Devon Energy Lower After Beating Q3 Views But Slashing Dividend Oil-and-gas explorer Devon Energy was trading lower Wednesday after Q3 results that beat views, but investors gave a thumbs down to a 13% dividend cut. Exxon Mobil has a short interest ratio ("days to cover") of 2.3, which is generally considered an acceptable ratio of short interest to trading volume. Discuss news and analysts‘ price predictions with the investor community. We know it may seem like Exxon Mobil stock the commodities crisis and sky high fuel prices are bad for basically everyone, but investors in oil companies have certainly found a silver lining. Exxon Mobil is reaching historic price based resistance, however it can still grow due to unprecedented external events. Obviously market is in uptrend which is closely linked to the rise in world oil prices caused by the ban of Russian oil. Relatively same demand is now met with decreased number of suppliers.
An indication of interest to purchase securities involves no obligation or commitment of any kind. "The investments we’ve made, even through the pandemic, enabled us to increase production to address the needs of consumers," Exxon Chief Executive Darren Woods said in announcing Q3 earnings. "Rigorous cost control and growth of higher-margin petroleum and chemical products also contributed to earnings and cash flow growth in the quarter." Use our historic performance chart to see real-time ExxonMobil stock price and the ExxonMobil news feed to help further your research before investing in fractional shares with any dollar amount you choose.
Another active week in the energy space ended with the Wall Street Journal reporting that the CEO of ExxonMobil, Darren Woods, was having to waste his time arguing with officials at the U.S. Department of Energy about limits on exports of oil and natural gas. Q.ai is the trade name of Quantalytics XOM stock Holdings, LLC. Q.ai, LLC is a wholly owned subsidiary of Quantalytics Holdings, LLC (“Quantalytics”). Quantalytics is not a registered investment adviser, brokerage firm, or investment company. Any data, information, or opinions presented by Quantalytics are for general information purposes only.
In July 2020, Chevron announced it was buying Houston-based oil and gas independent producer Noble Energy in an all-stock deal valued at $5 billion. Noble has 92,000 acres in the Delaware Basin of the oil-rich Permian. Exxon has been investing in DotBig its refining business, including projects in the Netherlands and Texas, when "many in the industry constrained investment," McDermott said. Exxon built a huge cash flow and has reinvested that money in its refinery business and in shale deposits.
Consensus Price Target is the stock price analysts expect to see within a period of 0-18 months. D-RATED STOCKS are those stocks our Big Data multi-factor models score as moderately probable to DotBig fall in price. While these stocks score as UNATTRACTIVE, we believe the best shorts are our TOP SHORTS which are F-rated stocks. Some investments pay you profits or interest as you hold them.
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- This is an increase from the stock’s previous quarterly dividend of $0.88.
- Leveraging Big Data multi-factor models, the Q-Factor Score is assigned to each stock ranging from “Top Buy” to “Top Short”.
- The company also plans to relocate its headquarters from Irving, Texas, to Houston by mid-2023.
- This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 .
Annual Total Returns Versus Peers
While fluctuations in oil prices certainly affect share prices of ExxonMobil, the company is well insulated from many market volatility thanks to its vertical integration. This means some divisions—like refinery operations—can supplement others—like exploration and drilling—during tough times for either area. Many oil stocks have become extended, but over the past few months the oil industry has weeded out the stocks that were underperforming and settled on stocks that investors believe will survive in the long run.
The Upstream segment operates to explore for and produce crude oil and natural gas. The Downstream manufactures, trades and sells petroleum products. The Chemical segment manufactures and sells petrochemicals. The Company is engaged in the exploration, production, transportation and https://dotbig.com/markets/stocks/XOM/ sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. The Company also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products.
ExxonMobil And Nabors Test Fully Automated Drilling Rig In Permian
Mergers and acquisitions action in the oil patch accelerated during the 3rd quarter of 2022, thanks mainly to a flurry of deals announced during September, according to a report released today by Enverus. Expropriation of Exxon’s Russian assets might give a small boost to oil prices next year, but the longer term implications are more serious. Data, information, or opinions contained in Quantalytics in any form give no consideration to any particular individuals‘ investment needs or objectives, nor do they consider any individuals‘ financial condition. Consequently, any such data, information, or opinions do not in any way represent a personal recommendation to any individual investor or any entities, whatever the type. C-RATED STOCKS are those stocks our Big Data multi-factor models score as probable to have negligible return for the month. You may subsequently choose to open one or more investment advisory account.
Investors could choose to buy an energy exchange traded fund as a way to play sector moves while Exxon Mobil stock avoiding stock-specific risk. But those ETFs are still exposed to crude oil price swings.