Exxon Mobil CorporationNYSE
Exxon Mobil: It's All About Free Cash Flow
Richard Zeits • 86 Comments
Richard Zeits • 86 Comments
Exxon Mobil: Slow But Steady, Value Erosion Is Underway
Richard Zeits • 111 Comments
Richard Zeits • 111 Comments
Thu, Dec. 1, 11:46 AM
- November monthly performance was: +2.44%
- 52-week performance vs. the S&P 500 is: +6%
- $0.18 in dividends were paid in November
- Top 10 Holdings as of 10/31/2016: Exxon Mobil Corp (XOM): 5.06236%, AT&T Inc (T): 5.00966%, Verizon Communications Inc (VZ): 3.95123%, Chevron Corp (CVX): 3.90836%, General Electric Co (GE): 3.34327%, Procter & Gamble Co (PG): 3.22338%, Wal-Mart Stores Inc (WMT): 2.96781%, Philip Morris International Inc (PM): 2.82773%, Pfizer Inc (PFE): 2.73807%, Merck & Co Inc (MRK): 2.31749%
Thu, Dec. 1, 10:21 AM
- The price of oil pushed through $50 per barrel today, and is currently posting a 2.9% advance on the session at $50.91.
- The S&P 500 is flat and Nasdaq is down 0.45%, but the XLE has tacked on another 1.8% to yesterday's big rise.
- Mid-cap movers: Enerplus (ERF +8.2%), Southwestern Energy (SWN +7.9%), Range Resources (RRC +5.3%), Weatherford (WFT +7.1%), Ensco (ESV +8.2%), Crescent Point (CPG +6.3%).
- Among the large players: Exxon (XOM +1.1%), Chevron (CVX +2%), Shell (RDS.A +2.2%), (RDS.B +2.3%), BP (BP +2.4%), ConocoPhillips (COP +2%), Marathon (MRO +3.1%), Halliburton (HAL +2.3%)
Thu, Dec. 1, 9:31 AM
- November monthly performance was: +0.62%
- 52-week performance vs. the S&P 500 is: -5%
- No dividends were paid in November
- Top 10 Holdings as of 10/31/2016: Apple Inc (AAPL): 4.78232%, Microsoft Corp (MSFT): 3.6545%, General Electric Co (GE): 2.09427%, Procter & Gamble Co (PG): 1.43859%, Exxon Mobil Corp (XOM): 1.36332%, Wells Fargo & Co (WFC): 1.34175%, Intel Corp (INTC): 1.2948%, Bank of America Corporation (BAC): 1.2811%, Pfizer Inc (PFE): 1.22767%, Alphabet Inc C (GOOG): 1.22159%
Thu, Dec. 1, 8:49 AM
- November monthly performance was: +3.54%
- 52-week performance vs. the S&P 500 is: -3%
- No dividends were paid in November
- Top 10 Holdings as of 10/31/2016: Apple Inc (AAPL): 6.80131%, Microsoft Corp (MSFT): 5.15024%, Exxon Mobil Corp (XOM): 3.74079%, General Electric Co (GE): 2.88197%, Procter & Gamble Co (PG): 2.47992%, AT&T Inc (T): 2.43052%, Wells Fargo & Co (WFC): 2.30872%, Amazon.com Inc (AMZN): 2.24391%, Facebook Inc A (FB): 2.2067%, Alphabet Inc C (GOOG): 2.16615%
Wed, Nov. 30, 5:45 PM
- Big oil earnings will double next year as crude prices continue to march higher and oilfield services costs remain depressed, Evercore ISI head of energy research Doug Terreson tells CNBC.
- Terreson's top picks are Royal Dutch Shell (RDS.A, RDS.B), BP, ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX), but he also sees upside for smaller independent E&P companies and oilfield services firms.
- "While we expected OPEC to cut production, today's outcome exceeded our expectations," Terreson says, "so this is a positive outcome for the oil markets, and we also think for the outlook for energy stocks in 2017 too," adding that he is "unrepentantly bullish."
Wed, Nov. 30, 10:58 AM
- A Louisiana environmental group says ExxonMobil's (XOM +1.8%) Baton Rouge, La., refinery, where four workers were burned in a fire earlier this month, has been poorly maintained for years.
- "This accident fits in a pattern of a poorly maintained facility that has consistent and constant accidents," says the director of the Louisiana Bucket Brigade, pointing to a 2012 EPA Agency inspection of the refinery that described long-standing flaws in maintenance.
