Energy

Exxon’s Lithium Experiment Could Be Winner For Oil Company, State Of Arkansas

Exxon Mobil Corp (NYSE:XOM)’s recent earnings announcement closed up another successful year in which the company delivered $36 billion in earnings. Despite operating some of the most lucrative global oil projects, the company understands the inevitability of energy transition, deciding to launch a lithium operation in Arkansas. Through Mobil Lithium, Exxon plans to produce lithium for one million electric vehicles per year by 2030. This ambitious plan starts by choosing lithium filtration technology — including one of the unproven direct lithium extraction (DLE) technologies, which the company has been rigorously testing at a pilot plant in Houston. Patrick Howarth, head of Exxon’s lithium business, clarified the situation at the ongoing Arkansas Lithium Innovation Summit in Little Rock. “DLE is a small part of a really complicated process that has many different steps. We’re really focused on how do they interact with one another,” he said in front of over 600 energy sector executives, policymakers […]

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Schlumberger (NYSE:SLB) Stock Analyst Ratings

Schlumberger (NYSE:SLB) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/13/2024 61.7% Susquehanna → $77 Reiterates Positive → Positive 02/08/2024 38.6% RBC Capital → $66 Reiterates Outperform → Outperform 01/22/2024 34.4% Stifel $63 → $64 Maintains Buy 01/22/2024 38.6% RBC Capital → $66 Reiterates Outperform → Outperform 01/22/2024 61.7% Susquehanna $72 → $77 Maintains Positive 01/22/2024 55.4% Barclays $77 → $74 Maintains Overweight 01/22/2024 47% Wells Fargo $69 → $70 Maintains Overweight 10/24/2023 61.7% Barclays $75 → $77 Maintains Overweight 10/23/2023 51.2% Raymond James $68 → $72 Maintains Outperform 10/18/2023 57.5% Barclays $70 → $75 Maintains Overweight 10/17/2023 42.8% Raymond James $67 → $68 Maintains Outperform 10/10/2023 70.1% Societe Generale → $81 Initiates Coverage On → Buy 09/21/2023 47% Citigroup $66 → $70 Maintains Buy 09/11/2023 61.7% Piper Sandler $64 → $77 Maintains Overweight 09/07/2023 51.2% Susquehanna $68 → $72 Maintains Positive

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ConocoPhillips (NYSE:COP) Stock Analyst Ratings

ConocoPhillips (NYSE:COP) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/14/2024 29.5% UBS $138 → $143 Maintains Buy 02/09/2024 8.67% Scotiabank $115 → $120 Maintains Sector Perform 01/26/2024 20.45% Susquehanna $152 → $133 Maintains Positive 01/24/2024 24.07% Raymond James $140 → $137 Maintains Strong Buy 01/03/2024 19.54% Mizuho $139 → $132 Maintains Neutral 12/29/2023 26.79% Raymond James $146 → $140 Maintains Strong Buy 12/14/2023 24.98% UBS $149 → $138 Maintains Buy 12/08/2023 27.69% JP Morgan $153 → $141 Maintains Neutral 11/14/2023 22.26% RBC Capital $130 → $135 Maintains Outperform 10/18/2023 37.65% Susquehanna $153 → $152 Maintains Positive 10/04/2023 34.94% UBS $147 → $149 Maintains Buy 10/02/2023 29.5% Jefferies $141 → $143 Maintains Buy 10/02/2023 13.2% Morgan Stanley $124 → $125 Maintains Overweight 09/18/2023 44.9% Truist Securities $151 → $160 Maintains Buy 09/18/2023 25.88% Mizuho $135 → $139 Maintains Neutral 09/08/2023 — Erste

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Marathon Petroleum (NYSE:MPC) Stock Analyst Ratings

