|Bid||75.51 x 900|
|Ask||75.33 x 800|
|Day's Range||75.17 - 75.85|
|52 Week Range||64.65 - 87.36|
|Beta (3Y Monthly)||1.12|
|PE Ratio (TTM)||17.35|
|Earnings Date||Jul 25, 2019 - Jul 29, 2019|
|Forward Dividend & Yield||3.48 (4.59%)|
|1y Target Est||84.97|
(Bloomberg) -- Oil rose as U.S. crude stockpiles fell more than forecast and as OPEC’s top producers progressed toward extending output cuts for the rest of the year after ending a monthlong stalemate on a meeting date.Futures climbed as much as 1.7% in New York, rebounding from a 0.3% drop on Wednesday. American crude inventories fell by 3.1 million barrels last week, according to government data, more than any of the 12 analysts forecast in a Bloomberg survey. Saudi Arabia, Iraq and the United Arab Emirates are all in favor of restraining supply to boost prices amid signs of slowing demand.Crude has lost about 18% since late April as swelling U.S. inventories and a deepening U.S.-China trade war dented the demand outlook. Washington and Beijing are set to resume talks next week at the G-20 summit in Osaka, while the Organization of Petroleum Exporting Countries and its allies will meet in Vienna on July 1-2 to discuss whether to extend their output reductions.“Two major upcoming events -- the trade talks for the U.S. and China and OPEC+’s meeting in Vienna -- are boosting prices, helped by the shrinking American stockpiles,” said Sungchil Will Yun, a commodities analyst at HI Investment & Futures Corp. in Seoul. While signals are positive, “it’s more of a wait-and-see on the outcome of those discussions for investors,” he said.West Texas Intermediate for July delivery, which expires Thursday, added 69 cents to $54.45 a barrel on the New York Mercantile Exchange as of 11:37 a.m. Singapore time. Futures dropped 14 cents to $53.76 on Tuesday. The more-active August contract traded 1.3% higher to $54.67.Brent for August settlement rose 76 cents to $62.58 a barrel on London’s ICE Futures Europe Exchange. Prices closed 0.5% lower at $61.82 on Tuesday. The global benchmark crude traded at a $7.93 premium to WTI for the same month.See also: Fed Scraps Patient Approach and Opens Door to Potential Rate CutU.S. crude inventories fell for the first time in three weeks through June 14, according to the Energy Information Administration. Stockpiles slid more than double the median analyst estimate for a 1.25-million-barrel decline. American oil production dropped for a second week to 12.2 million barrels a day.U.A.E. Energy Minister Suhail Al Mazrouei said on Wednesday that he’s not “expecting a very difficult process in approving the extension,” echoing views expressed by the oil ministers of Saudi Arabia and Iraq. Russia still remains a question mark as it’s yet to clarify if it will join in any cuts.To contact the reporter on this story: Sharon Cho in Singapore at firstname.lastname@example.orgTo contact the editors responsible for this story: Serene Cheong at email@example.com, Ben Sharples, Heesu LeeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
ExxonMobil (XOM) stock has fallen 7.1% in the second quarter. Now let's look at the company's moving average trend in the current quarter. Before that, let's take a quick look at how its moving averages have trended in the past couple of quarters.
ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.
(Bloomberg) -- Oil slipped below $54 a barrel after a short-lived spike as anxieties about global trade and a supply glut overshadowed record gasoline consumption in the U.S.Futures in New York closed 0.3% lower on Wednesday after earlier rising by almost 1%. The U.S. Energy Information Administration said domestic oil inventories fell by 3.1 million barrels last week, more than any of the 12 analysts in a Bloomberg survey expected. Demand for gasoline hit a record 9.93 million barrels a day and stockpiles of the motor fuel unexpectedly declined.The report came hours after OPEC and its allies officially proposed an early July date to discuss new supply cuts, ending weeks of speculation about whether the group of major producers could overcome divisions. Saudi Arabia, Iraq and the United Arab Emirates -- OPEC’s three biggest members -- all want to keep restraining production amid signs of faltering economic growth, according to statements in recent days.That and the bullish EIA report “all begin to reduce the uncertainties for an oil market that has a whole bunch of them, maybe the biggest of which is where demand is going to go,” said Rob Thummel, managing director at Tortoise, a Kansas-based money manager that oversees $21 billion in assets.West Texas Intermediate for July delivery fell 14 cents to $53.76 a barrel on the New York Mercantile Exchange. The U.S. benchmark price notched its best one-day advance in five months on Tuesday as OPEC and its partners discussed an extension while the U.S. and China said they would revive stalled trade talks.Brent for August settlement fell 32 cents, or 0.5%, to $61.82 a barrel on London’s ICE Futures Europe Exchange, after closing 2% higher on Tuesday.Oil has slipped about 19% since late April as the prolonged trade spat dented investor confidence. Tensions in the Middle East, including the latest rocket attack near an Exxon Mobil Corp. workers’ camp in southern Iraq, are heightening market uncertainty.See also: The Worst of Russian Tainted Oil Crisis Looks to Have PassedTrade talks between the world’s two biggest economies continue to have a major influence on the market. U.S. President Donald Trump said Tuesday that he had a “very good” phone conversation with his Chinese counterpart Xi Jinping. The two leaders will hold an “extended meeting” at the G-20 summit in Osaka on June 28-29. Trump had repeatedly threatened more tariffs if Xi spurned the opportunity to talk.After weeks of failed talks, some investors remain skeptical, said Bob Yawger, director of futures at Mizuho Securities USA.“There’s a lot of folks out there saying, ‘Sure they are going to talk at the G-20. What is going to get done?’” he said. “A certain sober mood has returned to the market.”\--With assistance from Rakteem Katakey and Sharon Cho.To contact the reporter on this story: Alex Nussbaum in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Carlos Caminada, Mike JeffersFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
ExxonMobil and the United States Agency for International Development said today that ExxonMobil will provide $3 million to USAID to design and administer programs that improve social and economic development in Mozambique.