- XOM says the group's previous reports "have consistently contained deliberate inaccuracies and misrepresent industry activities."
Wed, Nov. 30, 9:50 AM
- Shares of energy companies surge at the open, as hopes for an OPEC deal to cut production send crude oil futures soaring.
- Reports say Saudi Arabia is prepared to accept "a big hit" to production and agree to Iran freezing output at pre-sanctions levels.
- In early trading: XOM +2.2%, CVX +2.3%, RDS.A +3.6%, BP +3.4%, TOT +1.7%, STO +5.1%, PBR +8.1%, COP +7.2%, MRO +12.1%, APC +8%, DVN +12.7%, HES +9.5%, ENB +2.1%, PSX +0.8%, SLB +4.2%, HAL +8.3%, BHI +4.3%, KMI +4.8%, EPD +2.7%, ETP +3.8%, WMB +5.4%, RIG +11.3%, SE +2.2%, CHK +9.4%.
- ETFs: XLE, VDE, ERX, OIH, XOP, FCG, ERY, GASL, DIG, DUG, BGR, XES, IYE, IEO, FENY, IEZ, PXE, GASX, PXI, FIF, PXJ, RYE, NDP, GUSH, PSCE, DRIP, DDG, FXN, CRAK
Tue, Nov. 29, 10:20 AM
- Crude oil continues to slide - WTI now -3.8% at $45.27/bbl, and Brent -3.8% at $46.40/bbl - dragging oil and gas equities (XLE -2.1%) down with it.
- Iran's oil minister says he is not prepared to reduce supply, and Saudi Arabia says it would not participate in a production deal without Iran and Iraq.
- Reuters reports that Iran has written to OPEC saying Saudi Arabia needs to cut oil output to 9.5M bbl/day; Saudi has said it was prepared to reduce its production only by 500K bbl/day from current levels of 10.5M.
- In early trading: XOM -1%, CVX -1.7%, RDS.A -1.4%, BP -1%, TOT -0.3%, STO -1.8%, PBR -3.7%, COP -2.9%, MRO -4%, APC -2.8%, DVN -2.7%, HES -3.6%, ENB -2.3%, PSX -1.2%, MPC -0.8%, SLB -2.2%, HAL -2.3%, BHI -2.1%, KMI -1.4%, EPD -2%, ETP -2.2%, WMB -2.4%, SE -2.3%, CHK -2.6%.
- ETFs: XLE, VDE, ERX, OIH, XOP, FCG, ERY, GASL, DIG, DUG, BGR, XES, IYE, IEO, FENY, IEZ, PXE, GASX, FIF, PXJ, RYE, NDP, GUSH, DRIP, DDG, FXN, CRAK
Tue, Nov. 29, 8:55 AM
- Chevron (NYSE:CVX) is teaming up with Mexico's Pemex and Japan’s Inpex to bid for the right to explore for oil and natural gas in Mexico's first-ever deepwater auction, set for Dec. 5.
- The auction marks the first time Mexico's state-owned operator will partner with private companies to develop crude in the Gulf of Mexico, and is one of seven groups and eight individual bidders to qualify for participation.
- Total (NYSE:TOT) is joining forces with BP and Statoil (NYSE:STO) in one group, and with ExxonMobil (NYSE:XOM) in another, while Eni (NYSE:E) and Lukoil (OTCPK:LUKOY, OTC:LUKOF) also joined up, and Anadarko Petroleum (NYSE:APC) and Royal Dutch Shell (RDS.A, RDS.B) formed another group; other companies involved include BHP, CEO, MUR.
- The Mexican regulator has not specified which bids are for the Trion field joint venture with Pemex or for the other areas.
Mon, Nov. 28, 2:19 PM
- The Massachusetts Attorney General is protesting a Texas federal judge’s order that she travel to Dallas next month to answer questions under oath about her office’s climate change-related probe into ExxonMobil (XOM -0.1%).
- In court papers filed Saturday, AG Maura Healey’s office strongly objected to the judge summoning her to Texas, saying "courts should be particularly reluctant to permit the direct examination of a government prosecutor at the outset of her investigation. Doing so imposes systemic costs of particular concern."
- Healey and New York AG Eric Schneiderman each are examining whether XOM misled investors and the public by downplaying the impact of global warming, and XOM's complaint accuses the AGs of improperly coordinating with lobbyists and plaintiffs’ lawyers in an effort “to silence and intimidate one side of the public policy debate on how to address climate change.”
