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Exxon Mobil Corporation (XOM)

NYSE - NYSE Delayed price. Currency in USD
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55.16-0.66 (-1.18%)
At close: 4:05PM EDT
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  • G
    Gerhard
    Interesting, we had a strong retracement after bouncing off of the 200 week sma on the weekly chart. I say interesting because this week we just got more and more solid news that should support much higher earnings for XOM. Those earnings and the cash they generate won't be ignorable much longer, especially if XOM sell significant assets this year and gets the debt under control allowing them to buy back shares sooner rather than later.

    My guess is various search algorithms and algorithms in general don't like our training earnings and until that is cleared up likely won't get positive on the stock. So we are left with mostly ETF driven flows and as people rotate into XLE on an energy play that should be a positive. Till then we will need real news to change sentiment and move the stock up against the market.
  • D
    David
    From the Guardian (UK) this morning:

    "The government was scrambling on Saturday night to reassure Britons that rising gas prices would not plunge the country into an energy crisis, as ministers held a series of emergency meetings with energy companies and regulators to establish whether the nation could keep the lights and central heating on this winter."
  • G
    Gerhard
    Wow, they deleted the post where I linked to a nice article on the multi year growing energy crisis in Europe. Had some very nice data in it that was really relevant the most important of which was the spot price for LNG around the world and that the Asians are in a bidding war with the Europeans. Prices are already north of $20 up from lows earlier this year around $5. Whomever has natural gas they can sell at those prices is making a fortune.
  • R
    R.F.
    Well, this morning's news is alive with the UK natural gas crisis story. UK television coverage is non-stop. It's the knock-on food shortage (among other gas related issues) that has people scared. Maybe UK investors will connect the dots and buy oil and gas producers such as XOM on Monday, setting off a rally that will continue when US markets open?
  • T
    The beast master
    JP and the FED are signaling no tapering until November.. anyone have a clue what that will mean for oil?
  • G
    Gerhard
    Just running some numbers on nat gas. If we assume like oil that buyers use futures prices to purchase nat gas for delivery much like they do oil we would be looking at almost a $1 increase in Q3 compared to Q2. So if our friend is right on the volumes that could be $1B more in cash from nat gas in Q3. Oil prices are also much stronger in Q3 than they were in Q2 but we have to assume they likely hedged a third of their production earlier in the year when prices moved north of $50.

    So I think nat gas will make it clear that Q3 will be an upside surprise. Q4 is also looking very strong right now, so if nat gas prices don't decline going into winter we could see over a $2B boost to Q4. So basically nat gas alone may boost earnings by $0.60+ compared to Q2 level predictions.
  • R
    R.F.
    Finally, for whatever it's worth: In 2020, Exxon Mobile sold 86 million tons of LNG, 25% of worlds total volume.
  • R
    R.G.
    A Problem Developing
    for owners of EV's during a power outage like several of the Gulf States are experiencing now. How are these people making it to work if they don't have a second gas burning automobile?
    With the expected new demand for energy, our new administration better give some priority to updating our worn out power grid or this country could be in serious trouble.
  • S
    Steven
    Too funny (not really)... A Houston area Tesla friend of mine affected by Nicholas has no power. He asked if he could borrow one of our cars. He does, however, expect the power to be back on today or sometime early tomorrow... As of 7:30 CDT, still around 40,000 without power.
  • D
    Dr Deplorable
    I really like the comment from the Chevron CEO on going green: We will give our shareholders dividends so they can plant trees.
  • B
    Bia
    In 2020 Exxon sold 11162 Million cubic feet or 11,474,536 MMBTU of Natural gas per day according to their 2020 operating and financial data report. That was a slow year but let’s just go with that number. That’s an extra billion per quarter for per dollar increase on nat gas alone. At $5 per MMBTU we are at least 2 billion above cost per quarter.

    Whether in oil, gas or chemicals, this is the quarter where we will find out that an investment on Exxon just can’t lose.
  • o
    oveson
    If you’re looking for a short and sweet guide to the day’s biggest news, I recommend (http://Pick-stocks.com). They breakdown the most important pre-market news and it only takes a few minutes to read.
  • R
    R.F.
    Knock on effect: Major UK fertilizer plants shut down due to high natural gas prices. Co2 by product from making fertilizer from natural gas feed stock used big time in day to day UK consumer food chain. Trouble is brewing. Only a few days supply Co2 available. Big media topic next week. Good time to own XOM shares.
  • K
    Kawazunohito
    I'm going to reiterate my public position on the O&G sector... in the not too distant future, you're going to have a political $..tshow of humorous proportions. On one hand, politicians are going to continue manipulating emotions by hyping 'climate change' (curious note, we're almost through Hurricane season with only one Major Hurricane that coincidentally plays into this observation as it impacted the O&G sector) to achieve their policy objectives. Simultaneously, they'll soon start demonizing the O&G sector for not producing enough oil&ng to ensure that Americans have cheap/abundant energy on demand... It'll make for for strange double-talk from a particular political party... XOM should embrace this and start an advertising campaign along the lines of 'XOM We Power America' and launch into an investor push where they explain they'll wean into 'green transition' while maintaining cheap/abundant energy (yeah, this is what they're doing anyway, but get ahead of the demonizing). Watch in November/December when politicians don't know what to do with the sector (love them to produce much needed energy relief, or continue demonizing them because of 'climate change'). GL, more or less just a musing on what is to come...
  • ẞeyhmus
    CN is signaling another housing crisis. Let's see if that spills into other economies. I don't think this time there will be a financial crisis, however this could have immense effect on customer spending.

    In Turkey, house prices and rents increased 60-100% YTD while inflation is about 20%.
  • R
    R.F.
    Although the broader market rules for the moment, the world is waking up. All will pay dearly for anything associated with crude oil and natural gas in days, months and years to come. The cheap gasoline, diesel and natural gas bonanza caused by US shale's insane overproduction is H-I-S-T-O-R-Y. Idealistic Greens have made matters worse. They better sit down and shut up. In the eyes of those who struggle to heat their homes and buy transportation fuel they are now Worldwide Public Enemy Number One. Good time to own XOM shares.
  • j
    jack
    Lawrence McDonald (via Twitter)
    "Oil is approaching $80 a barrel and there are still 200 million people in India* without access to electricity and 1 billion people in China* without an automobile.
    *Colossal future demand for energy, the fastest growth on earth."
  • B
    Bill
    XOM is setting up to be one of the lowest cost producers of oil in the world thanks to Guyana. They probably will be able to build a refinery there in the future ( something you can't do in the USA ). So while the US and Europe wrap themselves in a green flag the rest of the world will be buying Exxon oil.
  • R
    R.F.
    One can expect political conservatives in the US, UK and elsewhere to ratchet up the anti-Green rhetoric, blaming the liberal idealists for the working man's pain at the pump and over the top natural gas prices. And rightfully so. Also, Friday's XOM Nigerian pump on CNBC indicates that Wall Street is finally catching on. Overall, XOM is spring loaded and ready to move up when broader market jitters subside.
  • A
    Anonymous
    Discovery at Pinktail in Guyana gives value to our shares with XOM.

    “These discoveries are part of an extensive well program in the Stabroek Block utilizing six drillships to test play extensions and new concepts, evaluate existing discoveries and complete development wells for the Liza Phase 2 and Payara projects,” said Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil. “Our exploration successes continue to increase the discovered resource and will generate value for both the Guyanese people and our shareholders.”