76.69 -0.29 (-0.38%)
Pre-Market: 8:15AM EST
|Bid||76.21 x 800|
|Ask||76.75 x 900|
|Day's Range||75.95 - 77.22|
|52 Week Range||72.16 - 89.30|
|Beta (3Y Monthly)||0.68|
|PE Ratio (TTM)||14.16|
|Earnings Date||Jan 31, 2019 - Feb 4, 2019|
|Forward Dividend & Yield||3.28 (4.26%)|
|1y Target Est||88.13|
Matt Smith, director of commodity research at Clipper Data, joins the 'Squawk Box' team to break down the latest developments in the energy market.
Another spill in oil prices this week has energy stocks in the red. The XLE energy ETF XLE has fallen more than 1 percent since Monday, on track for a second week in the red. Bill Baruch , president of Blue Line Futures, says the charts suggest both good and bad for the energy sector.
ExxonMobil's (XOM) West Barracouta gas field development in Bass Strait to aid in the transportation of new gas supplies to the Australian domestic market.
It’s one of the largest contracts for Wood’s Americas business and will require around 1,100 employees working on the project during peak construction.
Tillerson was speaking in Houston Dec. 6 at the University of Texas M.D. Anderson’s "Conversation With a Living Legend" charity event.
DUBAI/DOHA (Reuters) - Even before taking over Qatar's energy policy in a government reshuffle last month, Qatar Petroleum (QP) CEO Saad al-Kaabi had long wanted the Gulf state to leave OPEC. Kaabi was concerned OPEC membership could be a stumbling block for QP's ambitions in the United States, where it has one of the world's biggest LNG terminals, and a distraction as Doha doubles down on gas production, three industry sources said. Proposed U.S. legislation known as NOPEC (No Oil Producing and Exporting Cartels Act) could expose members of the oil exporters club to antitrust lawsuits, a risk for QP at a time it is planning to invest billions more in the United States.
Exxon Mobil Corp and the world's top miner BHP Billiton said on Thursday they approved development of the West Barracouta gas field in the Gippsland Basin in Australia, to bring fresh gas to Australian domestic markets. Exxon said the project, located off the shore of the state of Victoria, is part of its continuing investment in the Gippsland Basin, an area rich in oil and gas.
Exxon Mobil Corp has made a final investment decision to develop the West Barracouta gas field in the Bass Strait to bring new gas supplies to the Australian market, it said in a statement on Thursday. The project, located off the shore of the state of Victoria, is part of Exxon's continuing investment in the Gippsland Basin in Australia, an area rich in oil and gas, Exxon said.
ExxonMobil said today that it has made a final investment decision to develop the West Barracouta gas field in Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin. The company recently completed front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin Joint Venture, and awarded contracts to Subsea 7 and OneSubsea, a Schlumberger company.
The project will develop one of the largest remaining sweet gas reservoirs in Australia's Bass Strait through a two-well brownfield tieback.
U.S. supermajor Chevron continues to channel a significant portion of its upstream investment into the major capital-intensive Tengiz field in Kazakhstan
Tech stocks led the stock market rally Wednesday. Tesla stock regained a buy point while PayPal stock is nearing its own entry.
Dow Jones stock Caterpillar and Salesforce.com led stocks higher at Wednesday's open, as global markets rallied on a trade-fear lull.
Darren Woods, ExxonMobil chairman and chief executive officer, presented $50,000 to Family Compass today to further the organization’s goals of ending child abuse and neglect. The grant marks the 13th annual ExxonMobil Chairman’s Gift given during the holidays to benefit and highlight a deserving nonprofit organization in North Texas.
Investing.com – U.S. futures pointed to a higher opening bell on Wednesday as trade optimism rose after upbeat comments from U.S. President Donald Trump.The S&P 500 futures rose 17 points or 0.67% to 2,658.88 as of 6:40 AM ET (11:40 GMT) while Dow futures gained 148 points, or 0.61%, to 24,572. Meanwhile tech heavy Nasdaq 100 futures increased 59 points, or 0.89%, to 6,776.75.Trump tweeted on Tuesday that talks with China were “very productive.” The two countries agreed to a trade truce in early December in order to discuss a trade deal. ...
Brent crude oil prices rose 1.6% to $61.15 a barrel and West Texas Intermediate Futures were up 1.8% at $52.56 a barrel, after weekly American Petroleum Institute figures released Tuesday revealed a larger-than-expected fall in U.S. inventories. Stocks in Europe built on Tuesday’s gains, with the pan-continental Stoxx Europe 600 index up 1.1% in midday trade, while the British pound edged up 0.5% but remained near its lowest level in 20 months. Lawmakers in the U.K.’s ruling Conservative party initiated a no-confidence vote against Mrs. May. On Monday, she postponed a parliamentary vote on her Brexit bill, which prompted a new volley of criticism over her handling of the country’s exit from the European Union.
Chevron (CVX) set its investment budget for 2019 at $20 billion, while Schlumberger (SLB) warned of weakness in the North American hydraulic fracturing market.
The Energy Select Sector SPDR (XLE) , the largest equity-based energy exchange traded fund, entered Monday with a fourth-quarter loss of about 12%, but some market observers believe the energy sector is poised to rebound. Last week, oil exchanged-traded funds (ETFs) gained after lengthy Organization of the Petroleum Exporting Countries (OPEC) discussions finally came to a conclusion, resulting in a larger-than-expected production cut that sent oil prices higher on Friday. OPEC and associated partners agreed to cut 1.2 million barrels per day with OPEC being responsible for 800,000 barrels.
Oil prices are in the process of reaching new cyclical highs in late 2019 and 2020, Molchanov said in a Tuesday note. Raymond James is now forecasting WTI prices of $75/bbl by the fourth quarter of 2019, and Molchanov said Exxon is not well-positioned for major swings in oil prices.
The Zacks Analyst Blog Highlights: Berkshire Hathaway, JPMorgan, Exxon Mobil, General Mills and Motorola