XOM - Exxon Mobil Corporation

NYSE - NYSE Delayed Price. Currency in USD
68.74
+1.13 (+1.67%)
At close: 4:04PM EDT
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Previous Close67.61
Open67.82
Bid67.56 x 800
Ask69.76 x 2900
Day's Range67.82 - 68.77
52 Week Range64.65 - 83.75
Volume9,955,143
Avg. Volume10,934,773
Market Cap288.584B
Beta (3Y Monthly)1.21
PE Ratio (TTM)16.56
EPS (TTM)4.15
Earnings DateNov 1, 2019
Forward Dividend & Yield3.48 (5.15%)
Ex-Dividend Date2019-08-12
1y Target Est79.14
Trade prices are not sourced from all markets
  • Oilprice.com

    Oil Industry Braces For Blowback From Exxon Scandal

    ExxonMobil goes on trial this week over allegations that it intentionally misled investors over the risk of climate change to the company’s earnings

  • Big Oil’s stalled response to climate change is straight out of Big Tobacco playbook, experts say, as Exxon suit to begin
    MarketWatch

    Big Oil’s stalled response to climate change is straight out of Big Tobacco playbook, experts say, as Exxon suit to begin

    As ExxonMobil heads to court this week for a New York suit accusing it of misleading investors about climate change, a team of researchers at George Mason, Harvard and Bristol universities tracked evidence of a decades-long campaign of deception.

  • This strategy beats a total stock market fund and gives you more diversification
    MarketWatch

    This strategy beats a total stock market fund and gives you more diversification

    Unfortunately, many advocates of total market funds don’t realize they aren’t fundamentally different from S&P 500 funds. As you probably know, the S&P 500 is made up of 500 of the largest publicly traded companies in the United States. Sure, there are 500 stocks in the index, and that should provide quite a bit of diversification.

  • Dow Jones Today: Stocks Get A Lift From Brexit, Chips; Opioid Case Settlement Reported
    Investor's Business Daily

    Dow Jones Today: Stocks Get A Lift From Brexit, Chips; Opioid Case Settlement Reported

    AMD and ASML Holding moved higher, big drug distributors pared losses after avoiding an opioid trial, and the Dow Jones today aimed to retake 27,000.

  • ExxonMobil Renews Support for MIT Energy Initiative’s Low-Carbon Research
    Business Wire

    ExxonMobil Renews Support for MIT Energy Initiative’s Low-Carbon Research

    ExxonMobil said today it extended its support of the MIT Energy Initiative’s (MITEI) low-carbon energy research and education mission by renewing its status as a founding member for another five years. ExxonMobil first signed on as a member of the initiative in 2014.

  • The Best Way To Invest In Modern Day Oil Exploration
    Oilprice.com

    The Best Way To Invest In Modern Day Oil Exploration

    While the days of massive oil finds may be over, there are still profitable ways to invest in exploration for new fields

  • GuruFocus.com

    Stocks That Fell to 3-Year Lows in the Week of Oct. 18

    Exxon Mobil, DuPont, Biogen and Carnival present buying opportunities Continue reading...

  • 5 prominent U.S. companies are most at fault for the earnings recession
    MarketWatch

    5 prominent U.S. companies are most at fault for the earnings recession

    With the S&P 500 suffering an earnings recession for the first time since 2017, a few big names deserve most of the blame.

  • Barrons.com

    ConocoPhillips Stock Looks Cheap After a Selloff

    The exploration and production company’s shares look cheap. That should change as investors discern its good prospects and shareholder-friendly blueprint for the future.

  • Oilprice.com

    Bearish Sentiment Takes Hold Of Oil Markets

    Oil prices were down on Friday morning as worrying fundamentals and economic uncertainty boosted bearish sentiment further

  • Bloomberg

    Aramco IPO Hangs on Same Old Question: Is It Worth $2 Trillion?

