Dernières nouvelles pour Exxon Mobil (NYSE:XOM) Stock

Exxon Mobil

ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At the end of 2023, reserves were 16.9 billion barrels of oil equivalent, 66% of which were liquids. The company is one of the world's largest refiners with a total global refining capacity of 4.5 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.

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Everyone is now focused on mainstream Chinese stocks and their rallies resulting from the recent 50 basis point interest rate cut that the government just implemented there. However, these trades in names like Alibaba Group&nbsp;or Baidu Inc.&nbsp;might be getting a bit too crowded now. So, the next logical step is to look at the falling dominoes.
In this case, investors need to lean on the fundamentals of Chinese growth and its effects on other economies that support it, such as oil and steel exporters, or any commodity-based economy for that matter. Because China draws over a third of the world&#39;s oil demand, and its infrastructure demands are one of the biggest in the world as it is still a nation in its building, investors might want to focus on Brazil and even Australia to find potentially bullish trends.
It is stocks like Vale (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vale#NYSE">VALE</a>) acting as a steel and iron ore maker, which exports a large amount of its inventory to China, or companies like BHP Group Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bhp#NYSE">BHP</a>) in the basic materials sector from Australia exporting more metal needs to China, and even the unlikely Exxon Mobil Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) in the United States acting as a support pillar in China&#39;s energy sector.
<h2>Key Tailwinds Position Vale Stock to Outperform the Market</h2>
Understanding that Brazil is now under new presidential leadership is vital. The ties between Brazil and China are stronger under this new administration, and therefore, exports from Vale may be one of the most bullish tailwinds that could hit the company in the coming quarters.
Now that the stock trades at 73% of its 52-week high, investors have a wider gap to run higher in a potential recovery or nearing previous highs. Here&#39;s what Wall Street has to say about this potential run-up. Analysts now see a consensus price target of up to $16.2 a share for Vale stock, a good start on a potentially bullish thesis.
Vale would need to rally by as much as 38.5% from where it trades today to prove these valuations right, essentially bringing it back to its yearly high. More than that, short interest declined by 3.7% in the past month to show bearish capitulation in the face of this potential demand.
Management&nbsp;cited a few benefits in its&nbsp;latest quarterly earnings release. The freight costs in the China-Brazil trade route are now lower, opening the stock to better profit potential. Management is confident in the company&#39;s future earning potential during these trends and&nbsp;has kept its $1.16 a share dividend payout.
This translates into a 9.9% dividend yield on an annual basis, which beats inflation and adds up to nearly 50% upside potential in this stock. This may be one of the reasons that VanEck Associates decided to boost their Vale stock holdings by 110.9% as of July 2024, bringing their net investment to $60.9 million today.
<h2>BHP Stock: A Strong Play for Momentum, Income, and Upside Potential</h2>
Better price action has landed on BHP stock, which now trades at 93% of its 52-week high. The bulls have already started to get behind this name because Australia is closer to China than Brazil. BHP&#39;s copper, coal, and iron are the perfect mix to satisfy China&#39;s energy demands in the near term.
Wall Street analysts noticed that the tailwinds created by China&#39;s recovery are set for BHP. Citigroup and Argus placed a respective Outperform and Strong Buy rating on this stock, signaling better sentiment from the sell side.
New ratings on the stock weren&#39;t the only piece of evidence investors needed to justify a potential buy. The Bank of Montreal decided to boost its BHP stock position by 532.2% as of August 2024. After this massive boost, the bank&#39;s holdings are now valued at $134.4 million.
Aside from this upside potential and price momentum, management is leaning on these China tailwinds to keep a payout of $2.93 a share for investors, translated to a 4.7% annual dividend yield today.
<h2>Exxon Mobil: The Top Stock for Investors to Ride the Oil Cycle</h2>
Bulls also came to call Exxon Mobil stock their home, as it now trades within 5% of its 52-week high. The key to this bullish price action is that Exxon lists China as one of its largest export clients.
Now that both the United States and China have cut interest rates, oil demand coming from both nations (which Exxon serves) is set to spike in the coming quarters. Analysts at the UBS Group landed on a $149 a share valuation for Exxon Mobil stock, calling for up to 27.2% upside from where the stock trades today.
These analysts aren&#39;t the only ones expecting a new high in the stock, as bears started to retreat over the past quarter, as seen in the company&#39;s short interest. After these bears left, those at Legal &amp; General Group decided to take their place by boosting their holdings by 19.3%, ending at a total investment of $3.7 billion today.
As a last check, Wall Street analysts now forecast Exxon Mobil&#39;s earnings per share (EPS) of $2.42 in the next 12 months, up 13% from today&#39;s $2.14 net earnings, outpacing most large-cap names in the S&amp;P 500.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/top-3-stocks-set-to-benefit-from-chinas-interest-rate-cuts/">Top 3 Stocks Set to Benefit from China&#39;s Interest Rate Cuts</a>&quot; first appeared on MarketBeat.