(Bloomberg) -- A rocket attack near an Exxon Mobil Corp. workers’ camp in southern Iraq had no effect on oil fields or exports, according to a person with knowledge of the matter.It wasn’t immediately clear whether Exxon’s operations were the target, the person said, asking not to be identified for lack of authority to speak with news media. The incident in Basra province injured three workers at an Iraqi drilling company, according to a government security bureau. Exxon evacuated 20 foreign employees, Sky News Arabia reported earlier, citing unidentified local officials.Attacks on energy facilities, including a Saudi Arabian pipeline and several oil tankers, as well as a U.S. military buildup are stoking fears that the Middle East may be heading toward another conflict. The U.S. ordered its non-emergency government staff to leave Iraq last month amid increasing regional tensions that American officials blame on Iran.While oil prices spiked immediately after the June 13 attacks on two tankers near the Strait of Hormuz, crude is down over the past month on concerns over waning demand. Brent crude in London pared losses earlier in the day before dipping 0.4% lower to $61.88 a barrel as of 2:25 p.m. Dubai time. “A quite considerable ratcheting of tensions will be required to drive prices higher,” according to BloombergNEF.Iraq’s Deputy Oil Minister Fayyad Al-Nima said the rocket wounded Iraqi workers and targeted a local company, not a foreign one. The government still hasn’t determined who is responsible for the attack. “God willing these events won’t be repeated,” Al-Nima told reporters in Baghdad.U.S. WarningThe U.S. sent a warning to Iran through Swiss and Iraqi intermediaries against engaging American forces, General Paul Selva, vice chairman of the Joint Chiefs of Staff, said on Tuesday in Washington. “We’ve used them all to say ‘hands-off, don’t come after our forces,’” Selva said.Exxon pulled about 80 people from Iraq last month, raising the ire of Iraq’s oil minister who said the decision was “unacceptable and unwarranted” because it had nothing to do with the security situation in the south of the country. The company returned some of its workers on May 31 after boosting security at the site.An Exxon spokesman in Singapore wasn’t immediately able to comment. Iraq’s State Oil Marketing Co. didn’t immediately respond to requests for comment.Iraq, which has enjoyed relative calm after the Islamic State insurgency receded there in 2017, has suffered a spate of low-level attacks in recent weeks. A shell exploded near the U.S. embassy in May. Rockets on Tuesday hit an official compound in the northern Iraqi city of Mosul and the Taji Military camp near Baghdad, both of which house American military advisers, according to local press reports.Exxon operates the West Qurna-1 oil field in Basra, which pumps between 450,000 and 480,000 barrels a day. The region is responsible for the bulk of Iraq’s crude output.Royal Dutch Shell Plc, which has operations near Exxon, said in a statement that it wasn’t “subject to the attack” and its output hasn’t been interrupted.(Updates with Iraq’s deputy oil minister’s comments in fifth paragraph.)\--With assistance from Dan Murtaugh and Abbas Al Lawati.To contact the reporters on this story: Khalid Al-Ansary in Baghdad at firstname.lastname@example.org;Kadhim Ajrash in Baghdad at email@example.comTo contact the editors responsible for this story: Alaa Shahine at firstname.lastname@example.org, ;Nayla Razzouk at email@example.com, Mohammed Aly Sergie, Bruce StanleyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A rocket was fired on Wednesday into an area of the Iraqi city of Basra, the country’s oil and gas hub that houses several global oil companies, close to where US personnel were operating. The flurry of attacks comes amid rising tensions between the US and neighbouring Iran, prompting Adil Abdul Mahdi, Iraq’s prime minister, to issue a statement on Tuesday forbidding foreign states from acting against each other inside the country “without agreement from the Iraqi government”. The rocket fired on Wednesday fell on the headquarters of the Iraqi Drilling Company in the Burjesia area of Basra, according to a spokesperson for the state-run Basra Oil Company.
