|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||81.25 - 81.93|
|52 Week Range||72.16 - 89.30|
|PE Ratio (TTM)||17.07|
|Earnings Date||Jul 27, 2018|
|Forward Dividend & Yield||3.28 (3.96%)|
|1y Target Est||89.86|
Traders are watching for fallout from Trump's comments on the dollar. President Donald Trump made plenty of headlines in the past week, and fallout from some of those could appear in the week ahead. Trump on Thursday and Friday criticized China and Europe for driving down their currencies at the expense of the dollar.
Baltimore on Friday become the latest U.S. city to try and hold the world's biggest oil companies financially responsible for global warming, asserting it faces massive costs to effectively protect its residents, businesses and infrastructure from the escalating impacts of climate change. The litigation by Baltimore, wrapped around a cove of the Chesapeake Bay, comes as skeptical judges elsewhere have been throwing out headline-generating complaints brought by other cities that sought to force big oil companies to pay for climate change adaptation. On Thursday, a U.S. judge rejected New York City's lawsuit targeting oil companies, saying the issue must be addressed by Congress and the executive branch.
Exxon Mobil (XOM) will report earnings a week from Friday, but JPMorgan's Phil Gresh warns that even though expectations aren't very high, the second quarter will probably still not provide the "panacea" for the energy giant's woes. Exxon has slipped 2.8% year to date, underperforming other oil majors such as Chevron (CVX) and ConocoPhillips (COP), along with the Energy Select Sector SPDR ETF (XLE), which is up 3.6% since the start of 2018. Gresh reiterated a Neutral rating and an $88 price target on the shares today, writing that his earnings estimates are in line with consensus, but that "it feels like upside could be fairly limited." He writes that on the upstream (exploration) side, earthquake-recovery efforts likely hurt volumes, prices, and cash flows at the PNG LNG project that Exxon is spearheading, while maintenance and production issues in areas from Canada to Kazakhstan may also weigh on the quarterly results.
In this series, we’ve examined BP’s Q2 2018 estimates, segmental outlook, stock returns, and stock price estimate range prior to its earnings release on July 31, 2018. BP has been rated by a total of 11 Wall Street analysts. This could result in the rise in the company’s hydrocarbon production in the year.
Since May 15, ExxonMobil’s (XOM) short interest as a percentage of outstanding shares has fallen from 0.87% to 0.74%, implying reduced bearishness. Meanwhile, its stock has risen 1.9%. Sentiment may be improving due to ExxonMobil’s earnings being expected to rise in the second quarter, touching a three-year high.
The ExxonMobil-operated Papua New Guinea gas project has agreed a deal to supply liquified natural gas (LNG) to PetroChina Co Ltd, Australia's Oil Search Ltd, a partner in the project, said on Friday. The three-year deal is for the supply of about 0.45 million tonnes of LNG a year to PetroChina International (Hong Kong) Corp Ltd (PCI), Oil Search said in a statement.
A federal judge in Manhattan dismissed New York City’s lawsuit against five major oil companies Thursday, ruling that climate change and its effects are global issues that extend beyond the court’s reach. Lawsuits filed by the cities of Oakland and San Francisco against the same five companies, which also sought relief for the costs of addressing climate change, was tossed last month.
A federal judge on Thursday threw out a lawsuit brought by New York City against Exxon Mobil, Chevron and other oil companies for their role in contributing to climate change.
Let’s now look at analysts’ ratings for ExxonMobil (XOM), which is set to release its second-quarter results on July 27. Of the 21 analysts covering XOM, seven (33%) recommend “buy” or “strong buy,” 12 (57%) recommend “hold,” and two (10%) recommend “sell” or “strong sell.”
In this part, we’ll forecast ExxonMobil’s (XOM) stock price based on its implied volatility up until its earnings release, which is slated for July 27. While ExxonMobil’s implied volatility has risen by 1.3 percentage points in the past month to 17.3%, its stock price has risen 2.2%.
