Real-time Market Overview
Cboe BZX
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Timestamp: 11:09:16 AM EST, February 12, 2025
Market Performance
– Current Price: 108.99 USD
– 5-Day Change: -1.53%
– Year-to-Date Change: +1.56%
Exxon Mobil Updates
– 10:02 AM: Exxon plans to expand oil and gas production in Guyana, currently seeking permits for the Longtail project.
– 09:42 AM: The Exxon consortium is in pursuit of an environmental permit for operations in Hamlet.
– 09:36 AM: Exxon has successfully completed an appraisal of gas resources in Guyana.
– 09:28 AM: The oil production from the Exxon-led consortium in Guyana has the potential to increase significantly.
– 09:24 AM: Exxon has requested an environmental permit for the Longtail project.
– 09:24 AM: An Exxon Mobil executive has confirmed that the company submitted an Environmental Impact Assessment.
– 07:22 AM: Reports indicate that Black Sea CPC Blend oil loadings increased by 7.7% in January compared to December, based on Reuters calculations.
Industry News
– February 11: Guyana issues a 30-day notice to revoke Frontera and CGX Energy’s license.
– February 11: Chevron’s reserves have fallen to the lowest levels in a decade.
– February 11: Tanzania aims to finalize talks regarding an LNG project by June.
– February 11: Chevron faces challenges in replacing oil and gas reserves amidst uncertainty related to the Hess deal.
– February 10: BP shares reached their highest level since August following news of an Elliott stake.
– February 10: Activist investor Elliott has increased its stake in BP, according to Bloomberg.
– February 07: Chevron ramps up oilfield operations in Kazakhstan, sources report.
– February 06: Oil and gas traders are seeking tariff exemptions from Beijing for imports from the US.
– February 05: Energy stocks experienced a rise late afternoon.
Analyst Updates
– February 05: Mizuho adjusts Exxon Mobil’s price target from $134 to $131.
– February 05: Exxon Mobil has listed Pioneer’s headquarters for lease.
– February 05: UBS revises Exxon Mobil’s price target to $146 from $147 while maintaining a Buy rating.
– February 05: Equinor has recruited a former crude oil trader from Exxon.
– February 05: Vietnam has revised its gas and offshore wind targets in a new power plan.
– February 04: Goldman Sachs adjusts Exxon Mobil’s price target to $117 from $123, maintaining a Neutral rating.
Exxon Mobil Corporation Overview
Exxon Mobil Corporation operates primarily in three segments:
1. Refining and Distribution (85.8% of net sales): Reports indicate 5.5 million barrels of oil products (including diesel, gasoline, and lubricants) sold daily in 2023.
2. Exploration and Production of Hydrocarbons (7.6%; global leader): Producing 2.4 million barrels of oil and 219.1 million m³ of natural gas per day.
3. Petrochemical (6.6%): Involves the sale of oils, aromas, alcohols, and polymers (19.4 Mt sold in 2023) for various industries including pharmaceutical and cosmetic sectors.
Geographical Distribution of Net Sales:
– United States: 38%
– Canada: 8.7%
– United Kingdom: 7%
– Singapore: 4.6%
– France: 4.4%
– Australia: 3%
– Belgium: 2.9%
– Germany: 2.8%
– Other: 28.6%
Market Consensus
– Last Close Price: 111.67 USD
– Average Target Price: 129.25 USD
– Spread / Average Target: +15.74%
– Consensus Rating: Sell/Buy Mix
