Exxon Mobil Corporation (XOM) , the U.S.-based oil and gas giant, has announced its plans to lay off 397 Pioneer Natural Resources employees following the latter’s acquisition earlier this year. In May 2024, XOM acquired Pioneer Natural Resources in a transaction worth $63 billion. Following this, Exxon Mobil became the largest oil and gas producer in the prolific Permian Basin. The company benefited from integrating Pioneer’s assets into its portfolio. XOM’s production reached an all-time high in almost 10 ...

Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., speaks during the 2022 CERAWeek by S&P Global conference in Houston, Texas, on Monday, March 7, 2022.President-elect Donald Trump should keep the U.S. involved in global efforts to address climate change, Exxon Mobil CEO Darren Woods said Tuesday.Trump should try to bring a "common sense" approach to the annual U.N. Climate Change Conference and "continue to have the U.S. influence policy around the world," Woods told CNBC's "Squawk Bo ...

Core Insights - Exxon Mobil has experienced a 24% rise in stock price since the beginning of 2024, currently trading around $121 per share, with potential for long-term gains despite limited near-term growth [1] - The company reported a record third-quarter liquid output, attributed to the acquisition of Pioneer Energy Resources, despite a 17% year-over-year decline in Brent oil prices [1][5] - Exxon's fundamentals remain strong, with a low debt-to-equity ratio of 0.2x, allowing it to withstand energy downturns [3] Financial Performance - Year-to-date earnings have doubled compared to the same period in 2019 on a constant-price basis [1] - In Q3, net production rose 5% quarter-over-quarter to 4.6 million barrels of oil equivalent per day, with the highest liquids production in over 40 years at 3.2 million barrels per day [5] - Q3 net income fell to $8.6 billion, or $1.92 per share, from $9.1 billion, or $2.25 per share, in the previous year, while revenues decreased by 1% year-over-year to $90 billion [5] Market Outlook - Forecasts for 2024 predict revenues of $308.2 billion, down 8% year-over-year, with expected EPS of $7.90, leading to a revised valuation of $127 per share [6] - The company plans to develop its fifth and most expensive project, the $12.7 billion Uaru project in Guyana, expected to produce around 250,000 barrels per day [7] Geopolitical Context - China's oil demand growth is projected to be around 180,000 barrels per day this year, significantly lower than previous years, due to economic slowdown and a shift to electric vehicles [2] - Ongoing geopolitical tensions, including the war in Ukraine and conflicts in the Middle East, could lead to higher oil prices, but increased output from the U.S. and non-OPEC countries is helping to balance the market [2]

Exxon Mobil Corporation (XOM) , the oil and gas supermajor, has concluded the purchase of a floating production, storage, and offloading (FPSO) vessel from SBM Offshore. The FPSO Prosperity, working for ExxonMobil’s Payara field offshore Guyana, was acquired through the transaction.While ExxonMobil has gained ownership of the vessel, SBM Offshore is responsible for its operations and maintenance activities. The transaction involves a total consideration of $1.23 billion in cash. The transaction was closed b ...

The energy giant's strategy has fundamentally improved its ability to make money.ExxonMobil (XOM -0.03%) has come a long way over the last five years. The oil behemoth has transformed into a much more profitable company. It delivered industry-leading profitability during the third quarter, enabling it to provide its shareholders with industry-leading cash returns. On its third-quarter conference call, CEO Darren Woods shared the secrets to the company's success and explained how it has become the most profi ...

Vladimir Dimitrov, CFA is a former strategy consultant within the field of brand and intangible assets valuation. During his career in the City of London he has been working with some of the largest global brands within the technology, telecom and banking sectors.Analyst’s Disclosure: I/we have a beneficial long position in the shares of CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (ot ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?Before we discuss the reliability of brokerage recommendations and how to use them to your advantage, let's see what these Wall Street heavyweights think about Exxon Mobil (XOM) .Exxon currently has an average brokerage recommendation (ABR) of 2.00, on a ...

Exxon is in an elite group of dividend stocks.The oil industry has had its share of ups and downs over the decades. Crude prices have varied wildly over the years. They even briefly went negative during the pandemic, only to spike into the triple digits after Russia invaded Ukraine. That stomach-turning volatility has made it difficult for many oil companies to maintain their dividends over the years, let alone continue increasing their payouts. That's what makes ExxonMobil's (XOM 3.18%) dividend history so ...

Retirement is complicated and you only get once chance to do it right. Don't miss out because you didn't know what was out there. The Retirement Forum provides actionable ideals, a high-yield safe retirement portfolio, and macroeconomic outlooks, all to help you maximize your capital and your income. We search the entire market to help you maximize returns. Exxon Mobil Corporation (NYSE: NYSE: XOM ) aka ExxonMobil recently reported Q3 earnings , as the company has sat around all-time highs for several years ...

On Friday, Exxon Mobil Corporation (XOM) reported third-quarter 2024 earnings that exceeded expectations, driven by cost-cutting initiatives, high-yield investments and strategic divestments, all of which contribute to a strong business outlook. Before analyzing the factors underpinning this positive outlook and considering strategic options for investors, let’s first review the third-quarter results.XOM’s Q3 Earnings SnapshotExxonMobil reported earnings per share of $1.92 (excluding identified items), whic ...