|Bid||74.55 x 3200|
|Ask||74.56 x 800|
|Day's Range||74.23 - 74.81|
|52 Week Range||64.65 - 87.36|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||17.13|
|Earnings Date||Jul 25, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||3.48 (4.92%)|
|1y Target Est||84.97|
Two tankers were attacked in the Strait of Hormuz, causing oil prices to rise sharply. Kyle Cooper, consultant for Ion Energy, along with Ali Vaez, Iran Project director at the International Crisis Group, join Seana Smith on 'The Ticker' to discuss how this may impact the future price of oil.
Construction on a petrochemical plant near Corpus Christi could begin as early as next month. So could an appeal challenging the air quality permit for the plant's construction.
Shares of oil and gas company Chesapeake Energy Corp. slumped 4.4% toward a six-month low in afternoon trading Friday, despite a bump in crude oil prices, as longer-term concerns over global oil demand helped set off a broad selloff in the energy sector. The SPDR Energy Select Sector ETF shed 0.8%, with 28 of 29 components losing ground, while the S&P 500 eased 0.3%. Among the ETF's more-active components, shares of Halliburton Co. lost 2.1%, Schlumberger Ltd. declined 3.0%, Exxon Mobil Corp. gave up 0.5%, Marathon Oil Corp. slid 2.3% and Occidental Petroleum Corp. fell 0.7%. Crude oil futures rose 0.8%, after settling up 2.2% on Thursday. Meanwhile, the International Energy Agency cut its 2019 oil demand forecast for a second-straight month, citing a slowing in the global economy.
The agency removed the federal restriction on summer sales of E15 ethanol and came up with several structural changes to increase RIN market transparency.
Pope Francis said on Friday that carbon pricing, used by many governments to make energy consumers pay for the costs of burning fossil fuels, was "essential" to stem climate change. The comment, the Pope's clearest statement to date on the issue, was made in an address to leaders of the world's top energy companies at the end of a two-day meeting.
The project near Corpus Christi will be the world’s largest steam cracker and create $50 billion of “economic output” in the first six years, Exxon and Saudi Basic Industries Corp., known as Sabic, said in a joint statement on Thursday. The facility will convert hydrocarbons such as ethane and propane to ethylene, a chemical used to make everything from plastics to antifreeze.
Investors have been hearing plenty about geopolitical risk recently, but it has been mostly of the U.S.-China trade variety. That script flipped Thursday after two oil tankers were attacked in the Gulf of Oman, sending crude prices and stocks higher on the day.Source: Shutterstock The tankers had just passed through the Strait of Hormuz near Iran, one of the world's most important areas for oil transport, before being attacked. About a third of all oil shipments that are moved by tanker ships pass through the Strait of Hormuz. Secretary of State Mike Pompeo said Iran was responsible for the attacks.On the back of that news, the United States Oil Fund (NYSEARCA:USO), which tracks West Texas Intermediate futures, jumped 2.26%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 High-Quality Cheap Stocks to Buy With $10 Speaking of gains, they were more modest for the major U.S. equity benchmarks as the Nasdaq Composite and the S&P 500 added 0.57% and 0.41%. The blue-chip Dow Jones Industrial Average posted an even more modest gain of 0.39%. Usual and Unusual SuspectsWith oil trading higher, it was not surprising that two of today's Dow winners were Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX), the two largest U.S. oil companies. While there was an obvious catalyst to spark the energy sector, it was one of the Dow's consumer discretionary names that led the index higher today.Shares of media and entertainment giant Walt Disney (NYSE:DIS) soared nearly 4% after Morgan Stanley issued some bullish commentary on the name. Morgan Stanley boosted its price target on Disney to $160 from $135 today, noting that the company's streaming service, Disney+, is a credible threat to Netflix (NASDAQ:NFLX)."Stepping back and admittedly taking the long view, investing in Disney shares is a play on the durability of its IP," said Morgan Stanley analyst Benjamin Swinburne in a note out today.On light news, two of the Dow's other consumer cyclical names -- Home Depot (NYSE:HD) and NIKE (NYSE:NKE) -- were also among the index's best-performing names on the Dow Jones today.The analyst has an "overweight" rating on Disney stock. Speaking of analyst commentary, Boeing (NYSE:BA), the Dow's largest component and a stock frequently highlighted in this space, traded slightly higher despite research firm Berenberg lowering its price target on the aerospace giant to $415 from $430.In the unusual suspects category, Dow Inc. (NYSE:DOW), the lone materials stock in the Dow Jones Industrial Average, added to its recent hot streak. While the materials sector is one of the smallest sector weights in the Dow and the S&P 500, keeping attention lavished upon the group to a minimum, the group is surging this month and is on pace for its best monthly performance in four years. Bottom Line for the Dow Jones TodayLooking at the broad benchmarks, this weeks' market action makes it feel as though the summer doldrums are setting in, but investors should not get complacent. There are just a couple of weeks left in the second quarter and when July arrives, so will the start of another earnings season. In advance of that, investors may want to evaluate how their portfolios are exposed to international revenue streams and the lingering trade spat with China.Expect to hear plenty of about internal revenue exposure on upcoming second-quarter earnings calls and how that affected results and could impact earnings over the remainder of 2019. * 6 Top Stock Trades for Friday: AMD, SQ, DIS "The estimated earnings decline for the S&P 500 for Q2 2019 is -2.3%," according to FactSet research. "For companies that generate more than 50% of sales inside the U.S., the estimated earnings growth rate is 1.4%. For companies that generate less than 50% of sales inside the U.S., the estimated earnings decline is -9.3%."Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post Dow Jones Today: Oil Slicks Lift Stocks appeared first on InvestorPlace.
