Up 10% in the last year, at the current price of around $156 per share (as of Dec 11), we believe Chevron Corporation (NYSE: CVX), a company manufacturing and selling a range of refined petroleum products, including gasoline, diesel, marine, and aviation fuels, premium base oil, finished lubricants, and fuel oil additives - could see modest gains in the longer term. The company's stock gains are below the S&P 500 which gained about 31% over the same period and also below peer Exxon Mobil (NYSE: XOM) which is up 14% over the same period.
Recently, Zacks.com users have been paying close attention to Exxon (XOM). This makes it worthwhile to examine what the stock has in store.
Exxon Mobil's management highlighted their commitment to avoiding past stagnation. The company aims to maintain superior performance with consistent cost monitoring and maximum value disposals of non-core units. Management's focus on new goals after achieving current ones signals a proactive approach to sustaining business growth and sustaining dividend growth.
Goldman Sachs analyst Neil Mehta rated Exxon Mobil Corporation XOM Neutral and a price target of $125.
With a bold 2030 plan, XOM expects $20B in earnings and $30B in cash flow growth, investing in high-return projects, new businesses and carbon reduction solutions.
Two Democratic senators and a host of environmental groups have called for investigations and accountability following a report that a lobbyist for Exxon Mobil had been investigated for its alleged role in a sweeping hack-and-leak operation that targeted prominent critics of the oil company.
In trading on Wednesday, shares of Exxon Mobil entered into oversold territory, changing hands as low as $111.42 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.
ExxonMobil is doubling down on its commitment to pumping more oil and gas, announcing a long-term plan that focuses on taking advantage of its nearly $60 billion purchase of Pioneer Natural Resources earlier this year.
ExxonMobil announced plans on Wednesday to raise its oil production by 18% by 2030, investing between $28 billion - $33 billion annually to make it happen. While most of the capital will be dedicated to the company's core oil and gas business, the plans call for as much as $30 billion to be invested in low emissions projects through the company's Low Carbon Solutions business unit.
Domestic oil and gas production takes center stage in Exxon's latest capital project punch list.
Exxon Mobil said on Wednesday it expects annual project spending of $28 billion and $33 billion between 2026 and 2030, bolstered by the acquisition of Pioneer Natural Resources.
The country's largest oil company is designing a natural gas power plant outfitted with carbon capture technology to meet the voracious power demand of technology companies.