|Bid||76.26 x 3100|
|Ask||78.97 x 800|
|Day's Range||76.37 - 78.90|
|52 Week Range||72.16 - 89.30|
|Beta (3Y Monthly)||0.69|
|PE Ratio (TTM)||14.16|
|Earnings Date||Jan 31, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||3.28 (4.15%)|
|1y Target Est||89.42|
Crude prices have continued to crash as bearish sentiment takes over oil markets, with pressure mounting on OPEC to cut production
Raymond James’s Pavel Molchanov downgraded Exxon to Underperform and says the company “is one of the least appealing ways to play our bullish oil call.”
If Brent oil prices move to $90 a barrel in 2019, "just about everyone" will benefit — except for Exxon Mobil Corporation (NYSE: XOM ), which is the "least appealing" play, according ...
In the previous part, we analyzed the institutional holdings in integrated energy stocks. In this part, we’ll discuss the changes in the short interest.
Shares of Exxon Mobil Corp. dropped 1.9% in premarket trade Tuesday, after Raymond James analyst Pavel Molchanov turned bearish on the oil giant, citing concerns over how the outlook for oil prices will impact the company. Molchanov cut his rating to underperform from market perform. His downgrade comes despite being bullish on oil prices, as he estimates 2019 WTI to rise to $77.50 a barrel; January oil futures are currently down 1.6% early Tuesday to $56.30, down 14% this month. "This is no secret, but it bears repeating: Exxon is one of the least appealing ways to play our bullish oil call, particularly after the painful but in our view transitory oil price selloff over the past month," Molchanov wrote in a note to clients. He said Exxon is viewed by investors as "ultra-defensive" as it has limited leverage to oil prices given its "significant overweight" in downstream and chemicals. Exxon's stock has lost 0.5% over the past three months, while the SPDR Energy Select Sector ETF has lost 8.1% and the Dow Jones Industrial Average has slipped 2.9%.
Now, we’ll review the changes in institutional ownership in Chevron (CVX), ExxonMobil (XOM), BP (BP), and Royal Dutch Shell (RDS.A) in the third quarter. The institutional ownership was the highest in Chevron at ~67%. The lowest institutional ownership was in Shell at ~11%. The institutional ownership in ExxonMobil and BP is at ~55% and ~13%, respectively.
Chevron (CVX), ExxonMobil (XOM), Royal Dutch Shell (RDS.A), and BP (BP) have paid dividends consistently in the past few years. Before we review their dividend yield trends, let’s look at their dividend payments in the fourth quarter. In the fourth quarter, ExxonMobil will pay a dividend of $0.82 per share on December 10—9.3% growth compared to the fourth quarter of 2016.
Cimarex Energy is the latest energy company to expand its acreage in the Permian basin with its purchase of Resolute Energy.
The backdrop is a grim one for Chevron (NYSE:CVX), as well as for its peers/rivals Exxon Mobil (NYSE:XOM) and even foreign oil giant BP (NYSE:BP). Although revenue of $46.4 billion fell short of estimates, it was still well up from the top line of $34.1 billion produced in the third quarter of last year.
The implied volatilities in integrated energy stocks have risen in the fourth quarter. BP’s (BP) implied volatility has risen the most compared to ExxonMobil (XOM), Chevron (CVX), and Royal Dutch Shell (RDS.A).
So far in the fourth quarter, integrated energy stocks ExxonMobil (XOM), Chevron (CVX), Royal Dutch Shell (RDS.A), and BP (BP) have fallen. They have mainly fallen due to a steep fall in oil prices.
“The Permian is poised to provide energy the world needs, create tens of thousands of local jobs and generate billions in state and local tax revenues. But this potential can only be fully realized if we simultaneously address significant infrastructure challenges and preserve the quality of life that makes so many want to live and work here.”
The iShares U.S. Energy ETF, which tracks the Dow Jones U.S. Oil & Gas Index, was punished by oil's recent slide. The $894.52 million IYE holds 70 stocks, but the ETF's price action is largely determined by just two of its holdings: Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX).
ExxonMobil’s (XOM) Downstream segment has been a savior for the company in the low oil price scenario. Before we review ExxonMobil’s ongoing Downstream projects, let’s look at the company’s refined product sales in the third quarter. In the third quarter, ExxonMobil’s refined product sales rose 1% YoY (year-over-year) to 5.6 MMbpd (million barrels per day) because of a 0.1% YoY rise in heating oil, kerosene, and diesel sales, a 13.2% rise in aviation fuels, and a 10.5% rise in heavy fuels.
ISTANBUL (AP) — Turkey's Foreign Ministry has cautioned an international energy company against cooperating with the government of Cyprus in its search for gas.
The fourth quarter was a rough one for most investors, as fears of a rising interest rate environment in the U.S, a trade war with China, and a more or less stagnant Europe, weighed heavily on the minds of investors. Both the S&P 500 and Russell 2000 sank as a result, with the Russell 2000, […]
These dividend stocks offer high yields, impressive corporate histories, and an opportunity to take advantage of short-term concerns.
Worries about slowing global demand may be overblown, while a recent market retreat has left many energy stocks looking appealing