    (Bloomberg) -- The trouble with Saudi Aramco’s off-again, on-again initial public offering has always been the valuation. Ever since Crown Prince Mohammed bin Salman insisted the world’s largest oil producer was worth $2 trillion in 2016, he’s been determined to prove the skeptics wrong.His optimism met the reality of the global capital markets on Thursday, when the latest plan to float the state-owned company was delayed by at least a few weeks.At a meeting to give a green light for a deal, bankers made clear that international investors had little appetite to buy at a $2 trillion valuation, according to people familiar with the matter. To draw widespread interest Aramco’s value would need to be closer to $1.5 trillion, one of the people said, asking not to named discussing private conversations.What happens now will depend on how keen the crown prince is to attract foreign money to the Aramco offering and whether he’s finally willing to compromise on the valuation to get it.The outlook for what could be the largest IPO ever is likely to dominate Future Investment Initiative at the end of the month, Saudi Arabia’s annual showcase for the crown prince’s economic agenda that’s been dubbed Davos in the Desert. Many of the Wall Street banks hired to work on the IPO will send senior executives to Riyadh, where they’ll rub shoulders with the crown prince and the rest of the Saudi leadership as well as some of the world’s largest investors.Aramco said in a statement that the timing of the IPO will depend on market conditions and that it continues to engage with shareholders on activities related to the listing. One leading international money manager, who recently met Aramco executives in Saudi Arabia to discuss the IPO, said the main problem is officials in Riyadh believe Aramco should trade at a premium to other international oil companies. Many investors disagree and argue the risks of investing in Saudi Arabia merit a discount -- or at very best parity -- to the likes of Exxon Mobil Corp. and Royal Dutch Shell Plc.There’s little question Aramco merits a unique valuation. Drilling from some of the world’s largest fields under the barren Saudi desert, the company pumps more than twice the volume Exxon does and has some of the lowest production costs in the world.But there are also concerns for potential Aramco investors that don’t apply to Exxon, Shell and their ilk. Last month’s attack on the company’s largest crude processing plant at Abqaiq showed the political risk associated with the kingdom. There are also governance issues: the IPO would offer only a sliver of Aramco’s equity, leaving strategy in the hands of the Saudi state. As OPEC’s most important member, Saudi oil production would remain a political decision.One rough and ready way to value Aramco is to look at dividend yield. As part of the campaign to attract outside investors, Aramco pledged to soup up investor payments to $75 billion next year. At $2 trillion that means a dividend yield of 3.75%. That’s a lot less than the 5.1% currently offered by Exxon and the 6.6% Shell shareholders are getting.Bringing the dividend into line with Exxon would mean a valuation that’s much closer to $1.5 billion. If Saudi Arabia accepted that benchmark, it would still create the world’s most valuable company -- outstripping both Apple Inc. and Microsoft Corp. -- and a sale of 2% of the equity would yield $30 billion, more than the $25 billion Chinese e-commerce giant Alibaba Group Holding Ltd. raised in its 2014 IPO.If the crown prince doesn’t want to compromise on valuation, he has another option to get the deal done and raise money for the kingdom’s sovereign wealth fund. He can rely on Saudi money by securing big pledges from rich Saudi families -- some of whom had members held in the Ritz-Carlton hotel during 2017’s corruption clampdown -- pitching a retail offering to small investors and leaning on banks to lend to potential buyers.Even though it ditched plans for an international listing in New York or London, the Saudi government is still keen to get some foreign institutions to invest, one person involved in the deal said.To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net;Matthew Martin in Dubai at mmartin128@bloomberg.net;Javier Blas in London at jblas3@bloomberg.netTo contact the editors responsible for this story: Will Kennedy at wkennedy3@bloomberg.net, Ben ScentFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Exxon Stock Offers Tremendous Value and a Great 5.1% Dividend Yield
    InvestorPlace

