California has filed a lawsuit against oil giant Exxon Mobil over its alleged role in global plastic waste pollution, its attorney general announced on Monday.
Exxon (XOM) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
We maintain a HOLD rating for Exxon Mobil shares, reflecting updated forecasts for oil prices, production, and market conditions. The Pioneer Natural Resources acquisition is expected to significantly boost Exxon Mobil's oil and gas production, enhancing operational efficiency and synergies. Revised forecasts predict a shift from oil market deficit to surplus in 2025, with adjusted Brent oil price expectations for 2H 2024 and 2025.
Exxon Mobil (XOM) reachead $114.18 at the closing of the latest trading day, reflecting a +1.3% change compared to its last close.
Exxon Mobil on Monday said it is working to safely restart operations at its Hoover offshore platform in the Gulf of Mexico.
XOM's strong fundamentals drive premium valuations with high growth expectations, but there remains some uncertainty.
XOM CEO Darren Woods promises legal action against activist shareholders who abuse the proxy process, aiming to protect broader shareholder interests.
In the most recent trading session, Exxon Mobil (XOM) closed at $109.72, indicating a -0.99% shift from the previous trading day.
Recent stock price pullback has made XOM an attractive option for commodity exposure under Ray Dalio's 4-asset model. XOM's profit displays strong correlations with natural gas and oil prices. In addition, XOM shares offer a discounted valuation due to recent price corrections.
Exxon CEO Darren Woods on Tuesday had warning words for activist shareholders thinking to emulate those who filed a climate-related shareholder proposal at the largest U.S. oil company.
ExxonMobil has reportedly backed out of a race to buy oil assets in Namibia. Crude oil prices, meanwhile, are falling as fears of a demand and supply imbalance grip oil markets.
XOM's RSI is at 46.85, indicating neutral momentum, while the VPT suggests stable accumulation and moderate buying interest. XOM is trading below its historical P/E and price-to-free-cash-flow metrics, presenting an attractive entry point. ExxonMobil generated $25.2 billion operational cash in H1 2024, supporting a $20 billion share repurchase plan through 2025.