Exxon Mobil Corporation (XOM)
Calpers to Vote Against Exxon Board Members, Citing Lawsuit Against Arjuna and Follow This
By Josh Beckerman The California Public Employees' Retirement System said it would vote against all of Exxon Mobil's board members, saying the company's lawsuit against two sustainable investment firms could have severe repercussions. Exxon Mobil sued Arjuna Capital and Follow This in January, seeking to block a shareholder proposal that called for Exxon Mobil to accelerate the pace of greenhouse-gas-emission reductions, including from the company itself and its customers. The company said the firms were seeking "to force Exxon Mobil to change the nature of its ordinary business or to go out of business entirely." Arjuna and Follow This withdrew the proposal. Calpers said Monday that "decades of shareholder rights are under threat" and that, if the suit succeeds, it "could diminish the role--and the rights--of every investor in improving a company's bottom line." Exxon Mobil said it has "engaged with CalPERS on this matter and do not understand how they can make such a poor fiduciary decision to vote against a board that has overseen the creation of industry-leading shareholder value." "We welcome working with CalPERS and others to address issues in the shareholder proposal process," the company added. Write to Josh Beckerman at [email protected] (END) Dow Jones Newswires 05-20-24 1509ET
ExxonMobil faces opposition from CalPERS after 'devastating' anti-ESG activist suit
CalPers is withholding its support for Exxon CEO Darren Woods after the company sued environmentally-focused activist investors.
ExxonMobil (XOM), Pertamina Progress on CCS Hub in Indonesia
A joint study by Pertamina and ExxonMobil (XOM) estimates the basin to store up to three gigatons of carbon dioxide, potentially requiring an investment of $2 billion.
Shareholder Drama Strikes Exxon Mobil (NYSE:XOM), Shares Slip
When shareholders start getting opposed to board directors, there can be a lot of drama to come out of such friction. That’s what happened recently as Calpers, the California pension
CalPERS to vote against all 12 Exxon directors, citing lawsuit
The California Public Employees' Retirement System said on Monday it will vote against all 12 director nominees at Exxon, citing the company's lawsuit against activist investors.
CalPERS to vote against Exxon board members
CalPERS, the biggest public pension plan in the United States, said on Monday it would vote against all Exxon Mobil board members at its upcoming annual meeting on May 29, citing the oil major's legal action against activist investors.
Zacks Research Analysts Lift Earnings Estimates for Exxon Mobil Co. (NYSE:XOM)
Exxon Mobil Co. (NYSE:XOM – Free Report) – Research analysts at Zacks Research boosted their Q2 2024 earnings estimates for shares of Exxon Mobil in a research report issued on Friday, May 17th. Zacks Research analyst R. Department now anticipates that the oil and gas company will earn $2.47 per share for the quarter, up from their previous forecast of $2.40. The consensus estimate for Exxon Mobil’s current full-year earnings is $9.57 per share. Zacks Research also issued estimates for Exxon Mobil’s Q3 2024 earnings at $2.46 EPS, FY2024 earnings at $9.33 EPS, Q3 2025 earnings at $2.59 EPS and Q1 2026 earnings at $2.66 EPS. Exxon Mobil (NYSE:XOM – Get Free Report) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $2.06 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.13). Exxon Mobil had a return on equity of 16.75% and a net margin of 9.62%. The firm had revenue of $83.08 billion for the quarter, compared to analyst estimates of $79.69 billion. During the same period in the previous year, the business posted $2.83 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. XOM has been the subject of several other research reports. Piper Sandler lifted their price objective on shares of Exxon Mobil from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, April 18th. TD Cowen upped their price objective on shares of Exxon Mobil from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Barclays began coverage on Exxon Mobil in a research note on Wednesday, April 10th. They set an “overweight” rating and a $147.00 target price for the company. HSBC raised their target price on Exxon Mobil from $111.00 to $120.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company boosted their price target on Exxon Mobil from $138.00 to $142.00 and gave the stock an “overweight” rating in a report on Tuesday, April 30th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Exxon Mobil currently has an average rating of “Moderate Buy” and a consensus price target of $135.00. Check Out Our Latest Research Report on XOM Exxon Mobil Stock Up 1.5 % XOM opened at $119.64 on Monday. The stock has a fifty day moving average of $117.09 and a 200-day moving average of $107.57. The company has a market capitalization of $471.74 billion, a P/E ratio of 14.66, a P/E/G ratio of 4.17 and a beta of 0.96. Exxon Mobil has a fifty-two week low of $95.77 and a fifty-two week high of $123.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.38. Exxon Mobil Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a $0.95 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.18%. Exxon Mobil’s dividend payout ratio (DPR) is currently 46.57%. Insider Activity In other news, VP Darrin L. Talley sold 2,426 shares of Exxon Mobil stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $119.01, for a total value of $288,718.26. Following the completion of the transaction, the vice president now directly owns 25,363 shares of the company’s stock, valued at approximately $3,018,450.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Darrin L. Talley sold 2,400 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $105.00, for a total transaction of $252,000.00. Following the transaction, the vice president now owns 30,189 shares of the company’s stock, valued at approximately $3,169,845. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Darrin L. Talley sold 2,426 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $119.01, for a total value of $288,718.26. Following the completion of the sale, the vice president now directly owns 25,363 shares of the company’s stock, valued at $3,018,450.63. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock. Institutional Inflows and Outflows Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC raised its position in Exxon Mobil by 10.7% in the 4th quarter. Root Financial Partners LLC now owns 2,054 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 199 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Exxon Mobil by 83.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,269,030 shares of the oil and gas company’s stock valued at $149,213,000 after purchasing an additional 575,649 shares during the last quarter. Qsemble Capital Management LP lifted its position in shares of Exxon Mobil by 34.3% during the third quarter. Qsemble Capital Management LP now owns 4,700 shares of the oil and gas company’s stock valued at $553,000 after purchasing an additional 1,200 shares in the last quarter. RNC Capital Management LLC boosted its holdings in Exxon Mobil by 5.5% during the fourth quarter. RNC Capital Management LLC now owns 87,926 shares of the oil and gas company’s stock worth $8,791,000 after purchasing an additional 4,585 shares during the last quarter. Finally, Dupree Financial Group LLC bought a new stake in Exxon Mobil in the 4th quarter worth about $378,000. Institutional investors own 61.80% of the company’s stock. Exxon Mobil Company Profile (Get Free Report) Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas.
Oil & Gas Stock for Options Bulls
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