    Exxon Stock Offers Tremendous Value and a Great 5.1% Dividend Yield

    It has been a glum time for ExxonMobil (NYSE:XOM) shareholders. Regardless of whether you're looking at the past one year, five years, or ten years, XOM stock has been stuck in the mud. You'd have to go back to before the Great Financial Crisis since XOM stock made investors significant money.Source: Shutterstock As is often the case, however, the longer a stock trades sideways, the bigger its next move will be. XOM stock has now traded largely flat for a decade, swinging up and down but generally remaining near the $75/share mark. When it finally gets going again, expect a huge move. * 7 Reasons to Buy Canopy Growth Stock Technically, Exxon stock is primed to explode upward once it starts accelerating. Here's why Exxon's next move will be upward, and probably dramatically so.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Exxon Mobil's Huge Growth PlansInvestors tend to think of the oil and gas companies being hunkered down for a long winter, and that's generally right. As the oil slump has entered year five, many smaller firms are drastically cutting down exploration and drilling expenses. In a world of $55/barrel oil, it doesn't make sense for small operators to try to increase production.This leaves a big opportunity for companies with more scale and cheaper access to capital like Exxon Mobil. The company can, and is, making efforts to greatly improve its production in coming years. Management realizes that the world is going to need more oil. Once the current shale boom loses steam in the U.S., we'll need another round of fresh supply to replace declining reserves elsewhere.Enter Exxon, with its multi-billion dollar projects to open new production fields in places like Guyana. In fact, Exxon is getting aggressive. They are aiming to double cash flow and earnings in coming years. With so many other players pulling back their spending, Exxon with its fortress balance sheet will profitably pick up the slack. Oil May Be Peaking, But It Isn't Going Away Anytime SoonMany folks seem to confuse Exxon's (very) long-term prospects with its ability to carry on in coming years. Some analysts project that if current trends hold, by around 2050, we may see renewable energy displace fossil fuels in making up a large portion of the electric grid. And the crossover point for electric vehicles could be relatively sooner -- say in the 2030s. Exxon is well aware of this, and management has invested heavily in research for next-generation energy solutions.The fact that renewables will be growing in future decades hardly matters to XOM stock tomorrow, or even ten years from now. By 2040, the 2019 Energy Outlook estimates (see slides 11 and 13) that wind, nuclear, solar, and other renewables will still be less than one-fifth of the world's global energy supply. Even dirty coal will remain a key though shrinking player, while oil demand will be about flat, and natural gas use will continue to rise. XOM Stock Dividend Is Rock-SolidXOM stock is currently offering a more than 5% dividend yield. This is the highest dividend that the company has provided in three decades. Even in the Great Financial Crisis, XOM stock paid far less. Also, in the late 1990s, when oil was just $15/barrel, XOM stock only paid a 2-2.5% dividend. Now it pays double that.The higher dividend yield is the result of investor apathy, along with many socially-responsible funds dumping their allocations to fossil fuels altogether. Oil and gas appear to be becoming like tobacco stocks in the 1990s, shunned by investors who felt the companies were "obsolete" and harmful morally. Regardless of those concerns, cigarette companies like Altria (NYSE:MO) went on to post world-beating returns while giving off fat dividend yields.Exxon stock could perform similarly going forward. The world will need plenty of oil for at least a few more decades, and Exxon has the balance sheet to keep its dividend secure. At an AA+ credit rating, Exxon is one of the highest-rated companies out there; it could pay off its debt with just a year or two of profits if needed.As for the dividend, based on an average of recent years, Exxon's cash flow covers its payout more than three times. This indicates that the company has more than enough ongoing operations, even at relatively low oil and gas prices, to pay the 5% dividend indefinitely. And with growth projects coming online, the company will be able to continue hiking the dividend even more in coming years. XOM Stock VerdictI've been buying Exxon stock gradually over the past year. And with the recent dip under $70/share, I've gotten more aggressive in picking up shares.Admittedly, there's no imminent catalyst for Exxon shares to take off. The oil market is currently in a slump, and natural gas is oversupplied as well. Exxon's refining business is steady, and is generating large profits. That said, until oil or natural gas -- preferably both -- see an uptick, XOM stock might stay down around $70. That's true of other high-quality oil and gas stocks like Chevron (NYSE:CVX), BP (NYSE:BP), and Canadian Natural Resources (NYSE:CNQ) as well.Once prices start to lift, however, XOM stock will skyrocket. Remember that the company is planning to double earnings and cash flow over the next five years from increasing production from low-cost new areas such as Guyana. This should lift earnings to $9/share.Throw in some help from higher oil and gas prices, and EPS will reach the double digits. At the current $70/share price, that'd be a 7x P/E ratio, or less. Even a $100 share price would be no more than 10x earnings. Add in that outsized dividend yield and things look even better. Buy now, and enjoy the 5% dividend with a strong chance of big share price appreciation over the next few years as well.At the time of this writing, Ian Bezek owned XOM, BP, and CNQ stock. You can reach him on Twitter at @irbezek. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Reasons to Buy Canopy Growth Stock * 7 Restaurant Stocks to Leave on Your Plate * 4 Turnaround Plays to Buy Now The post Exxon Stock Offers Tremendous Value and a Great 5.1% Dividend Yield appeared first on InvestorPlace.

