Energy

Exxon Mobil (NYSE:XOM) Analyst Ratings

/ / Energy /

Exxon Mobil (NYSE:XOM) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/14/2023 30.67% UBS $138 → $133 Maintains Buy 12/08/2023 24.78% JP Morgan $134 → $127 Maintains Overweight 12/07/2023 17.9% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 11/14/2023 30.67% Mizuho $139 → $133 Maintains Buy 11/02/2023 39.52% UBS $143 → $142 Maintains Buy 10/25/2023 31.66% JP Morgan $137 → $134 Maintains Overweight 10/17/2023 37.55% Bernstein → $140 Initiates Coverage On → Outperform 10/12/2023 42.46% Jefferies $140 → $145 Maintains Buy 10/12/2023 17.9% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 10/12/2023 28.71% Truist Securities $110 → $131 Upgrades Hold → Buy 10/04/2023 40.5% UBS $139 → $143 Maintains Buy 10/02/2023 31.66% Morgan Stanley $131 → $134 Maintains Overweight 09/25/2023 36.57% Mizuho → $139 Reiterates Buy → Buy 09/25/2023 28.71% Morgan Stanley $124 → $131 Maintains Overweight 09/22/2023 27.73% […]

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CFRA Keeps Buy Opinion On Shares Of Occidental Petroleum Corporation

/ / Energy /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $72, up $2, reflects a 6.5x multiple of enterprise value to projected ’24 EBITDA, in line with OXY’s historical forward average. We raise our ’23 EPS estimate by $0.60 to $4.17 and ’24’s by $0.40 to $5.24. Q3 EPS of $1.18 vs. $2.44 beat the consensus view by $0.32. Q3 production averaged 1.22 mmboe/d, up 3.6% year-over-year, and 2.1% above consensus, with outperformance derived from a variety of basins. OXY guided to Q4 production flat to slightly higher sequentially, but we note that OXY’s Delaware Basin productivity from new wells has gradually improved over time, which we believe implies that its target production levels can be achieved at relatively low capex. OXY redeemed an additional 3% of its preferred stock outstanding in

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Occidental Petroleum Q3 Adjusted Earnings, Revenue Decline

/ / Energy /

Occidental Petroleum (OXY) reported Q3 adjusted diluted earnings late Tuesday of $1.18 per share, down from $2.44 a year ago. Analysts polled by Capital IQ expected $0.86 normalized. Revenue for the quarter that ended Sept. 30 was $7.40 billion, down from $9.50 billion a year earlier. Analysts surveyed by Capital IQ expected $6.96 billion.

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Marathon Petroleum Corp. Reports Third-Quarter 2023 Results

/ / Energy /

Marathon Petroleum Corp. Reports Third-Quarter 2023 Results FINDLAY, Ohio, Oct. 31, 2023 /PRNewswire/ —   — Third-quarter net income attributable to MPC of $3.3 billion, or $8.28      per diluted share; adjusted net income of $3.2 billion, or $8.14 per      adjusted diluted share   — Adjusted EBITDA of $5.7 billion; net cash provided by operating      activities of $5.0 billion, reflecting continued strong cash generation   — MPLX increases distribution 10%; MPC expects to receive an incremental      $200 million, for a total of $2.2 billion annually   — Returned $3.1 billion of capital through $2.8 billion of share      repurchases and $297 million of dividends   — Announced quarterly dividend increase of approximately 10% to $0.825 per      share and additional $5 billion share repurchase authorization Marathon Petroleum Corp. (NYSE: MPC) today reported net income attributable to MPC of $3.3 billion, or

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CFRA Keeps Hold Opinion On Shares Of Phillips 66

/ / Energy /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $115, which reflects a 7.1x multiple of our projected 2024 operating cash flow, slightly above PSX’s historical forward average. We raise our 2023 EPS estimate to $15.71 from $14.55 and 2024’s to $14.60 from $12.19. Q3 EPS of $4.63, vs. $6.46, missed consensus estimates by $0.10. Q3 refining margins ($18.96/b) fell 29% Y/Y but grew 24% sequentially, driven by higher market crack spreads, partially offset by inventory hedge impacts, lower secondary product margins, and lower Gulf Coast clean product realizations. Q3 crude refining utilization (95%) rose two percentage points sequentially due to crude oil throughputs increasing by 3%; however, PSX guided crude oil utilization to be in the low 90% range in Q4, which we think is due to seasonality