The companies plan to begin construction on the $10 billion project in the third quarter of 2019 and start up the facility by 2022
Oil prices jumped June 13 after a few shells were lobbed at a tanker in the Gulf of Oman. The attack sent the price of crude oil up more than $2 per barrel after the price of Brent crude, the world standard, had briefly fallen below $60 per barrel.Source: SarahTz Via FlickrSomething else that's rising in June is the price of Exxon Mobil (NYSE:XOM) stock, which opened for trade June 13 at $74.70, up almost $4 per share from the start of the month.War helps Exxon in multiple ways. Its global reach means it can squeeze the best price from fear. It also lifts the price of American crude, which has been threatening to become unprofitable amidst the shale boom.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Oil War and Exxon StockIran called the attacks "suspicious." They come just as Japanese Prime Minister Shinzo Abe was making his first visit to Iran since its 1979 revolution. The fear is the attack may provoke a shooting war among the oil powers that could send the price of oil into three figures and lead to a global recession. * 7 High-Quality Cheap Stocks to Buy With $10 No one died in the attacks, but the incident was certain to stoke war fears on TV news shows. One tanker was carrying naphtha, the other methanol.Beyond the war talk, however, oil prices were getting no lift at all, with some speculators worrying oil might fall to $30 per barrel -- a point where no one would profit. Westward HoExxon Mobil is sensitive to the oil bears. It is doubling down on shale oil production in the Permian Basin of Texas and New Mexico, promising governments a giant windfall even if prices fall to $40.The company is also investing heavily in facilities to process that oil. It is expanding a refinery in Beaumont and looking to build a new petrochemical project in the Corpus Christi area.Exxon's strategy is now geared heavily to the Western Hemisphere. It has found a huge pool of oil off the coast of Guyana and put $6 billion into exploiting it. It is also expanding drilling off the coast of Argentina. What Could Go Wrong?Exxon's relative safety and diversification are why I've been calling it the only oil stock you should own. But I don't think the boom is going to last. Long-term trends, like an explosion of supply, the falling price of renewables and greater efficiency, all work against it.Oil prices are captive to world events in a way they haven't been in 40 years, but not all these events are good for prices. Before the Iranian attacks, prices were slipping in the face of growing trade tension and rising inventories.Middle East suppliers are especially nervous. Saudi Aramco is planning its first earnings call. The Sauds made a deal with Russia to keep down production, and they're promising further production cuts. The Bottom Line for XOM Stock and OilA decade ago, people worried if there was enough oil and natural gas to run the world. Now it's clear there's too much.Technology has become a double-edged sword for Exxon Mobil. Technology lets it produce more oil at lower cost. But technology also lets consumers and businesses use less oil and move toward electric cars.Given that reality, a Middle East war may be all that might save Exxon Mobil from disaster. Not a big one. A small one, like the one boiling up right now. Cry Wolf, as in Blitzer, and you'll get your price.Dana Blankenhorn is a financial and technology journalist. He is the author of the mystery thriller set in Texas, The Reluctant Detective Finds Her Family, available at the Amazon Kindle store. Write him at firstname.lastname@example.org or follow him on Twitter at @danablankenhorn. As of this writing he owned no shares in companies mentioned in this article. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post Exxon Stock Prices Rise in the Fog of War appeared first on InvestorPlace.
SABIC and ExxonMobil are proceeding with their previously announced plan to build the Gulf Coast Growth Ventures project, a 1.8 million-tonne/year ethane cracker currently planned for construction in San Patricio County, Tex. The ExxonMobil-SABIC joint venture has received final environmental regulatory approval to proceed with construction of the GCGV project, which will include an ethane steam cracker, two polyethylene units, and a monoethylene glycol unit.