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Top 3 Stocks Set to Benefit from China's Interest Rate Cuts

The <a href="https://www.benzinga.com/topic/2024-election">hotly contested 2024 election</a> between Vice President Kamala Harris and former President Donald Trump has Americans bracing for a down-to-the-wire finish. While Harris has <a href="https://www.benzinga.com/news/24/09/40969781/nate-silvers-forecast-kamala-harris-retakes-lead-over-donald-trump">a slight lead</a> in polling forecasts, the race remains an essential toss-up. 
As market participants consider investment ideas tied to the election, telling signs might be found in the aftermath of <a href="https://www.benzinga.com/topic/2016-presidential-election">the 2016 election</a>.
Election Debrief: Trump won the 2016 election in a surprising upset over Democrat Hillary Clinton. He ran on a platform of building a wall on the U.S.-Mexico border, repealing Obamacare, enacting deregulation and prioritizing fossil fuels.
Trump <a href="https://www.benzinga.com/news/20/11/18261020/joe-biden-wins-2020-presidential-election-as-donald-trump-pushes-lawsuits-recounts">lost the 2020 election</a> to Democrat Joe Biden.
2016 Winners: Large bank stocks benefitted the most from Trump&#8217;s 2016 triumph.
Shares of JPMorgan Chase &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) soared over 13% in the week following Trump&#8217;s surprising win, according to data from Yahoo Finance. Goldman Sachs Group Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>) traded up over 17% that week. Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) saw an 18% bump in share price. Wells Fargo &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>) also had a fantastic week as shares jumped over 16%.
Blackstone Inc&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) Stephen Schwarzman is among <a href="https://www.benzinga.com/markets/equities/24/05/39021029/donald-trump-to-get-endorsement-from-blackstone-ceo-steve-schwarzman-report">Trump&#8217;s biggest supporters</a> on Wall Street. Shares of the private equity giant traded up nearly 9% in the week following the 2016 election.
The market&#8217;s preference for financial stocks after Trump's win comes as no surprise, given his strong support for deregulating the financial sector.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/10/41209505/hurricane-milton-is-floridas-secon">Hurricane Milton Is Florida&#8217;s Second Storm In Two Weeks: How Disney, Theme Parks, Insurance Companies Could Be Impacted</a>
Trump&#8217;s 2016 victory was also favorable to the oil and coal industries due to his support for deregulating the energy sector and prioritizing American energy production. Shares of coal mining company Arch Resources Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARCH#NYSE">ARCH</a>) rocketed up over 21% in the week following the election. Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) saw modest gains.
2016 Losers: Indexes in foreign countries fell overnight on election day 2016, <a href="https://money.cnn.com/2016/11/08/investing/global-markets-stocks-trump-clinton-us-presidential-election/index.html">according</a> to CNN. The Mexican peso plunged 9%, while European indexes fell a few percentage points. The Russia-tracking iShares MSCI Russia ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ERUS#NYSE">ERUS</a>) ticked higher overnight.
Tech stocks closed the week in the red, perhaps due to regulatory concerns. Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), Microsoft Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Alphabet Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) all ticked down 2 to 3 percentage points.
Clean energy stocks faced challenges after the 2016 election. Electric vehicle manufacturer Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) ended the week down over 5%, following Trump&#8217;s victory. At the time, CEO Elon Musk had not <a href="https://www.benzinga.com/news/24/08/40145805/elon-musk-says-his-endorsement-of-trump-doesnt-mean-he-agrees-with-everything-ex-president-is-saying">yet endorsed Trump</a> for a future run, but the market reaction reflected broader concerns for clean energy under a pro-fossil-fuel administration. Canadian Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) saw an even steeper decline, shedding over 16% of its market value in the week after the election.
Why it Matters: If history were to repeat itself, a Trump win in 2024 would likely bode well for financial, oil and coal companies. On the flip side, tech companies under regulatory scrutiny and clean energy stocks could see declines in Trump&#8217;s hypothetical return to the White House.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41199702/trump-says-we-need-a-mandate-in-the-vote-and-were-going-to-get-it-as-2024-election-draws-near">Trump Says &#8216;We Need A Mandate In The Vote, And We&#8217;re Going To Get It&#8217; As 2024 Election Draws Near</a></li>
</ul>
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What A Trump Win Could Mean For Financial, Energy Stocks: Lessons From 2016

