resources in offshore blocks, according to two sources directly privy to the development. The memorandum of understanding (MoU), signed late Monday, will be later signed as a definitive deal after Exxon studies the blocks of the company, one of the sources told Reuters. Lately, India is generating a lot of interest worldwide in its oil and gas operations, as growing demand amid a global slowdown and government policies have made investments and returns attractive.
- Reuters
Exxon Mobil, India's ONGC sign expertise-sharing deal
Global energy giant Exxon Mobil Corp will offer its expertise and technology to India's biggest state-owned explorer Oil and Natural Gas Corp Ltd to help develop its resources in offshore blocks, according to two sources directly privy to the development. The memorandum of understanding (MoU), signed late Monday, will be later signed as a definitive deal after Exxon studies the blocks of the company, one of the sources told Reuters. Lately, India is generating a lot of interest worldwide in its oil and gas operations, as growing demand amid a global slowdown and government policies have made investments and returns attractive.
