Exxon Mobil beat Wall Street estimates for third-quarter earnings on Friday, underpinned by higher oil and gas production in Guyana and the Permian Basin which offset lower oil prices.
Oil major Exxon Mobil said on Wednesday it has named industry veteran Gregory Garland to its board of directors, effective November 3.
XOM gears up for Q3 results as earnings forecasts dip, valuation stays rich and energy price shifts shape investor sentiment.
Venezuela is asking its neighbor Trinidad and Tobago to provide the location and other details of the first field tests to be conducted by energy producer Exxon Mobil in a large offshore area it was recently awarded in the Caribbean country, according to two sources and a document seen by Reuters.
Oil giant challenges California's greenhouse gas reporting requirements for large businesses, arguing the climate laws exceed state authority and conflict with federal rules.
Exxon Mobil sued California on Friday, challenging two state laws that require large companies to publicly disclose their greenhouse gas emissions and climate-related financial risks.
Two Indian refiners have bought 4 million barrels of Guyanese crude oil from U.S. major Exxon Mobil to be delivered at end-2025 or in early 2026, in their first imports from the South American producer, trade sources said on Friday.
XOM's robust balance sheet, low debt and strategic flexibility help it weather energy price swings and maintain shareholder rewards.
XOM considers re-entry to Iraq with a deal to develop the vast Majnoon oil field, signaling renewed ties and major production ambitions.
XOM expects a Q3 earnings boost from higher oil and refining margins, but its valuation and yield may give investors pause.
Exxon (XOM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Exxon Mobil is reiterated as a Buy with a $147 price target, driven by strong dividend yield and robust long-term growth prospects. XOM's Guyana and Permian asset development, synthetic graphite expansion, and Proxxima product rollout are expected to boost margins and diversify earnings. Recent trade deals, LNG export approvals, and a strong financial position support XOM's outlook, with share repurchases enhancing shareholder value.