A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.-Iran tensions in the region. There was no immediate claim of responsibility for the attack near Iraq's southern city of Basra, the fourth time in a week that rockets have struck near U.S. installations. Three previous attacks on or near military bases housing U.S. forces near Baghdad and Mosul caused no casualties or major damage.
A rocket attack near an Exxon Mobil Corp. workers' camp in southern Iraq had no effect on oil fields or exports, according to a person with knowledge of the matter.
San Antonio-based Zachry Group will build a new Corpus Christi-area chemical complex, which is a joint venture between Exxon Mobil Corp. and state-run Saudi Basic Industries.
Rating Action: Moody's assigns A1 to Harris Co. Improvement District 18, TX's GOULTs. Global Credit Research- 18 Jun 2019. New York, June 18, 2019-- Moody's Investors Service has assigned an A1 to Harris ...
A joint venture of Saudi Arabian Basic Industries Corp. and ExxonMobil has let a contract to a consortium of Mitsubishi Heavy Industries and Zachry Group to provide construction work on a new unit at the JV’s recently approved Gulf Coast Growth Ventures project, a 1.8 million-tonne/year ethane cracking complex in San Patricio County, Tex., near Corpus Christi.
Today we'll take a closer look at Exxon Mobil Corporation (NYSE:XOM) from a dividend investor's perspective. Owning a...
The South Texas Drilling Permit Roundup is a weekly review of new drilling permit applications filed with the Railroad Commission of Texas for a 67-county area of South Texas.
(Bloomberg) -- Oil slipped further into a bear market as American factories and homebuilders offered the latest signs of weakening demand.Futures slid 1.1% in New York while London-traded Brent crude fell almost 2% as OPEC and its allies struggled to pick a meeting date to discuss supply cuts. In the U.S., the Federal Reserve found a record slowdown in June for New York State factories while sentiment among housing contractors unexpectedly dropped for the first time all year.Commerce Secretary Wilbur Ross, meanwhile, downplayed expectations for a U.S.-China trade breakthrough at this month’s G-20 summit in Japan.“OPEC will inevitably do what it needs to do, but that can’t happen without a lag,”Bart Melek, head of commodity strategy at Toronto’s TD Securities, said in an interview. “So the question for the market now is what happens to the demand side of the equation.”Monday’s decline halted a two-day rally for prices that followed last week’s attacks on oil tankers in the Middle East. Swelling American stockpiles and the U.S.-China trade rift have helped drive prices into a bear market, down more than 20% since a late April peak.The retreat came as the OPEC+ producer alliance worked to schedule a gathering to formally extend production cuts. Iran, the lone holdout, is willing to meet in late June or mid-July, Oil Minister Bijan Namdar Zanganeh told reporters in Tehran on Monday. Still, he and Russian Energy Minister Alexander Novak failed to settle on a date.West Texas Intermediate for July delivery closed 58 cents lower at $51.93 a barrel on the New York Mercantile Exchange. Brent for August settlement fell $1.07, or 1.7%, to $60.94 a barrel on London’s ICE Futures Europe Exchange. See also: Saudi Arabia Seeks to Balance Global Crude Markets Before 2020As the trade war drags on, pressure is building on OPEC+ to extend its output limits into the second half of the year. The alliance will probably meet in “the first week of July, and that will secure the rebalancing the market,” Saudi Energy Minister Khalid Al-Falih said Sunday.\--With assistance from Sharon Cho.To contact the reporters on this story: Alex Nussbaum in New York at firstname.lastname@example.org;Alex Longley in London at email@example.comTo contact the editors responsible for this story: Serene Cheong at firstname.lastname@example.org, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Crane Co. is ramping up pressure on rival Circor International Inc. by taking its $45-a-share takeover offer directly to the industrial product manufacturer’s shareholders.Crane has commenced an unsolicited, all-cash tender offer for the flow control equipment maker’s outstanding shares, Circor said in a statement Monday, confirming an earlier Bloomberg News report."The Circor board of directors will carefully review and evaluate Crane’s tender offer to determine the course of action that it believes is in the best interests of Circor and its shareholders," the company said. The board intends to make a recommendation to shareholders on the offer within 10 business days.The tender offer, which would crystallize Crane’s unrequited overtures into a formal hostile takeover proposal, is aimed at forcing Circor’s management to the negotiating table to avoid facing the prospect of a shareholder referendum on the deal."This cash tender offer provides Circor shareholders the opportunity to send a clear message to the Circor board," Crane Chief Executive Officer Max Mitchell said in a