XOM Stock Recent News

Exane BNP Paribas has revised its rating for ExxonMobil (XOM, Financial) from "Neutral" to "Underperform".

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Exxon Mobil's stock recently hit a new high. The market appears to be finally seeing the effects of Exxon Mobil's growth and income strategy. Oil and gas is historically cheap, but it will likely return to historical valuations. Expect Exxon Mobil common stock to lead the way.

Exxon is a leader in making money in the oil patch.

Shell PLC (LSE:SHEL, NYSE:SHEL) weighed in with what is likely to be part of a sectorwide rebasement of forecasts as it reported a sharp decline in refining profit margins for the third quarter due to weaker global demand. In a trading update ahead of its quarterly results, Shell noted that indicative refining margins fell by nearly 30%, dropping to $5.5 per barrel from $7.7 in the previous quarter.

Shares in ExxonMobil (XOM) could remain in focus this week after setting a record high on Friday as investors bid up energy stocks over mounting concerns that escalating tensions in the Middle East could disrupt global oil supplies.

Exxon Mobil's breakout from a two-year trading range, driven by rising oil prices due to Middle East tensions and Chinese stimulus, signals potential continued gains. The company's fair value is estimated at $140 per share, with potential for further growth from Permian Basin and Guyana developments, and continued increases in crude pricing. Exxon Mobil's dividend is well-covered and likely to increase, supported by higher oil prices and efficient cost management.

ExxonMobil (XOM) warned that lower oil prices and refining margins will have a negative impact on third quarter results as compared to the previous quarter.

Exxon Mobil (XOM, Financial) is set to report its Q3 results in late October, highlighting the impact of declining oil prices and weaker refining margins on its earnings. The company anticipates a hit to its Q3 profits due to these factors, with an estimated $600 million to $1 billion loss in its upstream business from softer oil prices and another $600 million to $1 billion loss from significantly lower industry refining margins, which are normalizing from the historically high levels of the previous year.

Recently, Zacks.com users have been paying close attention to Exxon (XOM). This makes it worthwhile to examine what the stock has in store.