Exxon Stock News

WTI Dips After Gasoline Inventories Build For 5th Straight Week Oil prices chopped around today but held on to gains, with WTI hovering around $88 (7 year highs) ahead of tonight''s API inventory data as investors await an OPEC+ meeting this week to decide how much production the group will add; and Exxon Mobil which said it expects to increase output in the Permian Basin by 25% this year. The ceiling for oil prices further out will be a lot lower as oil giants will take advantage of these high prices," said Ed Moya, Oandas senior market analyst for the Americas. Crudes recent surge has been supported by a tight global market and geopolitical concerns over Ukraine, even though Russia has denied it plans to attack its neighbor. API Crude -1.645mm (+1.833mm exp) Cushing -1.031mm Gasoline +5.816mm Distillates -2.508mm After two weeks of surprise builds, crude stocks unexpectedly drewdown last week but gasoline stocks continue to build (5th week in a row) Source: Bloomberg WTI was hovering just below $88.50 ahead of the print and faded very modestly after the disappointingly large build in gasoline stocks...

Stocks Analysis by Zacks Investment Research covering: Chevron Corp, Exxon Mobil Corp, Brent Oil Futures, Natural Gas Futures. Read Zacks Investment Research''s latest article on Investing.com

Oil Entering "Political Intervention Territory" Goldman Warns; Could Force OPEC+ To Boost Output Exxon - a name we have been bullish on since early 2020 - finally exploded today after reporting blockbuster earnings, and has helped move the entire energy sector even deeper into the green YTD amid a devastated stock market landscape ... a move which when stripped of noise, has been due to just one thing: the ascent of oil (thank you Biden "Green" agenda and ESG for crushing energy capex spending and sending prices soaring ) ever since its historic plunge in deep negative territory (at least for the WTI front contract) on April 20, 2020. Drilling into this move, which has helped push inflation higher and send Biden''s approval rating to the toilet, Goldman''s commodity strategist Damien Courvalin writes today that Brent oil prices have rallied past $90/bbl (hitting the bank''s 1Q22 forecast), "driven by tight fundamentals, with steep inventory draws leaving the market with concerning low inventory levels across a range of petroleum products and regions." It is in this context that OPEC+ meets this Wednesday (February 2) to set their production plans for March, with the group so far notably quiet on their decision, and even following today''s meeting of the OPEC+ Joint Technical Committee it did not discuss an output hike of more than 400K, the baseline that has been the norm for the past few months.

Shares of the energy company gained after it reported earnings, though it was likely some of the other news that investors were pleased by.

ESG Investing - The Great Wall Street Money Heist Authored by Lance Roberts via The Epoch Times, Wall Street is once again in the midst of a money heist from naive investors. This time in the form of woke activism called ESG. ESG refers to the Environmental, Social, and Governance risk theoretically embedded in a business. However, while ESG investing is about taking these risks into account in investment decisions, these are all the things NOT on a companys balance sheet or earnings statements. Such is the inherent problem. However, as is also the case, with the recent surge in liberal policies, woke activism, and demand for social justice, Wall Street is more than willing to sell products to fill a need. Not surprisingly, with plenty of media coverage, ESG investing has become an enormous business. Following the financial crisis, ESG funds had roughly a ZERO market share of total assets under management. Today, ESG-labelled funds in the United States exceed $16 trillion. The question is whether investors are getting what they are paying for?

US stocks are getting pulled all over the place as investors digest both a wrath of economic data and a chorus of Fed speak that has de-escalated aggressive tightening fears for now. Impressive earnings from UPS and Exxon helped risk appetite early but that faded quickly as traders remain fixated over everything about inflation. For []

U.S. shares inched up at the open on Tuesday, extending gains from the past two sessions, as focus turned to data on manufacturing and job openings, while Exxon Mobil and United Parcel Service gained on strong results.

In 2021, ExxonMobil posted its largest profit in seven years, as soaring energy prices added more than $100 billion in revenue to the company''s top line.

UPS and XOM gained ground on earnings news. Quarterly results weighed on WWD. T retreated after revealing additional details of its DISCA transaction.

The oil and gas giant said it would resume its stock buyback program by repurchasing $10 billion in shares over the next two years.

Futures Reverse Gains As Nail-biting Volatility Enters February World stocks began the new month on firmer ground, after a volatile January, as reassuring comments from Federal Reserve officials helped to calm rate-hike jitters even though US futures failed to extend recent gains. After closing out January with a furious two-day, dip-buying meltup thanks to a flood of inbound month-end rebalancing, US index futures briefly traded through Mondays highs, backed by decent rally in European equities where financials outperformed, boosted by solid UBS earnings, before dipping lower as the volatility seen in past days lingered. At 7:00am ET, emini S&P futures traded 0.23%, or 10.5 points lower, Nasdaq futures were also red, some 31 points or 0.15% lower, and Dow futures dropped 0.2% as investors weighed cautious rate-hike commentary from Fed officials and awaited earnings from firms including Alphabet and General Motors. Treasuries climbed and the dollar weakened. Oil fell, but held close to seven-year highs.

Shares of Exxon Mobil Corp. rallied 1.8% toward a 2 1/2-year high in premarket trading Tuesday, after the oil giant swung to a net profit, with adjusted results beating estimates, and reported a more than 80% rise in revenue, although it came up shy of forecasts. Net income was $8.87 billion, or $2.08 a share, after a loss of $20.07 billion, or $4.70 a share, in the year ago period. Excluding nonrecurring items, adjusted earnings per share rose to $2.05 from 3 cents, topping the FactSet consensus of $1.94. Total revenue grew 82.6% to $84.97 billion, but was below the FactSet consensus of $85.01 billion. Oil-equivalent production was 3.8 million barrels per day, and rose 2% when excluding entitlement effects, divestments and government mandates. For downstream refining throughput was the highest since 2013, and refining margins improved from the third quarter amid increased transportation demand and easing mobility restrictions. Separately, the company said it has initiated share repurchases as part of the previously announced buyback program of $10 billion.

(Reuters) U.S. stock index futures eased on Tuesday ahead of data on manufacturing activity and job openings, with earnings from companies such as Exxon Mobil and Google parent Alphabet due later in the day.

Exxon Mobil posted better-than-expected fourth quarter earnings Friday, while unveiling plans for a $10 billion share buyback, as surging global oil and gas prices helped deliver the strongest group profits in seven years.

Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, the largest in seven years ago, as the top U.S. oil producer benefited from strong energy prices.