  • Things You Should Know About the EIA Crude Inventory Report
    Zacks

    Things You Should Know About the EIA Crude Inventory Report

    The federal government's EIA report revealed that crude inventories rose by 9.3 million barrels, compared to the 4 million barrels increase that energy analysts had expected.

  • Saudi Aramco to Delay Launch of Its Initial Public Offering
    Bloomberg

    Saudi Aramco to Delay Launch of Its Initial Public Offering

    (Bloomberg) -- Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman.The postponement, by at least a few weeks, will allow the array of Wall Street bankers advising Aramco to incorporate third-quarter results into their pre-IPO assessments of the company, according to people briefed on the situation. The banks are still struggling to meet the valuation the company is seeking, according to one of the people, who asked not to be named discussing private deliberations.Aramco, which pumps about 10% of the world’s crude oil, said in a statement that the timing of the IPO will depend on market conditions and that it continues to engage with shareholders on activities related to the listing.The sudden delay disrupts the carefully choreographed plan to launch the share sale on Oct. 20, followed a week later by intense promotion during the country’s big investment forum -- dubbed Davos in the Desert -- and ending with an IPO in late November. Now, a listing is unlikely before December or perhaps January.Last year, Aramco delayed the IPO after more than two years of preparations as international investors balked at the crown prince’s $2 trillion valuation.This time Saudi Arabia opted for an easier route, deciding to start with a local listing only in Riyadh -- ditching plans for a sale in London or New York -- and enlisting local banks and wealthy families to support the IPO.The Saudi government had seemed determined to press on with an accelerated schedule even in the face of potential headwinds: weak oil prices, a slowing world economy and last month’s attack on the company’s biggest processing plant.While details of the proposed offer haven’t been made public, people involved in the transaction said earlier this month that about 2% of Aramco might be sold, raising $40 billion and easily exceeding the $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd.Ever since the Crown Prince first mooted the the IPO of the kingdom’s most prized assets in early 2016, Aramco’s valuation has been contentious. Many analysts have said that $2 trillion is too much compared with similar publicly traded companies.Aramco may well be the world’s most valuable company, but based on the dividend yield received by investors in Exxon Mobil Corp., the largest U.S. oil company, its valuation would be closer to $1.5 trillion.The Sept. 14 attack on its oil facilities disrupted output and sent shock waves through energy markets, triggering the biggest one-day jump in Brent crude prices on record and stoking security concerns. Investors are already demanding a premium to hold the country’s debt, downgraded this month by Fitch Ratings Ltd.While advisers had been working on announcing an intention to float for Oct. 20, executives hadn’t given a firm timeline in public. Aramco Chief Executive Officer Amin Nasser said last month that the IPO would happen “very soon.”The IPO promises to be a fees bonanza for the more than two dozen advisers working on the share sale, with Aramco set to pay them $350 million to $450 million, people familiar with the matter said Wednesday.The delay to the IPO’s launch was reported by the Financial Times earlier.\--With assistance from Javier Blas, Simon Casey, Matthew Martin and Dan Murtaugh.To contact the reporters on this story: Will Kennedy in London at wkennedy3@bloomberg.net;Dinesh Nair in London at dnair5@bloomberg.netTo contact the editors responsible for this story: Stuart Wallace at swallace6@bloomberg.net, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Behind The List: No. 1 energy employer in Houston sees drop in global revenue
    American City Business Journals

    Behind The List: No. 1 energy employer in Houston sees drop in global revenue

    Despite its No. 1 spot on the Houston Business Journal's 2019 Largest Houston-Area Energy Employers List, Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM) has seen a large drop off in global revenue since 2014. The company reported a global revenue of $279.33 billion in 2018, a 32 percent decrease since 2014, when it reported $421.11 billion in global revenue. The company’s lowest reported revenue was in 2016, when it reported $218.61 billion.