Chart Industries, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gtls#NYSE">GTLS</a>) recently secured a contract from Exxon Mobil Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>) to provide its IPSMR (Integrated Pre-Cooled Single Mixed Refrigerant) liquefaction technology and proprietary equipment. GTLS&#39; advanced liquefaction technology will be used for the Rovuma LNG (liquefied natural gas) project on the Afungi peninsula in Mozambique.
The Rovuma LNG Project is operated by Mozambique Rovuma Venture (&quot;MRV&quot;), a joint venture between ExxonMobil, Eni and China National Petroleum Corporation (&quot;CNPC&quot;). MRV owns a 70% interest in Area 4 concession of the Rovuma Basin while the remaining stake is held by ENH (10%), Galp (10%) and KOGAS (10%).
The Rovuma LNG project will be responsible for producing, liquefying and selling natural gas from reservoirs of the Area 4 block of the offshore Rovuma Basin. The project will carry a total LNG capacity of 18 million tons per annum (MTA), consisting of 12 modules with a 1.5 MTA capacity each.
Chart Industries&#39; IPSMR technology helps to enhance efficiency and performance in liquefaction systems. Its modular design facilitates customization, thereby improving adaptability to various site conditions and gas turbine power specifications. It will help the Rovuma LNG Project to optimize resource utilization, reduce operational costs and minimize greenhouse gas emissions.
<h2>Other Notable Deals</h2>
In May 2024, Chart Industries secured an order from Repsol to provide its advanced Howden hydrogen compression solutions for the expansion project of Repsol&#39;s Sines industrial complex in Portugal.
Also, in March 2024, the company secured an order from Element Resources for its California-based green hydrogen production facility, Lancaster Clean Energy Center. Per the deal, Chart Industries will supply hydrogen liquefaction systems, liquid hydrogen storage tanks, trailer loadout bays, transport, ISO containers and hydrogen compression for storage, distribution and heavy-duty fueling to the facility.
<h2>Price Performance of GTLS Stock</h2>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/6e/80560.jpg?v=479817180" />
Image Source: Zacks Investment Research
In the past three months, the Zacks Rank #5 (Strong Sell) company&#39;s shares have lost 11.1% against the industry&#39;s 10.4% growth. It has been witnessing lower orders in the Heat Transfer Systems unit, which declined 9.4% year over year in second-quarter 2024. Headwinds from supply-chain constraints and increasing raw materials costs also remain concerning. GTLS anticipates generating sales in the range of $4.45-$4.60 billion in 2024, lower than $4.7-$5.0 billion projected earlier.
The Zacks Consensus Estimate for earnings is pegged at $10.46 per share for 2024, indicating a decrease of 4% from the 60-day-ago figure.
<h2>Stocks to Consider</h2>
Some better-ranked companies from the same space are discussed below.
Graham Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ghm#NYSE">GHM</a>) currently sports a Zacks Rank #1 (Strong Buy).
GHM delivered a trailing four-quarter average earnings surprise of 133.3%. In the past 60 days, the Zacks Consensus Estimate for Graham&#39;s fiscal 2025 earnings has increased 17.3%.
Crane Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cr#NYSE">CR</a>) presently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR&#39;s 2024 earnings has increased 0.6%.
Parker-Hannifin Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ph#NYSE">PH</a>) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the consensus estimate for Parker-Hannifin&#39;s fiscal 2025 earnings has increased 1.4%.
<a href="https://www.zacks.com/stock/news/2346849/chart-industries-clinches-ipsmr-liquefaction-equipment-order?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2346849">To read this article on Zacks.com click here.</a>

