81.68 -0.11 (-0.13%)
After hours: 6:19PM EDT
|Bid||81.63 x 1400|
|Ask||81.68 x 800|
|Day's Range||80.80 - 81.89|
|52 Week Range||64.65 - 87.36|
|Beta (3Y Monthly)||1.04|
|PE Ratio (TTM)||16.76|
|Earnings Date||Apr 25, 2019 - Apr 29, 2019|
|Forward Dividend & Yield||3.28 (4.05%)|
|1y Target Est||83.99|
It was just after midnight on March 24, 1989, when an Exxon Shipping Co. tanker ran aground outside the town of Valdez, Alaska, spewing millions of gallons of thick, toxic crude oil into the pristine Prince William Sound. The world watched the aftermath unfold: scores of herring, sea otters and birds soaked in oil, and hundreds of miles of shoreline polluted. Commercial fishermen in the area saw their careers hit bottom.
Mozambique, one of the world's poorest nations, is set to become a top global gas exporter thanks to two huge terminals about to be built in a northern province. The two liquefied natural gas (LNG) projects, by Anadarko and Exxon Mobil, will extract, liquefy and ship gas, found in such quantities offshore Mozambique that it amounts to a decade's worth of European consumption. Exxon will use its might as a decades-old LNG producer with a 20-million-tonne portfolio to partially pay for the project and absorb the LNG - together with its equally hefty partners.
Will Suncor’s Shareholder Returns Continue to Rise?(Continued from Prior Part)Institutional holdings in Suncor In the previous article, we reviewed Suncor’s (SU) forecast range based on its implied volatility. Now, let’s look at which
The intention for merger with SM Energy (SM) reflects Carrizo's (CRZO) focus to realize cost synergy amid intense competition in the prolific Permian basin.
Valvoline's (VVV) instant oil change service centers provide tire rotation, preventive maintenance services and replacement of safety parts.
With the recent giant discoveries of the Tamar, Zohr and Leviathan fields in the East-Mediterranean, both Egypt and Israel are vying to become the region’s next energy hub
Will Suncor’s Shareholder Returns Continue to Rise?(Continued from Prior Part)Suncor’s valuations Suncor Energy (SU) is trading at a forward PE multiple of 17.3x, higher than the peer average of 13.1x. ExxonMobil (XOM), Chevron (CVX), and
ALGIERS/LONDON, March 20 (Reuters) - Talks between Exxon Mobil and Algeria to develop a natural gas field in the North African country have stalled because of unrest, industry sources said, the first economic fallout from the almost month-long anti-government protests. Irving, Texas-based Exxon entered talks with Algeria's national oil company Sonatrach several months ago to develop a field in the southwestern Ahnet basin, the sources close to the discussions said.
In New Mexico's Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry's notorious boom-and-bust cycles. The sprawling site reflects the massive commitment to the Permian Basin by oil majors, who have spent an estimated $10 billion buying acreage in the top U.S. shale field since the beginning of 2017, according to research firm Drillinginfo Inc. The rising investment also reflects a recognition that Exxon, Chevron, Royal Dutch Shell and BP Plc largely missed out on the first phase of the Permian shale bonanza while more nimble independent producers, who pioneered shale drilling technology, leased Permian acreage on the cheap.
ExxonMobil's (XOM) expansion to include addition of three LNG trains with a capacity of 2.7 mtpa each on the existing PNG LNG plant site.