Exxon Mobil Corp and Saudi Basic Industries Corp said on Thursday they would start construction of a $9 billion petrochemical plant in Texas in the third quarter that would have the world's largest ethane processing capacity. The 50/50 joint venture, called Gulf Coast Growth Ventures, will have the ability to produce 1.8 million metric tons a year, and will house a monoethylene glycol unit and two polyethylene units, the companies said. Building the world's largest steam cracker on the doorstep of rapidly growing Permian production gives this project significant scale and feedstock advantages, Exxon Mobil Chief Executive Officer Darren Woods said.
ExxonMobil and SABIC today announced the decision to proceed with the construction of a chemical facility and a 1.8 million metric ton ethane steam cracker in San Patricio County, Texas, leading to thousands of high-paying jobs and billions in economic output. “Building the world’s largest steam cracker, with state-of-the-art technology, on the doorstep of rapidly growing Permian production gives this project significant scale and feedstock advantages,” said Darren W. Woods, chairman and chief executive officer of ExxonMobil. The joint-venture between ExxonMobil and SABIC, called Gulf Coast Growth Ventures, received final environmental regulatory approval in June 2019 to build an ethane steam cracker, two polyethylene units and a monoethylene glycol unit.
Editor's note: This story was previously published in April 2019. It has since been updated and republished.By the age of 30, you should already have nearly a decade's worth of retirement savings under your belt. If you don't, you're not alone. A recent GoBankingRates survey showed that nearly half of the millennials questioned had no retirement savings at all.If you fall into that camp, keep in mind the old saying "better late than never," because it absolutely applies if you're only just starting to build a nest egg. If you just hit the big 3-0 and you've already been saving and investing for years, bravo; however, 30 is a great milestone to look over your investments and rebalance your portfolio with some of the best long-term stocks out there. InvestorPlace - Stock Market News, Stock Advice & Trading TipsUnlike in your 20s, risk is a much larger consideration a decade later. The market is bound to go up and down, and you have to assess whether or not you could handle a market-wide pullback. Moreover, you will want to keep some powder dry to buy on a dip. Income stocks that pay dividends become important stocks to buy at this stage, but choosing some riskier players shouldn't be completely off the table. * 7 High-Quality Cheap Stocks to Buy With $10 Of course, investors in their 30s should be holding some of their money in an index fund that will provide conservative growth. But here's a look at ten of the best long-term stocks to buy if you're in your 30s.Source: Baron Valium via Flickr Disney (DIS)I recommended Disney (NYSE:DIS) stock when the company's share price dipped below $100 following a racist tweet from Roseanne Barr, the star of one of the company's most successful sitcoms back in 2018. Disney responded by immediately canceling the show and distancing itself from Barr's hateful outburst, but investors worried that the loss of advertising from the canceled show would hurt advertising income.Since then, the market has come to its senses and DIS stock is back to trading above $135 per share.There are a few reasons Disney is one of the best long-term stocks to buy if you're building a portfolio in your 30s. The first is that the company is ripe for a major comeback.Disney is a solid company with a great deal of cash behind it. That means that even in the worst-case scenario, the firm has the money to spend on building out a streaming service from scratch and weather any storms that loom over the media space in the future. The firm also pays a respectable 1.33% dividend yield that will help balance out concerns about growth due to the firm's size.Source: Vivian D Nguyen via Flickr (Modified) Netflix (NFLX)Another player in the streaming space worth considering one of the best long-term stocks to buy is Netflix (NASDAQ:NFLX).If you missed the boat on NFLX back in 2015 when shares were trading below $50, it might be a hard pill to swallow, but NFLX is still an excellent long-term bet despite the fact that its share price is over $345 today.The reason is that Netflix still has a long growth runway before investors should start to worry about the company becoming too large to produce the kind of growth they've become accustomed to. A company like, say, Apple Inc. (NASDAQ:AAPL) has a market cap of nearly $900 billion, making it unlikely that the firm can continue to grow at the same clip over the next decade. Netflix's market cap of $150 billion leaves plenty of space for the firm to catch up to its fellow FAANG peers over the next decade. * 7 High-Quality Cheap Stocks to Buy With $10 NFLX has the growth potential to do so as well. The company has proven that it has a good grasp on the population's ever-changing tastes, and although it has been expensive, Netflix's original content has been a huge draw for subscribers. While the U.S. market has been saturated, NFLX has only just begun its international expansion, leaving a long growth runway for the next few years.Over the past two years, Netflix has been preparing for a major push overseas, and those efforts are due to pay off over the next decade. GHB Insights' head of technology research Daniel