Exxon Mobil

By Jack Hough My proprietary oil model predicts less price volatility ahead. OK, there’s no model, but a chart of spot Texas crude still makes me shake my J.R. Ewing Stetson in disbelief at how nuts energy trading got over the past five years. OK, there’s no Stetson, either. Early in the pandemic, near the expiration for May 2020 futures contracts, oil briefly sold for negative $37 per barrel, because highways were empty, storage tanks were stuffed, and there was nowhere to receive the stuff. In summer 2022, with demand restored, and Russia well into its Ukraine invasion, prices topped $120. More recently, Texas crude sold for $77, down from $90 at the end of September, but up from $72 since the start of this year. The futures curve implies that prices will fall from the high to low $70s from now through 2027. Jason Gabelman, an oil stock analyst […]

Exxon Mobil’s (XOM) ExxonMobil LNG Asia Pacific unit has signed two long-term sale and purchase agreements with Mexico Pacific to buy 2 million tons per year of liquified natural gas, Mexico Pacific said Tuesday. Exxon’s unit will buy LNG on a free-on-board basis from the first two trains of Mexico Pacific’s anchor LNG export facility for 20 years, Mexico Pacific said. Exxon has the option to buy 1 million tons per year from the third train, the company added.

Exxon Mobil (NYSE:XOM) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 17.59% Redburn Atlantic $116 → $119 Upgrades Neutral → Buy 01/03/2024 15.61% Mizuho → $117 Downgrades Buy → Neutral 12/22/2023 — Erste Group Downgrades Buy → Hold 12/14/2023 31.42% UBS $138 → $133 Maintains Buy 12/08/2023 25.49% JP Morgan $134 → $127 Maintains Overweight 12/07/2023 18.58% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 11/14/2023 31.42% Mizuho $139 → $133 Maintains Buy 11/02/2023 40.32% UBS $143 → $142 Maintains Buy 10/25/2023 32.41% JP Morgan $137 → $134 Maintains Overweight 10/17/2023 38.34% Bernstein → $140 Initiates Coverage On → Outperform 10/12/2023 43.28% Jefferies $140 → $145 Maintains Buy 10/12/2023 18.58% RBC Capital → $120 Reiterates Sector Perform → Sector Perform 10/12/2023 29.45% Truist Securities $110 → $131 Upgrades Hold → Buy 10/04/2023 41.3% UBS $139 → $143 Maintains Buy

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 (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 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%

UBS analyst Jon Rigby maintains Exxon Mobil (NYSE:XOM) with a Buy and lowers the price target from $138 to $133.

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%

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

Exxon Mobil Sees Full-Year Capital, Exploration Spending at Top End of $23B-$25B Guidance