Exxon Mobil Expects Change In Gas Prices To Positively Impact Q4 Upstream Results By $400M-$800M, Change In Liquids Prices To Negatively Impact Results By $400M-$800M.
Exxon Mobil Sees Change In Industry Margins To Positively Impact Q4 Specialty Products Earnings By $0.0B – $0.2B Vs Q3.
By Ben Glickman Exxon Mobil is expecting up to $2.6 billion in impairments in the fourth quarter for its upstream business, mostly related to idled assets in California. The oil and gas giant said in a regulatory filing Thursday that it was expecting impairments of $2.4 billion to $2.6 billion in its upstream business. Exxon said the impairments primarily reflected the idling of its Upstream Santa Ynez Unit assets and related facilities. Exxon said “continuing challenges in the state regulatory environment have impeded progress in restoring operations.” The company also expects a negative effect on upstream earnings from change in liquids prices of $400 million to $800 million. Changes in gas prices are expected to benefit upstream earnings by $400 million to $800 million. Write to Ben Glickman at ben.glickman@wsj.com
Exxon Mobil Expects Up To $2.6 Billion in 4Q Upstream Impairments Read Post »
ConocoPhillips (NYSE:COP) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 10.97% Mizuho $139 → $132 Maintains Neutral 12/29/2023 17.7% Raymond James $146 → $140 Maintains Strong Buy 12/14/2023 16.02% UBS $149 → $138 Maintains Buy 12/08/2023 18.54% JP Morgan $153 → $141 Maintains Neutral 11/14/2023 13.49% RBC Capital $130 → $135 Maintains Outperform 10/18/2023 27.78% Susquehanna $153 → $152 Maintains Positive 10/04/2023 25.26% UBS $147 → $149 Maintains Buy 10/02/2023 20.22% Jefferies $141 → $143 Maintains Buy 10/02/2023 5.09% Morgan Stanley $124 → $125 Maintains Overweight 09/18/2023 34.51% Truist Securities $151 → $160 Maintains Buy 09/18/2023 16.86% Mizuho $135 → $139 Maintains Neutral 09/08/2023 — Erste Group Upgrades Hold → Buy 08/28/2023 18.54% Jefferies $143 → $141 Maintains Buy 08/17/2023 23.58% UBS $127 → $147 Maintains Buy 08/16/2023 13.49% Mizuho $127 → $135 Maintains Neutral 08/14/2023 9.29% RBC Capital → $130
ConocoPhillips (NYSE:COP) stock Analyst Ratings Read Post »
Exxon Mobil (NYSE:XOM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 14.47% Mizuho → $117 Downgrades Buy → Neutral 12/22/2023 — Erste Group Downgrades Buy → Hold 12/14/2023 30.12% UBS $138 → $133 Maintains Buy 12/08/2023 24.25% JP Morgan $134 → $127 Maintains Overweight 12/07/2023 17.41% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 11/14/2023 30.12% Mizuho $139 → $133 Maintains Buy 11/02/2023 38.93% UBS $143 → $142 Maintains Buy 10/25/2023 31.1% JP Morgan $137 → $134 Maintains Overweight 10/17/2023 36.97% Bernstein → $140 Initiates Coverage On → Outperform 10/12/2023 41.86% Jefferies $140 → $145 Maintains Buy 10/12/2023 17.41% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 10/12/2023 28.17% Truist Securities $110 → $131 Upgrades Hold → Buy 10/04/2023 39.91% UBS $139 → $143 Maintains Buy 10/02/2023 31.1% Morgan Stanley $131 → $134 Maintains Overweight 09/25/2023 35.99%
Exxon Mobil (NYSE:XOM) stock Analyst Ratings Read Post »
Chevron to Book $3.5 Bln to $4.0 Bln in Non-cash After-tax Charges in Q4 Related to Impairment of U.S. Upstream Assets
By Will Feuer Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico. Chevron said it will impair a portion of its U.S. upstream assets, mostly in California, due to regulatory challenges in the state that have led to “lower anticipated future investment levels in its business plans.” Chevron said it will continue to operate the affected assets for many years. The company also said companies that agreed to buy Chevron’s oil and gas production assets in the U.S. Gulf of Mexico have since filed for Chapter 11 bankruptcy protections. Chevron said the obligations for the assets could revert back to the company, and that it will decommission the assets over the next decade. Write to Will Feuer at Will.Feuer@wsj.com
Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets Read Post »
ConocoPhillips (NYSE:COP) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/29/2023 20.17% Raymond James $146 → $140 Maintains Strong Buy 12/14/2023 18.45% UBS $149 → $138 Maintains Buy 12/08/2023 21.03% JP Morgan $153 → $141 Maintains Neutral 11/14/2023 15.88% RBC Capital $130 → $135 Maintains Outperform 10/18/2023 30.47% Susquehanna $153 → $152 Maintains Positive 10/04/2023 27.9% UBS $147 → $149 Maintains Buy 10/02/2023 22.75% Jefferies $141 → $143 Maintains Buy 10/02/2023 7.3% Morgan Stanley $124 → $125 Maintains Overweight 09/18/2023 37.34% Truist Securities $151 → $160 Maintains Buy 09/18/2023 19.31% Mizuho $135 → $139 Maintains Neutral 09/08/2023 — Erste Group Upgrades Hold → Buy 08/28/2023 21.03% Jefferies $143 → $141 Maintains Buy 08/17/2023 26.18% UBS $127 → $147 Maintains Buy 08/16/2023 15.88% Mizuho $127 → $135 Maintains Neutral 08/14/2023 11.59% RBC Capital → $130 Reiterates Outperform → Outperform 08/04/2023 29.61% Truist Securities
ConocoPhillips (NYSE:COP) stock Analyst Ratings Read Post »
Raymond James analyst John Freeman maintains ConocoPhillips (NYSE:COP) with a Strong Buy and lowers the price target from $146 to $140.
Raymond James lowers ConocoPhillips (NYSE:COP) price target from $146 to $140 Read Post »
Exxon Mobil (NYSE:XOM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/22/2023 — Erste Group Downgrades Buy → Hold 12/14/2023 30% UBS $138 → $133 Maintains Buy 12/08/2023 24.13% JP Morgan $134 → $127 Maintains Overweight 12/07/2023 17.29% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 11/14/2023 30% Mizuho $139 → $133 Maintains Buy 11/02/2023 38.79% UBS $143 → $142 Maintains Buy 10/25/2023 30.97% JP Morgan $137 → $134 Maintains Overweight 10/17/2023 36.84% Bernstein → $140 Initiates Coverage On → Outperform 10/12/2023 41.73% Jefferies $140 → $145 Maintains Buy 10/12/2023 17.29% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 10/12/2023 28.04% Truist Securities $110 → $131 Upgrades Hold → Buy 10/04/2023 39.77% UBS $139 → $143 Maintains Buy 10/02/2023 30.97% Morgan Stanley $131 → $134 Maintains Overweight 09/25/2023 35.86% Mizuho → $139 Reiterates Buy → Buy 09/25/2023 28.04%
Exxon Mobil (NYSE:XOM) stock Analyst Ratings Read Post »
Phillips 66 (NYSE:PSX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/19/2023 6.63% Raymond James $128 → $140 Maintains Outperform 12/04/2023 14.24% TD Cowen $134 → $150 Maintains Outperform 10/31/2023 11.2% Wolfe Research → $146 Upgrades Peer Perform → Outperform 10/06/2023 -11.65% Mizuho $131 → $116 Maintains Neutral 10/06/2023 -2.51% Raymond James $133 → $128 Maintains Outperform 10/05/2023 2.06% Piper Sandler $138 → $134 Maintains Overweight 09/20/2023 1.29% Raymond James $125 → $133 Maintains Outperform 09/18/2023 8.91% B of A Securities $141 → $143 Maintains Neutral 09/18/2023 -0.23% Mizuho $127 → $131 Maintains Neutral 09/08/2023 9.67% Wells Fargo $130 → $144 Maintains Overweight 09/01/2023 7.39% Goldman Sachs $125 → $141 Maintains Buy 08/16/2023 -3.27% Mizuho $118 → $127 Maintains Neutral 08/14/2023 2.06% Argus Research $125 → $134 Maintains Buy 08/03/2023 -0.99% Wells Fargo $111 → $130 Maintains Overweight 07/19/2023 -4.8% Morgan Stanley
Phillips 66 (NYSE:PSX) Stock Analyst Ratings Read Post »
UBS analyst Jon Rigby maintains Exxon Mobil (NYSE:XOM) with a Buy and lowers the price target from $138 to $133.
UBS lowers Exxon Mobil (NYSE:XOM) price target from $138 to $133 Read Post »