Marathon Petroleum (NYSE:MPC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 3% Barclays $163 → $168 Maintains Overweight 01/31/2024 13.43% Raymond James $175 → $185 Maintains Strong Buy 12/14/2023 3.62% Wells Fargo → $169 Upgrades Equal-Weight → Overweight 11/01/2023 7.3% Raymond James $171 → $175 Maintains Strong Buy 10/17/2023 -1.9% Morgan Stanley $150 → $160 Maintains Overweight 10/06/2023 1.78% Mizuho $178 → $166 Maintains Neutral 10/06/2023 4.84% Raymond James $177 → $171 Maintains Strong Buy 10/05/2023 -9.26% Piper Sandler $146 → $148 Maintains Neutral 09/20/2023 8.52% Raymond James $165 → $177 Maintains Strong Buy 09/18/2023 6.07% B of A Securities $162 → $173 Maintains Neutral 09/18/2023 9.14% Mizuho $161 → $178 Maintains Neutral 09/08/2023 -3.74% Wells Fargo $142 → $157 Maintains Equal-Weight 08/16/2023 — Mizuho Downgrades Buy → Neutral 08/15/2023 -0.67% B of A Securities $159 → $162 Downgrades Buy →

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Phillips 66 (NYSE:PSX) Stock Analyst Ratings

Phillips 66 (NYSE:PSX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 -4.14% Barclays $132 → $139 Maintains Equal-Weight 02/01/2024 12.41% Wells Fargo $151 → $163 Maintains Overweight 02/01/2024 6.9% Raymond James $140 → $155 Maintains Outperform 12/19/2023 -3.45% Raymond James $128 → $140 Maintains Outperform 12/04/2023 3.45% TD Cowen $134 → $150 Maintains Outperform 10/31/2023 0.69% Wolfe Research → $146 Upgrades Peer Perform → Outperform 10/06/2023 -20% Mizuho $131 → $116 Maintains Neutral 10/06/2023 -11.72% Raymond James $133 → $128 Maintains Outperform 10/05/2023 -7.59% Piper Sandler $138 → $134 Maintains Overweight 09/20/2023 -8.28% Raymond James $125 → $133 Maintains Outperform 09/18/2023 -1.38% B of A Securities $141 → $143 Maintains Neutral 09/18/2023 -9.66% Mizuho $127 → $131 Maintains Neutral 09/08/2023 -0.69% Wells Fargo $130 → $144 Maintains Overweight 09/01/2023 -2.76% Goldman Sachs $125 → $141 Maintains Buy 08/16/2023 -12.41% Mizuho $118

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Exxon Mobil (NYSE:XOM) Stock Analyst Ratings

Exxon Mobil (NYSE:XOM) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 18.69% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 01/23/2024 30.56% UBS $133 → $132 Maintains Buy 01/23/2024 13.75% TD Cowen → $115 Upgrades Market Perform → Outperform 01/09/2024 17.71% Redburn Atlantic $116 → $119 Upgrades Neutral → Buy 01/03/2024 15.73% Mizuho → $117 Downgrades Buy → Neutral 12/22/2023 — Erste Group Downgrades Buy → Hold 12/14/2023 31.55% UBS $138 → $133 Maintains Buy 12/08/2023 25.62% JP Morgan $134 → $127 Maintains Overweight 12/07/2023 18.69% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 11/14/2023 31.55% Mizuho $139 → $133 Maintains Buy 11/02/2023 40.45% UBS $143 → $142 Maintains Buy 10/25/2023 32.54% JP Morgan $137 → $134 Maintains Overweight 10/17/2023 38.48% Bernstein → $140 Initiates Coverage On → Outperform 10/12/2023 43.42% Jefferies $140 → $145 Maintains Buy

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Chevron (NYSE:CVX) Stock Analyst Ratings