  • Financial Times

    Oil services providers eye low-carbon transformation

    and government net zero targets are all piling pressure on Big Oil to reduce carbon dioxide emissions by shifting towards renewable energy. Critics have condemned the industry's response as insufficient, with even the most progressive oil majors devoting only a fraction of their research and development expenditure to low carbon tech.

  • Reuters

    UPDATE 2-Big U.S. liquefied natgas players move fast; smaller ones try to keep up

    NEW YORK/LONDON, Oct 17 (Reuters) - A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals with fewer long-term contracts, while smaller developers struggle to find financing for their first plants. LNG trade has traditionally been underpinned by long-term purchasing deals which finance multi-billion dollar terminals that liquefy natural gas by chilling it to -260 degrees Fahrenheit (-160 Celsius), load it onto ships, and regasify it when delivered. "The industry is moving away from long-term agreements to justify construction of a new facility to a true commodity business," said Charif Souki, co-founder and Chairman of Tellurian Inc.

  • Reuters

    Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens

    U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia's ESPO Blend oil sent buyers back to U.S. grades, according to market sources. Oil shipping costs for United States Gulf Coast to Asia cooled this week from record highs on the prospect of more vessels becoming available.

  • Reuters

    CORRECTED-(OFFICIAL)-UPDATE 1-Big U.S. liquefied natgas players move fast; smaller ones try to keep up

    NEW YORK/LONDON, Oct 17 (Reuters) - A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals with fewer long-term contracts, while smaller developers struggle to find financing for their first plants. LNG trade has traditionally been underpinned by long-term purchasing deals which finance multi-billion dollar terminals that liquefy natural gas by chilling it to -260 degrees Fahrenheit (-160 Celsius), load it onto ships, and regasify it when delivered. The growing prowess of oil majors such as Exxon and recent entrants such as Cheniere and trading houses means there are aggregators that can supply buyers more flexibly, making it harder for smaller players.

  • Reuters

    Big U.S. liquified natgas players move fast, the small race to keep up

    NEW YORK/LONDON, Oct 17 (Reuters) - A gap is emerging in the U.S. liquefied natural gas (LNG) industry as big players such as Exxon Mobil Corp and Cheniere Energy Inc race ahead to build export terminals without new long-term contracts, while smaller developers struggle to find financing for their first plants. LNG trade has traditionally been underpinned by long-term purchasing deals which finance multi-billion dollar terminals that liquefy natural gas by chilling it to -260 degrees Fahrenheit (-160 Celsius), load it onto ships, and regasify it when delivered. "The industry is moving away from long-term agreements to justify construction of a new facility to a true commodity business," said Charif Souki, co-founder and Chairman of Tellurian Inc.

  • GuruFocus.com

    US Indexes Close Lower Wednesday

    S&P; 500 down 0.20% Continue reading...

