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Exxon Mobil Corporation (XOM)
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Cleveland iron ore
starting to get the feeling that big money knows something...they are trying to keep a lid on XOM as long as they can to move their money, buy XOM as low as they can, before it runs to $75.
oil is going to be gold for a few years, covid is ending, pent up demand, and a divvy that may be increasing.
when this thing breaks out of the $57, big money knows $65 will be quick.
To hear all the simple theories about oil prices and profits....good lord, with it were that simple. One of the hardest things to do as a petroleum engineer is to forecast oil prices as part of the formula for revenue. To make it possible, oil companies go to the commodity market and sell future barrels. A maximim of 90% of what one produces, otherwise you are speculating (thanks Enron). Exxon does not get cash prices for all their production. What price are their barrels locked in at? What is the decline rate of their fields? What new wells coming on? Stimulations (acid jobs, frac jobs, water floods), new fields, risks overseas, currency, even the oil itself....not all oil gets that peak West Texas Intermediate, WTI price. Some are sour, some oils more viscous, etc... then issues with getting it to the refineries via pipelines, train, truck, ships. It’s a very complex business. The only rule of thumb we could ever come up with is buy when oil is in the dumpster for whatever reason, and sell when things look fantastic. Low prices drive up demand and high prices reduce demand. There is a lag from oil prices to stock price due to hedging mentioned above. Bottom line, oil companies make a great dividend play and are long term. Insiders own less than 1%. Not like a tech company where the CEO is worth $100 billion. The public owns oil companies....401ks, mutual funds, pensions, etc...
I hate to say the same thing again, but the key is really how the sale of North Sea assets effects earnings and cash flow. Because the increase in the price of oil is already baked into the rest of the price. But, if they cut a lot of expense by getting rid of their North Sea operations- then earnings and cash flow will soar.
Basically, they've been rotating out of Alaska, out of the North Sea - and placing bets on Guyana.
Total commercial petroleum inventories decreased by 2.8 million barrels last week... that says it all, ignoring the interruptions to refining/production of crude, gasoline and diesel prices are going to skyrocket...
Oil up almost 3% and this stock up 20 cents, why? All other oil stocks soaring.
XOM hit 82/share in 2019 and the first few months of 2019, oil averaged in the 40's........
Exxon Mobil price target raised to $81 from $75 at Merrill Lynch
Cleveland iron ore
breaking news....Gordon Geico scared XOM will be $65 in 2 weeks and rightfully so. He will have to buy back in at $59....sorry Gordon, Wall Street got you again.
was a good buy at 30, at 57 don't know and stock is way overbought.
In England and Europe ban of combustion cars in few years, big car makers like Volkswagen said already
that they will not produce combustion cars anymore in 5 years.
Focus is now already and will be even more on EV.
Private consumers and companies will not buy combustion cars anymore as they can not sell their cars anymore afterwards as no one will be buying used combustion cars in a few years if there will be a ban. And people who bought before the ban surely will have to pay high taxes or penalty fees to keep on driving with their combustion cars. Lot of people don't want to buy EV, but they will be forced to
Huge demand for oil from different sources will disappear
OPEC needs to hold to current production levels. They need to maximize present value of their reserves before left wing world governments by regulation and taxation drive their product out. They need to realize they are in an economic war and must maximize the value of their reserves for their populations via high short and intermediate prices since long term may be way different!
XOM...just gave cover for all the Bigs to buy more.....Financial discipline ........steady divy........high rated drilling....and now a green tint. What don't you love...want to buy bonds...I don't think so.
Exxon Mobil price target raised to $65 from $59 at Barclays
.......Cowen just raised there XOM target price to 55 from 48..... What kind of sense does it make?
How Exxon Could Send Its Stock Even Higher Next Week
Exxon Mobil will give investors an update on its business on Wednesday, and some analysts are getting bullish ahead of the event.
The narrative around Exxon (ticker: XOM) has changed dramatically in just the past two months. A company that seemed unable to adapt to the new oil market now seems to be one of Wall Street’s most compelling turnaround stories.
Although the stock dropped 3.2% to $53.99 on Friday morning amid a broader market selloff that dragged oil prices lower, the shares are up 30% this year. That outpaces the 24% gain in the Energy Select Sector SPDR exchange-traded fund (XLE).
Some analysts see a setup for more gains.
“Exxon analyst day event on March 3 is viewed as a catalyst rich event,” wrote Credit Suisse analyst Manav Gupta in a research note on Friday. “While we do not expect a tectonic shift, Exxon could make multiple tweaks that would be viewed positively.”
Barclays increased its target for the stock price to $65 from $59.
Exxon came into the pandemic with an aggressive plan to increase production at a time when other oil companies were cutting back, seeking to reduce their capital spending in response to disappointment among investors over returns in the industry over the past decade. Wall Street now prefers oil stocks that show less production growth but return more cash to shareholders.
Exxon has been changing its tune in recent weeks, reducing its operating budget and projections for capital spending. Given the spike in oil prices and those cost cuts, Exxon may be able to cover its dividend out of its cash flow for the first time in the past two years.
Gupta thinks investors will want word from Exxon at next week’s meeting that it is reducing capital expenditures even more.
Exxon plans to spend $20-$25 billion on capital expenses through 2025, but “bulls are hopeful the company could be persuaded to lower capex to $18-$20 billion,” Gupta wrote. “This would provide for greater dividend safety as well as faster pace of debt reduction, driving re-rating and dividend yield normalization (5.5% versus current 6.2%).”
Remember, the structure of their earnings will change significantly because they got rid of their North Sea assets. That will not only alter revenue, but it is going to cut their costs significantly. I'm no accountant, but expect EPS to be significantly higher.
The API reported a massive draw in gasoline inventories of 9.933 million barrels for the week ending February 26—after the previous week's 66,000-barrel build.
Would it make sense for XOM to buy NEE?
New Climate change board member will give momentum to this stock... $60s coming soon...
No administration is more poised to help XOM. Global warming policies will have $100/barrel before Labor day.
Target Raised by Wells Fargo Positive » Overweight USD 53 » USD 65
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