statement Monday. "Circor shareholders have endured five years of underperformance and a series of value-destroying capital allocation decisions by current management."The offer represents about a 50% premium above Circor’s share price on May 20, the day before Bloomberg first reported Crane’s interest in acquiring it. Circor rose less than 1 percent to $45.02 at 12:55 p.m. in New York on Monday, valuing the Burlington, Massachusetts-based company at $896 million. Crane’s largest customers by revenue include Boeing Co. and Airbus SE, while Circor’s include Lockheed Martin Corp. and Exxon Mobil Corp.The push comes almost two weeks after Mitchell criticized Circor’s board for refusing to engage in merger talks despite a series of offers to do so. In a letter dated June 4, Mitchell said Circor’s board had “provided no significant rationale for its rejection,” calling it a “disservice to Circor shareholders.”In the same letter, Mitchell said Crane was willing to improve the terms of its $45-a-share offer should Circor decide to engage.Mario Gabelli, chairman of Gamco Investors Inc., which owns 15.2% of Circor’s stock and is the largest investor, has also criticized the board’s failure to engage with Stamford, Connecticut-based Crane.In an interview last month, Gabelli said “there is no way you could talk about this as proper governance.”(Updates with comment from Crane CEO in fifth paragraph.)To contact the reporter on this story: Ed Hammond in New York at email@example.comTo contact the editors responsible for this story: Elizabeth Fournier at firstname.lastname@example.org, Kevin MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Amazon.com Inc., Exxon Mobil Corp. and Volvo are among more than 700 companies being targeted in a campaign backed by a large group of investors advocating for greater transparency when it comes to environmental impact.HSBC Global Asset Management, Investec Asset Management and close to 85 other investors representing a combined $10 trillion in assets are asking companies to comply with the reporting process managed by the Carbon Disclosure Project, a British nonprofit research group that solicits and scores corporate environmental disclosures.Investors and interested observers need “consistent, comparable information collected in one place so that they can benchmark performance and use the data to inform their decisions,” said Emily Kreps, global director of investor initiatives at CDP. HSBC and Investec didn’t immediately respond to a request for comment.The effort targets companies the group says have failed to disclose such information for years at a time.Investors participating in the CDP initiative “are active managers or asset owners who have a sophisticated understanding of the [environment, social, and governance] disclosure they need from companies for their investment processes,” Kreps said. “We would expect to work with more investors on this in the future, especially as demand for corporate environmental data continues to rise.”Fossil fuel giant ExxonMobil has faced numerous investigations and lawsuits over its role in the global climate crisis. The company said it publishes environmental information through the framework developed by the Task Force on Climate-related Financial Disclosures (TCFD) and solicits feedback from shareholders.At Amazon, more than 7,600 employees recently backed a shareholder measure to push the company into developing an aggressive climate-fighting stance. (The effort failed. The company has said it will disclose its carbon footprint later this year.)Exxon said in an emailed statement that “we no longer participate in the Carbon Disclosure Project survey because our publicly available material provides a comprehensive and meaningful perspective on how we view and approach climate change-related risks.” Amazon, meanwhile, said it has set a “goal to reach 50% of all Amazon shipments with net zero carbon by 2030.”Volvo didn’t immediately respond to a request for comment.(Updates with Amazon comment in penultimate paragraph.)To contact the author of this story: Eric Roston in New York at email@example.comTo contact the editor responsible for this story: Josh Petri at firstname.lastname@example.org, David RovellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
ExxonMobil's (XOM) stock returns are the second worst among the six stocks we're analyzing (ExxonMobil, Chevron, BP, Shell, Total, and Suncor). ExxonMobil stock has fallen 2.5% in the past month since May 13. XOM has underperformed the SPDR S&P 500 ETF (SPY), which has increased by 3.0% in the same period.
The Zacks Analyst Blog Highlights: ExxonMobil, Chevron, Green Plains, Archer Daniels Midland and Bunge
Iran is ramping up enrichment of low-grade uranium and will pass the limit it is allowed to stockpile under the nuclear deal in 10 days, according to a spokesman for the Iran Atomic Agency. The announcement came after two fuel tankers were attacked in the Gulf of Oman on Thursday. Yahoo Finance's Adam Shapiro, Julie Hyman, Ethan Wolff-Mann and Brian Sozzi discuss.