The energy sector and WTI crude oil prices spiked following the escalation in the Middle East after Iran launched a missile attack on Israel earlier this month. Initial fears of conflict disrupting global oil supplies, mainly through the vital Strait of Hormuz.
XOM plans to sell part of its North Dakota Bakken shale assets. This move is expected to generate more than $500 million as the company refocuses on high-growth regions.
Exxon (XOM) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Top U.S. oil producer Exxon Mobil Corp plans to sell a portion of its assets in North Dakota's Bakken shale formation, the company told Reuters on Tuesday.
In the most recent trading session, Exxon Mobil (XOM) closed at $124.08, indicating a +0.38% shift from the previous trading day.
California's Attorney General Rob Bonta has sued ExxonMobil because unrecycled plastic waste has accumulated in California. The lawsuit claims ExxonMobil has misled the public for decades over the ability to recycle plastic waste, and that plastics recycling was, to paraphrase, overhyped.
XOM strengthens its carbon capture position by securing the largest U.S. offshore CO2 storage site, further supporting emission reduction and advancing net-zero goals.
Exxon Mobil is set to benefit from higher crude oil prices and expanding production, particularly from its recent Permian asset acquisition. The stock has strong momentum, breaking above key moving averages, and is expected to announce a dividend increase soon. The U.S. economy's solid labor market and moderating inflation further support XOM's bullish outlook.
ExxonMobil continues to outperform other integrated oil and gas majors.
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.