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Chart Industries Clinches IPSMR & Liquefaction Equipment Order

Shares of U.S. energy giants surged this week, marking the strongest performance in two years, as fears of a wider conflict in the Middle East between Iran and Israel drove oil prices <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">to $75 per barrel. </a>
The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), which tracks 31 major U.S. energy companies, including giants like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), recorded a remarkable 6.4% gain this week.
Investors poured nearly $300 million into the XLE ETF this week, the highest inflow since late July, according to Tradingview data.
Exxon Mobil, the largest U.S. oil company, reached a record high of $125 per share on Friday. The stock posted its sixth consecutive day of gains, ending the week up over 7%, marking its best performance since October 2022.
Oil prices continued their rally, with West Texas Intermediate (WTI) crude recording its fourth straight day of gains, hitting levels last seen in late August. The geopolitical tensions between Israel and Iran have sparked concerns over global oil supply disruptions.
<h3 class="wp-block-heading">Rising Middle East Tensions, Biden Calls For Measured Israeli Response</h3>
Israel promised a strong retaliation after Iran launched more than 180 ballistic missiles on Tuesday. While Israel&#8217;s air defense systems successfully intercepted most of the missiles, the attack further intensified the already heightened regional instability.
On Friday, President Joe Biden addressed the escalating crisis during a rare appearance at the White House daily press briefing. He mentioned Israel&#8217;s right to defend itself but said the country had not yet decided how it would respond to Iran&#8217;s ballistic missile strike.
Biden said he advised Israel against further escalating the conflict, suggesting that Israel might consider alternatives to targeting oil fields in its retaliation.
In his first public appearance since the attack, Iran's Supreme Leader Ayatollah Ali Khamenei defended the strike as &#8220;legitimate punishment&#8221; for what he called Israeli crimes and urged greater resistance against Israel in the region, Reuters reported.
Iran's deputy commander of the Islamic Revolutionary Guard Corps also issued a stark warning, stating that Iran could target Israeli oil refineries and gas fields if Israel chooses to strike Iranian territory.
<h3 class="wp-block-heading">This Week&#8217;s Top 10 Performing US Energy Stocks</h3>
U.S. energy stocks posted sharp gains, with the top performers this week including:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Price Chg. % (5D)</td>
<td>Market Cap</td>
</tr>
<tr>
<td>Diamondback Energy, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NYSE">FANG</a>)</td>
<td>13.62%</td>
<td>$57.14B</td>
</tr>
<tr>
<td>APA Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APA#NYSE">APA</a>)</td>
<td>9.36%</td>
<td>$9.92B</td>
</tr>
<tr>
<td>The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>)</td>
<td>9.04%</td>
<td>$60.02B</td>
</tr>
<tr>
<td>Marathon Oil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</td>
<td>8.44%</td>
<td>$16.06B</td>
</tr>
<tr>
<td>Occidental Petroleum Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OXY#NYSE">OXY</a>)</td>
<td>8.35%</td>
<td>$51.71B</td>
</tr>
<tr>
<td>Halliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>)</td>
<td>8.25%</td>
<td>$27.38B</td>
</tr>
<tr>
<td>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>)</td>
<td>8.19%</td>
<td>$131.57B</td>
</tr>
<tr>
<td>EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>)</td>
<td>8.05%</td>
<td>$75.23B</td>
</tr>
<tr>
<td>Devon Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>)</td>
<td>7.94%</td>
<td>$26.33B</td>
</tr>
<tr>
<td>Kinder Morgan, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>)</td>
<td>7.82%</td>
<td>$52.15B</td>
</tr>
</tbody>
</table>
</figure>
Read Next:
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<li><a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41187740/blowout-september-jobs-report-spurs-reactions-6-economists-say-aggressive-fed-rat">&#8216;Blowout&#8217; September Jobs Report Spurs Reactions: 6 Economists Say Aggressive Fed Rate Cuts May Face Obstacles</a></li>
</ul>
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US Energy Stocks Notch Biggest Weekly Gains In 2 Years, Exxon Hits Record Highs As Crude Surges To $75 On Israel-Iran Jitters