Ives said he sees Netflix international expansion opening a potential market of 700 million subscribers in the next 2 years.So, although the streaming space is certainly getting more crowded, NFLX appears to have created a winning formula that makes it one of the best long-term stocks to buy and hold on to. Source: Mike Mozart via Flickr (Modified) Procter & Gamble (PG)As I mentioned above, risk assessment is a huge part of building your portfolio in your 30s, and although you still have plenty of time to let risky bets play out, you should be thinking about adding some low-risk, solid stocks to your portfolio that will keep ticking along as the years go by.Procter & Gamble (NYSE:PG) is one such stock to buy that, although boring, is a buy-and-hold-until-you-retire kind of stock. What makes it one of the best long-term stocks to buy is that the company's management has a long history of maintaining a healthy cashflow and delivering shareholder returns and its 2.90% dividend yield will provide a reliable income.Not only that but PG's widely diversified business offers investors some security in times of economic trouble. Plus, PG sells a wide variety of necessities like toothpaste and soap, which are unlikely to take much of a hit even in the case of a recession.Increased competition is definitely something to keep in mind when considering PG, but the firm's strong financial position means it has the leeway to refocus its strategy and continue thriving in difficult conditions. Exxon Mobil (XOM)If you haven't started wading back into oil and gas stocks yet, now's your chance. Now that oil prices are starting to recover, it's worth revisiting the industry. The crash in crude oil prices helped weed out weaker firms and those that survived are coming back stronger than ever with more efficient operations and better future prospects. However, worries about oversupply are still in the forefront of investors mind, which has kept the sector from becoming too expensive.Exxon Mobil (NYSE:XOM) is one of the best long-term stocks to buy for a few reasons. First, the company's share price is still well below its 2015 highs, giving it plenty of room for a turnaround in the coming years. XOM stock is also working on an aggressive new strategy that includes a $2 billion pipeline in the Permian Basin. The firm also sees potential opportunities in Guyana and Brazil which are expected to help XOM ramp up production significantly over the next few years. * 7 High-Quality Cheap Stocks to Buy With $10 Of course, oil prices will play a major role in whether or not XOM's plans are successful, but what's nice about owning Exxon shares is the fact that the company's integrated structure means it's not a direct oil play. So, although that means XOM won't see the same kinds of gains some of its peers do if oil prices spike, that also means it won't suffer the same losses should the opposite occur. XOM also pays out a 4.9% dividend that has been raised every year for the past 36, taking the edge off some of the risk.Source: Shutterstock Walmart (WMT)Discount superstore Walmart (NYSE:WMT) is often overlooked by investors because Amazon.com (NASDAQ:AMZN) tends to be their first choice. While I don't disagree that Amazon is still one of the best long-term stocks to buy, worries about WMT's future are largely overdone. Since being scathed by the ecommerce takeover a few years ago, WMT stock has made an impressive recovery and although the firm is still facing some headwinds, it's a solid stock to buy.Judging by the company's improving e\commerce sales, it looks like Walmart is on the right track to competing against the likes of Amazon. Source: Shutterstock Amazon (AMZN)You'd have to be living under a rock to not have heard all the buzz surrounding Amazon over the past few years. If you haven't jumped on the AMZN stock bandwagon yet, though, there might still be time. Of course, you'd be much better off if you'd bought Amazon stock in 2012 when it was trading at just $200 per share, but the company still is one of the best long-term stocks to buy today.It might seem counterintuitive to consider AMZN when you look at the firm's massive $913 billion market cap and the fact that the company pays absolutely no dividends. Not to mention, AMZN stock has proven to be extremely volatile. However in your 30s you've still got time, and that means there's space in your portfolio for a little bit of wiggle room if you're comfortable with it. * 7 High-Quality Cheap Stocks to Buy With $10 Aside from its dominance in e-commerce, Amazon is also a top dog in cloud computing, an industry destined to grow exponentially over the next few years. On top of that, AMZN is spreading its wings in a wide variety of industries including grocery and logistics and there are even rumors that the firm is working to make its way into the healthcare space as well.It's hard to imagine AMZN's market cap getting much larger, but 30-somethings would be remiss not to consider Amazon stock to juice up their gains over the next five or 10 years. Source: Shutterstock Berkshire Hathaway (BRK.B)It would be impossible to talk about the best long-term stocks without including Berkshire Hathaway Inc. (NYSE:BRK.B), run by legendary investor Warren Buffett. Of course, if you're 30 and just picking up Berkshire Hathaway stock now, then you're about to miss the boat in terms of benefiting from Buffett's infamous investing sense. However, that doesn't make BRK.B a bad long-term pick. The company has new fund managers at the