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Chevron Corporation (NYSE: CVX) Reports Third Quarter 2023 Results

/ / Energy /

Chevron Corporation (NYSE: CVX) Reports Third Quarter 2023 Results — Reported earnings of $6.5 billion; adjusted earnings of $5.7 billion — Acquired PDC Energy, Inc. and majority interest in ACES Delta, LLC — Record year-to-date cash returned to shareholders of $20.0 billion — Announced agreement to acquire Hess Corporation SAN RAMON, Calif.—-October 27, 2023– Chevron Corporation (NYSE: CVX) reported earnings of $6.5 billion ($3.48 per share – diluted) for third quarter 2023, compared with $11.2 billion ($5.78 per share – diluted) in third quarter 2022. Included in the current quarter were a one-time tax benefit of $560 million in Nigeria and pension settlement costs of $40 million. Foreign currency effects increased earnings by $285 million. Adjusted earnings of $5.7 billion ($3.05 per share – diluted) in third quarter 2023 compared to adjusted earnings of $10.8 billion ($5.56 per share – diluted) in third quarter 2022. See Attachment 4 for a

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Chevron Q3 Adj. EPS $3.05 Misses $3.33 Estimate, Sales $54.08B Beat $53.00B Estimate

/ / Energy /

Chevron (NYSE:CVX) reported quarterly earnings of $3.05 per share which missed the analyst consensus estimate of $3.33 by 8.41 percent. This is a 45.14 percent decrease over earnings of $5.56 per share from the same period last year. The company reported quarterly sales of $54.08 billion which beat the analyst consensus estimate of $53.00 billion by 2.04 percent. This is a 18.85 percent decrease over sales of $66.64 billion the same period last year.

Chevron Q3 Adj. EPS $3.05 Misses $3.33 Estimate, Sales $54.08B Beat $53.00B Estimate Read Post »

Exxon Mobil Corporation (NYSE:XOM) Announces Third-Quarter 2023 Results

/ / Energy /

Exxon Mobil Corporation (NYSE:XOM) Announces Third-Quarter 2023 Results — Generated strong third-quarter earnings of $9.1 billion, or $2.25 per share, reflecting reliable operating performance of an advantaged portfolio — Produced $16.0 billion of operating cash flow and increased cash balance by $3.4 billion — Delivered the best-ever third-quarter global refinery throughput1 at 4.2 million barrels per day — Returned $8.1 billion to shareholders in the quarter and increased fourth-quarter dividend to $0.95 per share — Announced agreement to merge with Pioneer Natural Resources, a combination that will increase U.S. Permian production, enhance energy security and accelerate Pioneer’s path to net zero SPRING, Texas–(BUSINESS WIRE)–October 27, 2023– Exxon Mobil Corporation (NYSE:XOM): Results Summary Change Change Dollars in Change vs vs millions (except YTD YTD vs YTD 3Q23 2Q23 2Q23 3Q22 3Q22 per share data) 2023 2022 2022 Earnings (U.S. 9,070 7,880 +1,190 19,660 -10,590 GAAP) 28,380 42,990 -14,610 Earnings Excluding Identified

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CFRA Keeps Buy Opinion On Shares Of Chevron Corporation

/ / Energy /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target price of $162, cut $18, reflects a 5.7x multiple of enterprise value to projected 2024 EBITDA, modestly below CVX’s historical forward average. We cut our 2023 EPS estimate by $0.26 to $13.01 and 2024’s by $0.48 to $14.12. Q3 adjusted EPS of $3.05 vs. $5.56, missed the consensus view by $0.60. On a per-barrel of oil equivalent basis, we estimate CVX’s adjusted earnings in the third quarter were about 12% weaker than those of chief rival Exxon Mobil (XOM 105 ****), with international upstream as the main culprit. CVX’s pending acquisition of Hess Corporation (HES 145 ***) should enable some acceleration in international upstream production, as its stake in blocks offshore Guyana (where XOM is the chief operator) should help in the 2024-2025 time

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