XOM is trading just below its all time highs. Scotiabank analysts believe there is more upside, driven by global conflicts and a strong asset portfolio.
ExxonMobil continued the advancement of its carbon capture and storage plans with a pair of major announcements this week.
An ExxonMobil-led consortium will move to the second phase of seismic research for gas exploration in a block off the Greek island of Crete, Greece said on Thursday.
Exane BNP Paribas has revised its rating for ExxonMobil (XOM, Financial) from "Neutral" to "Underperform".
Exxon Mobil NYSE: XOM is still a cheap stock, but the value won't last long. Technically speaking, the market has broken a significant resistance point and is on track to hit the $138 level soon and $200 over the next 12 to 24 months.
Exxon Mobil (XOM) concluded the recent trading session at $125.37, signifying a +0.43% move from its prior day's close.
XOM anticipates a decrease in crude prices to reduce $600 million to $1 billion in upstream profit.
Exxon Mobil's stock recently hit a new high. The market appears to be finally seeing the effects of Exxon Mobil's growth and income strategy. Oil and gas is historically cheap, but it will likely return to historical valuations. Expect Exxon Mobil common stock to lead the way.
Exxon is a leader in making money in the oil patch.
Shares in ExxonMobil (XOM) could remain in focus this week after setting a record high on Friday as investors bid up energy stocks over mounting concerns that escalating tensions in the Middle East could disrupt global oil supplies.
Exxon Mobil's breakout from a two-year trading range, driven by rising oil prices due to Middle East tensions and Chinese stimulus, signals potential continued gains. The company's fair value is estimated at $140 per share, with potential for further growth from Permian Basin and Guyana developments, and continued increases in crude pricing. Exxon Mobil's dividend is well-covered and likely to increase, supported by higher oil prices and efficient cost management.
ExxonMobil (XOM) warned that lower oil prices and refining margins will have a negative impact on third quarter results as compared to the previous quarter.