Wed, Nov. 23, 12:43 PM
- Exxon Mobil's (XOM +0.3%) oil refinery in Baton Rouge, La., is operating at planned rates after a fire on Tuesday that sent four employees to the hospital in critical condition, Reuters reports.
- The fire reportedly broke out in a compressor associated with an 18,750 bbl/day alkylation unit; all refinery units except for the compressor are said to be operating normally.
- The refinery is the fourth-largest in the U.S., with capacity to refine 502K bbl/day of crude oil.
Tue, Nov. 22, 3:37 PM
- With $4.5B of short interest, Exxon Mobil (NYSE:XOM) leads the way, followed by IBM at $3.7B. Rounding out the top ten: AT&T (NYSE:T), Caterpillar (NYSE:CAT), Chevron (NYSE:CVX), Boeing (NYSE:BA), GE, Procter & Gamble (NYSE:PG), Abbot Labs (NYSE:ABT) and Disney (NYSE:DIS).
- Most interesting from that list are Cat, Boeing, and Abbot Labs as their market caps are significantly smaller than the other seven.
- Of the top 50 short positions, there are two names in which the short interest rises to as high as 10% of the market cap: Freeport-McMoRan (NYSE:FCX) and Digital Realty Trust (NYSE:DLR).
- Previously: Goldman's list of stock longs mattering most to hedge funds (Nov. 22)
Mon, Nov. 21, 7:14 PM
- ExxonMobil (NYSE:XOM) and Chevron (NYSE:CVX) are among the oil majors least prepared for a shift to a greener global economy, according to a report by CDP, a non-profit group that collects company environmental data on behalf of 800-plus institutional investors.
- Only Suncor Energy (NYSE:SU) scores worse in the study of the readiness of big energy companies in transitioning to a low carbon economy and a future in which natural resources such as water become increasingly scarce.
- European companies fare the best: Statoil (NYSE:STO) ranked first, in part because it had the highest share of gas in its stock of proven reserves, Eni (NYSE:E) scored second, thanks to its big gas projects in the pipeline, and Total (NYSE:TOT) was third due to its stakes in SunPower and the Saft batery maker.
- XOM "performs below its peers in its emissions performance and wider climate governance and strategy considerations," according to the report.
Fri, Nov. 18, 5:58 PM
- A U.S. federal judge in Dallas today ordered the Massachusetts attorney general to appear for a deposition in ExxonMobil's (NYSE:XOM) lawsuit over the state's investigation into the company's climate change records.
- New York's attorney general, who is running a parallel investigation into XOM, was added to the company’s lawsuit last week and is fighting to avoid being deposed, but was "advised" today by the judge to also appear in Dallas.
- XOM is seeking an injunction barring the enforcement of subpoenas the AGs issued demanding documents relating to climate change research and investor communications stretching back decades.
- “We have no choice but to defend ourselves against politically motivated investigations that are biased, in bad faith and without legal merit,” XOM says.
- A former Maryland attorney general - who is not involved in this case - calls "unprecedented" the judge's move to allow a company under investigation by a state to sue and win permission to question law enforcement officers.
Fri, Nov. 18, 5:44 PM
- ExxonMobil (NYSE:XOM) has told the government of Guyana that it plans to fast-track development of the Liza discovery on the 6.6M-acre Stabroek block, along with partners (NYSE:HES) and Nexen (NYSE:CEO).
- XOM says its Liza-1 well encountered more than 295 ft. of high-quality, oil-bearing sandstone, and the Liza-2 well encountered more than 190 ft. of oil-bearing sandstone.
- The partners say Liza is a "world-class discovery" that probably will yield 800M-1.4B boe of crude.
Thu, Nov. 17, 5:16 PM
- The top Netherlands administrative court says it has received 25 appeals against the government’s decision to cap production at the Groningen gas field to 24B cm/year from groups who sought a steeper reduction to prevent earthquakes, which have damaged thousands of structures in the Dutch province.
- The Groningen field at one time supplied 10% of the European Union's gas demand but the figure has been cut in half over two years after the Dutch Safety Board said citizens were not protected adequately from earthquakes triggered by gas exploitation.
- Groningen is operated by a joint venture between Royal Dutch Shell (RDS.A, RDS.B) and ExxonMobil (NYSE:XOM).