  • Dow Jones Today: Retail Worries Take A Toll
    InvestorPlace

    Dow Jones Today: Retail Worries Take A Toll

    After a strong earnings-driven rally yesterday, U.S. equity benchmarks gave back some of those gains Wednesday following some slack retail sales data.Source: Venturelli Luca / Shutterstock.com Retail sales dipped 0.30% in September, disappointing analysts that had been forecasting a 0.30% increase. In better news, the Commerce Department revised the August figure to a gain of 0.60%, but as stocks' performance today indicates, market participants focused more on the September number, a logical approach considering the holiday shopping season is essentially upon us.I've been reluctant to join the calls regarding a recession, but I've also been clear that the consumer is integral when it comes to holding things together for the U.S. economy. Another bit of silver lining is that the September retail sales figure was the first decline in seven months and that the decline was largely attributable to spending drops at motor vehicle supply stores.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAmong Dow components, looming earnings reports from the likes of Apple (NASDAQ:AAPL), Home Depot (NYSE:HD), McDonald's (NYSE:MCD) and Walt Disney (NYSE:DIS) should bring the state of the consumer into clearer view.For today, the Nasdaq Composite dropped 0.30% while the S&P 500 declined 0.20%. The Dow Jones Industrial Average retreated by 0.08% with just 12 of its 30 components higher in late trading.Johnson & Johnson (NYSE:JNJ) was the only Dow stock to gain more than 1% today on what looked liked some follow through on Tuesday's earnings report as well as some favorable reaction to some of the various opioid-related verdicts the company is contending with. Other Bright SpotsIn late trading, JPMorgan Chase (NYSE:JPM), the largest U.S. bank by assets, was clinging to a modest gain. This might be another example of follow through on yesterday's earnings report as well as a sympathy move on the back of Bank of America's (NYSE:BAC) strong report out earlier today. * 10 Buy-and-Hold Stocks to Own Forever "Given the fact that multiple rate cuts have already occurred, with the possibility for more, this was not surprising," said Morningstar in a note on JPM out yesterday. "Management also nailed down its expense guidance a bit more, coming in at roughly $65.5 billion, whereas before the guidance was simply for less than $66 billion. After incorporating these and other changes, we are increasing our fair value estimate to $114 per share from $110." Finally Some Good NewsShares of 3M Co. (NYSE:MMM) traded lower today, extending the stock's run as one of this year's worst-performing Dow names, but the stock is up more than 8% over the past week and some analysts are waxing bullish on the industrial conglomerate."Even after the 4% bounce on Oct. 11, we still believe the stock trades at a discount to intrinsic value in a diversified industrial space with few bargains," said Morningstar in a recent note on 3M. "As a GDP-plus business, 3M doesn't offer much in the way of top-line growth. Even so, we like the name with speculation of an upcoming recession because 3M is a defensive stock." Oil WoesWhile there was some talk that the Organization of the Petroleum Exporting Countries (OPEC) may extend recent supply cuts, Exxon Mobil (NYSE:XOM) and Chevron (NYSE:CVX) were the worst performers in the Dow Jones today.Big oil companies report third-quarter earnings later this month, but some analysts are already warning that estimates could be missed and that could explain some of the malaise in the group today. This year, energy is the worst-performing group in the S&P 500. * 7 Big Bank Stocks on the Move Bottom Line on the Dow Jones TodayReminder that International Business Machines (NYSE:IBM) reports today after the bell and that tomorrow is light on the Dow earnings front with none of the index's members report. American Express (NYSE:AXP) and Coca-Cola (NYSE:KO) resume Dow earnings season on Friday before the bell.As for the consumer, there are some good data points to consider."Perhaps the biggest difference versus last cycle: consumers are less indebted. On the eve of the financial crisis consumers were contending with record levels of debt," according to BlackRock. "At its peak in 2007, household debt was more than 130% of disposable income. Today household debt is less than 100% of income. Not only are debt levels lower, but thanks to historically low yields the cost of servicing the debt is near an historic low."As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks to Buy (With Brands You Can Find In Your Kitchen) * 7 Hot & Trendy Generation Z Stocks to Buy * 5 Stocks to Buy in the Mighty Middle The post Dow Jones Today: Retail Worries Take A Toll appeared first on InvestorPlace.

  • Are Investors Falling Out of Love With Oil & Gas Mergers?
    Zacks

    Are Investors Falling Out of Love With Oil & Gas Mergers?

    Investors want the oil and gas companies to reduce costs, improve internal efficiencies, raise share repurchases and increase returns.

  • Saudi Aramco to delay launch of its IPO
    Yahoo Finance Video

    Saudi Aramco to delay launch of its IPO

    According to recent reports, Saudi Aramco has delayed its massive IPO until at least December. Aramco had been expected to announce plans next week, in what would have been one of the largest ever IPOS, worth upwards of $20 billion dollars. Yahoo Finance's Dan Roberts, Heidi Chung, Kristin Myers and Scott Gamm discuss on YFi AM.