The energy sector is experiencing a sharp rebound following a significant escalation in Middle Eastern tensions after Iran launched a missile attack on Israel on October 1. While the immediate physical damage was minimal, the geopolitical consequences have been substantial, as fears of further conflict and disruptions to global crude oil supplies have escalated. With Iran being an essential oil supplier through the Strait of Hormuz, any prolonged conflict in the region could have severe consequences for global energy markets.
<h2>Oil Surges in Response to Conflict in the Middle East</h2>
In response to these tensions, oil prices surged. WTI crude oil rose by 2.44%, closing at $69.83 per barrel, while Brent crude saw a 2.6% increase, settling at $73.56 per barrel. These price hikes reflect growing concerns that further conflict in the Middle East could disrupt oil supplies, mainly if retaliatory strikes target Iranian oil infrastructure.&nbsp;
The energy sector followed suit, with the Energy Select Sector SPDR Fund surging 4.08% for the week as it broke out of a recent downtrend and pushed above its critical moving averages. This newfound momentum has positioned energy stocks as attractive plays for investors looking to capitalize on the rising oil prices.
With oil prices and energy stocks gaining momentum, now may be an opportune time to gain exposure to the sector. Here are three energy stocks that have demonstrated strong relative strength amid this week&#39;s surge in oil prices.
<h2>Technical Breakout Positions Exxon Mobil as a Top Energy Stock</h2>
Exxon Mobil (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xom#NYSE">XOM</a>), the largest oil company in the U.S. and the largest holding in the XLE ETF, boasts a market capitalization of $479 billion. The stock rose an impressive 5.8% this week, breaking out of a prolonged consolidation phase. It is now just 1.8% away from its 52-week high.
As one of the biggest beneficiaries of rising oil prices, Exxon Mobil can see significant revenue growth if crude supply is disrupted, primarily through its extensive upstream business, which relies heavily on oil production.
Exxon Mobil&#39;s vast global footprint also hedges against regional supply risks, allowing the company to maintain production levels despite geopolitical instability. With a 3.13% dividend yield, Exxon Mobil provides income-oriented investors with a reliable payout while offering upside from rising oil prices. From a technical perspective, the recent breakout above consolidation levels signals a bullish trend, making it a compelling option for investors seeking exposure to the energy sector.
<h2>Hess Corporation Rallies 6%, Leveraging Geographic Diversification</h2>
Hess Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hes#NYSE">HES</a>), though smaller than ExxonMobil with a market capitalization of $43 billion, has been one of the best-performing energy stocks this week, surging over 6% since the escalation in Middle Eastern tensions.
The company operates in two segments: Exploration and Production and Midstream, focusing on crude oil, natural gas liquids (NGLs), and natural gas production.
Unlike some competitors, Hess is less exposed to the Middle East, with its critical operations in the U.S., Guyana, and the Gulf of Mexico. This geographic diversification helps insulate Hess from the immediate geopolitical risks in the region, allowing the company to benefit from rising oil prices without the same level of supply disruption risk.
<h2>XLE ETF Signals Bullish Trend, Providing Diversified Energy Exposure</h2>
The XLE ETF&nbsp;is a top choice for investors seeking broad exposure to the energy sector. The ETF, which tracks the performance of the Energy Select Sector Index, includes holdings in some of the largest U.S.-listed energy companies, such as ExxonMobil, Chevron, and ConocoPhillips. The XLE is up 8.2% year-to-date and broke through a critical resistance level at $90 earlier this week, signaling a bullish trend.
With a 3.55% dividend yield and a low expense ratio of 0.09%, XLE provides investors with an attractive income stream while offering diversification across the energy sector. The ETF&#39;s holdings cover various energy sub-industries, including oil, gas, and energy equipment and services. This makes it a more diversified way to gain exposure to the sector than individual stock picking.&nbsp;
Analysts currently have a Moderate Buy rating on the ETF, with a consensus price target suggesting a 16.29% upside. This makes XLE a compelling option for investors looking for broad energy exposure while minimizing the risks of investing in individual stocks.
The article &quot;<a href="https://www.marketbeat.com/stock-ideas/energy-sector-rebound-3-stocks-poised-for-strong-gains/">Energy Sector Rebound: 3 Stocks Poised for Strong Gains</a>&quot; first appeared on MarketBeat.