Just in time for summer driving season, oil prices are moving up again.Source: Shutterstock Brent North Sea crude, the global standard, is selling for over $67 per barrel. West Texas Intermediate (WTI), the primary U.S. grade, is over $59. At Christmas Brent was at $50, WTI at $42.What's driving prices higher is a curb in Saudi exports, the complete collapse of Venezuela, and lower short-term forecasts for U.S. shale production.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAnalysts now say oil majors like Exxon Mobil (NYSE:XOM), which I wrote about last month, are now in position to become the new OPEC. They are taking control of Permian production from independents and driving the global price.Maybe they can become the new OPEC. But all OPECs have a sell-by date. * Top 7 Service Sector Stocks That Will Pay You to Own Them The Second Fracking Boom and Oil PricesI've written many times this decade about how the 2010s are a reversal of the 1970s, when OPEC took command of the market, backed by U.S. arms.This time it's U.S. technology, specifically fracking, pioneered by an oilman I interviewed back in 1980, the late George Mitchell, which is taking over. Fracking first produced a natural gas glut in the Appalachians. Now it's producing an oil glut in West Texas, where conventional wells that just sucked oil from the ground had been depleting for decades.You can find the story on the Energy Information Agency Web site. New wells are producing more fracked oil and gas every year, and there are more of them, while "legacy" production continues to fall. U.S. oil production has more than doubled in this decade and continued to rise even after prices busted in 2014.The price bust destroyed small producers like Sanchez Energy (NYSE:SN), which grew on debt when times were flush but now faces de-listing. Oil majors that husbanded capital during the boom, and through the early years of the bust, like Chevron (NYSE:CVX), picked up some bargains. Today's Permian producers can make money at $26 per barrel, half what the product is going for.The only limit seems to be pipeline infrastructure. Kinder Morgan (NYSE:KMI) is getting pipelines out as fast as it can but in the near term supply is constrained. Natural gas is being flared, or being burned off at the wellhead, at a rate not seen since the height of the boom. Alternative Energy and Oil PricesThe latest oil boom comes 40 years after the Iranian revolution and the second oil shock.But there's growing competition for oil and gas from renewable energy.Solar energy can now be produced at 13-17 cents per kilowatt hour, without federal subsidies. Wind power is even cheaper. Spot prices for electricity in Texas can now turn negative when the weather is right.Storage has been the limit for renewables, but breakthroughs in storage technology such as fuel cells are being announced every day.The cheapest renewable energy remains efficiency. Thanks to higher mileage cars, LED light bulbs, better appliances, and intelligence in devices using energy, U.S. electricity demand is only now breaking through its 2007 peak .The thumb holding prices down gets bigger every year. The Sun shines, the wind blows, and we live on a molten rock. There is no energy shortage. The Bottom Line on Oil PricesSince the start of 2019 shares in Exxon Mobil are up 18%, and those of Chevron are up 14%. Given the recent good news from the oil patch these shares can continue to rise through the summer.But the end of the boom is already in sight. Venezuela will come back online. The Saudis' ability to limit production is limited. Iran wants back into the market. U.S. reserves have doubled, thanks to fracking. New oil discoveries are being made around the world, even in areas where demand is rising, like India.More important is that renewables, especially efficiency, are going to keep working their magic. The only thing keeping oil and gas competitive today is 100 years of infrastructure. That can be replaced in the next 10.That's why the gains in these stocks are as small as they are. Oil is a commodity for which demand is slowly falling, for which supply is starting to look unlimited.That's not a good long-term outlook for prices.Dana Blankenhorn is a financial and technology journalist. He is the author of a new mystery thriller, The Reluctant Detective Finds Her Family, available now 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 * 2 Toxic Pot Stocks You Should Avoid * 7 Financial Stocks to Invest In Today * 7 Single-Digit P/E Stocks With Massive Upside * 5 Chip Stocks on the Rise Compare Brokers The post Oil Prices Are Running up for the Last Big Oil Boom appeared first on InvestorPlace.
Earlier this week , we looked at the top 10 dividend-yielding stocks among our Ultimate Stock Pickers, a collection of managers whose stock-picking prowess we admire. A subset of the Morningstar US Market Index (which represents 97% of equity market capitalization), this index tracks the top 75 high-yielding stocks that meet our screening requirements for quality and financial health. How are the index constituents chosen?
MOSCOW (Reuters) - Exxon Mobil's Russian unit may take a decision this year on the Front End Engineering Design (FEED) for its Far East Liquefied Natural Gas project with Rosneft, Alexander Popov, vice ...
Anti-government protests in the North African country of Algeria intensified last weekend and industry watchers are already drawing parallels with its eastern neighbor Libya
Chevron Stock Rises, Commands Premium Valuations(Continued from Prior Part)Chevron’s stock performanceChevron (CVX) stock has risen 13% since January 2—the beginning of the first quarter. During the quarter, the SPDR S&P 500 ETF (SPY),
ExxonMobil said today that it is providing $300,000 to aid agencies to support disaster relief and recovery efforts in Mozambique following Cyclone Idai, which made landfall on March 14. Of this amount, $250,000 will be contributed to the American Red Cross for ongoing rescue efforts and for food, shelter and comfort for the storm’s victims.
Chevron Stock Rises, Commands Premium ValuationsChevron’s valuations Chevron (CVX) trades at a forward PE ratio of 16.8x, which is above the peer average of 13.0x. ExxonMobil (XOM), PetroChina (PTR), and Suncor Energy (SU) also trade above the
Higher Oil Prices Have Boosted BP Stock 10% in Q1(Continued from Prior Part)BP’s valuations Earlier, we discussed BP’s (BP) short interest trend. In this article, we’ll examine BP’s forward valuations compared to those of its peers.
While we do not offer strategies that focus in this area, we do pay close attention to issues of sustainability because they may be a key to a company's resilience over the long term. Some investors see the energy sector as the antithesis of sustainability, but we see things differently. Environmental concerns--air quality, water quality, climate change--are driving some investors away from the energy sector.