Chevron (NYSE:CVX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/05/2024 24.98% RBC Capital $185 → $190 Maintains Outperform 01/23/2024 -1.33% TD Cowen $170 → $150 Downgrades Outperform → Market Perform 01/16/2024 11.83% Scotiabank → $170 Downgrades Sector Outperform → Sector Perform 01/08/2024 21.04% Jefferies → $184 Upgrades Hold → Buy 12/14/2023 21.69% UBS $194 → $185 Maintains Buy 11/14/2023 28.27% Mizuho $215 → $195 Maintains Buy 11/02/2023 19.72% Bernstein $184 → $182 Upgrades Market Perform → Outperform 10/30/2023 31.56% B of A Securities $190 → $200 Upgrades Neutral → Buy 10/30/2023 15.12% Raymond James $200 → $175 Maintains Outperform 10/24/2023 11.17% Truist Securities $175 → $169 Maintains Hold 10/24/2023 18.41% RBC Capital → $180 Reiterates Outperform → Outperform 10/17/2023 32.22% Morgan Stanley $203 → $201 Maintains Equal-Weight 10/17/2023 21.04% Bernstein → $184 Initiates Coverage On → Market Perform 10/04/2023 38.14% UBS

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Goldman Sachs On Exxon Mobil Q4 Performance: Focus On Upstream Strength And Cost Strategies Amid Production Surge

Goldman Sachs analyst Neil Mehta commented on Exxon Mobil Corp‘s (NYSE:XOM) fourth-quarter FY23 earnings. The company’s adjusted net profit came in at $9.96 billion, or $2.48 per share, down from $14.04 billion, or $3.40 per share, a year earlier, beating the consensus of $2.21. Adjusted EPS also came above Goldman Sachs’ estimate of $2.22. Revenue and other income slipped to $84.34 billion from $95.43 billion and missed Wall Street’s estimate of $85.23 billion. Net production stood at 3,824 thousand oil-equivalent barrels per day, vs. analyst estimate of 3,757 thousand oil-equivalent barrels per day. Also, the company’s upstream earnings came above the analyst’s estimate. Mehta expects the conference call to center on cost reduction targets, upstream volume guidance, refining outlook, the Pioneer Natural Resources acquisition, and capital spending balance. The analyst estimates revenue and EPS of $341.23 billion and $8.32 in FY24 and $348.05 billion and $9.51 in FY25, respectively. Mehta reiterated a Neutral

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Exxon Mobil(XOM.US) Q4 2023 Earnings Conference

The following is a summary of the Exxon Mobil Corporation (XOM) Q4 2023 Earnings Call Transcript: Financial Performance: Exxon Mobil reported 15% return on capital employed, with earnings worth $36 billion in 2023. Cost reductions and asset optimization have facilitated a 100% increase in the company’s earnings. Through the sale of assets, Exxon Mobil generated over $4 billion in cash during 2023. Despite adverse conditions in 2023, investments made by Exxon Mobil generated profits and remained cash-positive. For the fourth quarter, cash flow from operations amounted to $13.7 billion; ignoring working capital, cash flow stood at $16.9 billion. Business Progress: Exxon Mobil registered record-breaking performance in upstream and refining operations. Exxon launched Proxxima, a resin product, and entered the lithium business; successfully developing unique technology for carbon capture. Exxon Mobil has three new organizations in place – Global Supply, Trading, and Global Business Solutions; this organizational restructuring is anticipated to

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CFRA Cuts View On Shares Of Exxon Mobil To Hold From Buy

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 $110, cut $11, reflects a 6.5x multiple of enterprise value to projected 2025 EBITDA, in line with XOM’s historical forward average. We cut our 2024 EPS estimate by $1.46 to $8.03 and start 2025’s at $8.41. Q4 EPS of $2.48 vs. $3.40 beat the consensus view by $0.27. Production of 3.82 mmboe/d in Q4 was 2.3% above consensus, helped by growth in the Permian, which XOM believes can rise by a 13% CAGR through 2027. Our downgrade is on a more pessimistic macro outlook for 2024 and 2025, one in which we think crude oil prices average flat to down vs. 2023’s $78/b for U.S. benchmark WTI, and natural gas prices improve only modestly. We think XOM is executing well on the

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