ExxonMobil (XOM) stock declined in the first quarter, driven by broader market weakness and the company’s lower-than-expected Q4 2017 results, leading to its 50-DMA (day moving average) falling below its 200-DMA. In the second quarter, XOM’s 50-DMA rose with its stock price, reducing the gap between its 50-DMA and 200-DMA. Better oil prices and market recovery supported XOM’s stock price and 50-DMA.
Moody's Investors Service, ("Moody's") has today affirmed the A1 guaranteed senior secured debt ratings of Ras Laffan Liquefied Natural Gas Co.Ltd (II) (RasGas II) and Ras Laffan Liquefied Natural Gas Co.Ltd (3) (RasGas 3), together RasGas II-3. The outlook has been changed to stable from negative.
Previously, we examined ExxonMobil’s (XOM) segment-wise outlook for Q2 2018. In this part, we’ll review ExxonMobil’s stock performance before its Q2 2018 results release.
Let’s look at how ExxonMobil’s (XOM) segments performed in Q1 2018. YoY (year-over-year), its adjusted upstream earnings rose from $2.252 billion to $3.497 billion due to crude oil prices rising. Brent rose YoY from $54 to $67 per barrel.
Equatorial Guinea has told petroleum operators including Exxon Mobil to cancel contracts they have with Canadian-based CHC Helicopter for failing to implement local content laws meant to create jobs, the oil ministry said on Wednesday. OPEC member and Africa's third-largest oil producer, Equatorial Guinea's national content regulations of 2014 state that agreements must make provisions for capacity building and give preference to local companies when awarding service contracts. "These laws are in place to protect and promote local industry, create jobs for citizens... and we are aggressively monitoring and enforcing compliance of these requirements," said Gabriel Mbaga Obiang Lima, the minister of mines and hydrocarbons in a statement.
ExxonMobil (XOM) is expected to post its Q2 2018 results on July 27. Before we look at its Q2 2018 estimates, let’s review its Q1 2018 performance.
Crude oil is in a tailspin on fears global surpluses could flood the market. With oil companies under pressure, one technical analyst is recommending an energy heavyweight to ditch, and another that looks like a buy. “The charts are mixed for the overall sector so I think really selection is key,” Ari Wald, head of technical analysis at Oppenheimer, told CNBC’s “ Trading Nation ” on Monday.
The Energy Select Sector SPDR (XLE) , the largest equity-based energy ETF, is up about 5% year-to-date, but XLE and rival energy ETFs will be tested as the sector's second-quarter earnings reports start rolling in. “Q2 estimates moved up modestly since the quarter got underway, but the positive revisions were primarily because of the Energy sector. Excluding the Energy sector, estimates for the quarter would be modestly down in the last 10 weeks,” according to Direxion.
Financial stocks jumped on Monday although the broader market struggled, as impressive economic data and quarterly results failed to boost investors??? confidence.
This could indicate that investors who seek to profit from falling equity prices are not currently targeting XOM. Over the last one-month, outflows of investor capital in ETFs holding XOM totaled $1.29 billion.
Investing.com - Energy stocks were the biggest drag on the U.S. market Monday as oil prices tumbled on expectations Iran supply disruptions may be averted.
Chesapeake Energy Corporation ( CHK) shares fell more than 5% on Monday after Libyan production sent crude oil prices sharply lower. After crude oil's significant rally over the past year, the market was ripe for a correction, and the reopening of four ports in Libya was enough to offset early strength from a drop in U.S. production. Chesapeake Energy was one of the worst hit companies, but energy stocks experienced a broad decline.
As earning season gets underway several blue chip Dow Jones stocks are nearing buy points after building bullish bases. Apple, Boeing, American Express, Exxon Mobil and Home Depot could make strong gains in the coming weeks.
Papua New Guinea’s natural gas reserves were once the envy of the world, but now the small country faces more hardships than success stories