helm who've already started taking over some of the firm's investment decisions and you can't argue with the value the firm already possesses. Berkshire has a roundup of defensive stocks that will help the firm ride out troubled markets, but the firm will also keep up with upward market trends. If nothing else, Berkshire stock is a great stabilizer that will round out your portfolio and mitigate against major market events making it one of the best long-term stocks 30-something crowd.Source: Flickr> Unilever (UN)Another consumer products stock to add to your list of the best long-term stocks is Unilever (NYSE:UN). The company has become massively efficient after undergoing major cost-cutting initiatives over the past few years in order to better compete as the industry became more and more competitive.That bodes well for the future because it means the company will be well prepared in the event of a recession, not to mention that the company sells a wide variety of basic necessities, which tend to continue selling even when purse strings are tight. * 7 High-Quality Cheap Stocks to Buy With $10 Another reason UN makes for a good stock to buy is the firm's presence in emerging markets. In 2017, more than half of the company's reported sales came from emerging markets. The company's huge footprint within emerging markets sets it apart from its peers because it creates a great long-term growth runway that others don't have access to. Source: Shutterstock Microsoft (MSFT)Another steady-stock to buy in your 30s is Microsoft (NASDAQ:MSFT). Like a few others on this list, MSFT stock isn't exactly the most exciting stock, but it will do its job and make you some money. Unlike others in the IT industry, MSTF is mature which, in this case, translates to stability rather than falling out of touch with what consumers want. Right now MSFT is working to pivot away from its traditional software business and focusing on growth in its cloud business, which includes subscriptions like Office 365 as well as Azure, Microsoft's answer to Amazon Web Services. Growth in that arm of MSFT's business has been strong. With a P/E of 29 and a dividend yield of just 1.5%, there's no doubting that MSFT is an expensive stock, but you're paying a premium for a well run, solid business that has and will continue to withstand the test of time. Source: Shutterstock Waste Management (WM)It's all well and good to invest in the next hot tech trend or retail story, but if you really want to make a play on future trends then look no further than Waste Management (NYSE:WM), the company that handles everyone's garbage. One thing is for certain, over the next few decades people are going to generate waste, and WM will be there to dispose of it. That makes it one of the best long-term stocks to buy.Not only does WM have a wide moat because of the regulatory permits it holds and its huge network of landfills, but the firm has also diversified its business to offer more than just waste collection and landfill maintenance. Waste Management also handles recycling and has been developing a way to turn landfill gas into energy. That means that as greener living continues to gain traction, WM will benefit as well. * 7 High-Quality Cheap Stocks to Buy With $10 However, perhaps the most alluring reason to add WM stock to your portfolio is the firm's 1.87% dividend yield. The company has been raising its dividend annually for the past 15 years and there's no reason to expect that to stop anytime soon.As of this writing, Laura Hoy was long AMZN, AAPL, UN and NFLX. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Quality Cheap Stocks to Buy With $10 * 7 U.S. Stocks to Buy With Limited Trade War Exposure * 6 Growth Stocks That Could Be the Next Big Thing Compare Brokers The post 10 Stocks That Every 30-Year-Old Should Buy and Hold Forever appeared first on InvestorPlace.
Exxon Mobil Corp NYSE:XOMView full report here! Summary * Perception of the company's creditworthiness is negative * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low * Economic output in this company's sector is contracting Bearish sentimentShort interest | PositiveShort interest is extremely low for XOM with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting XOM. Money flowETF/Index ownership | PositiveETF activity is positive. Over the last month, ETFs holding XOM are favorable, with net inflows of $11.48 billion. Additionally, the rate of inflows is increasing. Economic sentimentPMI by IHS MarkitThere is no PMI sector data available for this security. Credit worthinessCredit default swap | NegativeThe current level displays a negative indicator. XOM credit default swap spreads are near their highest levels for the past 1 year, which indicates the market's more negative perception of the company's credit worthiness.Please send all inquiries related to the report to email@example.com.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
A Texas regulator granted an air quality permit to the facility as environmental groups say they will appeal.
Nano-cap Fuel Cell Energy (NASDAQ: FCEL ) shares spiked higher after the company reported a licensing deal with Exxon Mobil (NYSE: XOM ) Research and Engineering company. This isn't the first partnership ...
ExxonMobil Corp. has completed a project to expand production of high-quality lubricant base stocks at affiliate ExxonMobil Asia Pacific's 592,000-b/d integrated, two-site refining complex on mainland Jurong and Pulau Ayer Chawan, Jurong Island, offshore southwestern Singapore.