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Energy Sector Rebound: 3 Stocks Poised for Strong Gains

BMO Capital analyst Phillip Jungwirth maintains Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) with a Market Perform and raises the price target from $127 to $130.

BMO Capital Maintains Market Perform on Exxon Mobil, Raises Price Target to $130

Diamondback Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FANG#NASDAQ">FANG</a>) shares were climbing in early trading on Friday, during a <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41130604/whats-going-on-with-diamondback-energy-stock">rise in energy stocks with growing Middle East tensions</a>.
Following the Endeavor acquisition, Diamondback and ExxonMobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) are now the dominant players in the Midland Basin, according to BMO Capital Markets.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59493ca470ed7a0001097207/phillip-jungwirth">Analyst</a><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59493ca470ed7a0001097207/phillip-jungwirth"> Phillip Jungwirth</a> upgraded the rating for Diamondback Energy from Market Perform to Outperform, while raising the price target from $205 to $215.
The Diamondback Energy Thesis: Synergies from the Endeavor acquisition are likely to "meet or exceed expectations," Jungwirth said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The company's strong position in the Midland Basin makes it poised to be a "long-term winner with leading core inventory depth and best in class capital efficiency," he added.
"Diamondback appears to have made all the right moves, creating value via strategic M&amp;A, operational execution, and return of capital," the analyst wrote. With its performance continuing to improve, the company should be able to sustain its leadership position "in coming years," he further stated.
FANG Price Action: Shares of Diamondback Energy had risen by 1.62% to $191.36 at the time of publication on Friday.
Read More: • <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41141046/jim-cramer-this-consumer-defensive-stock-is-a-buy-archer-daniels-midland-is-a-value-trap">Jim Cramer: This Consumer Defensive Stock Is A Buy, Archer-Daniels-Midland Is A &#8216;Value Trap&#8217;</a>
Photo: Shutterstock

Long Ideas

Movers

Diamondback Energy Is 'Making All The Right Moves,' Says Bullish Analyst

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading higher today. The oil giant anticipates changes in oil prices to reduce third-quarter upstream earnings <a target="_blank" href="https://investor.exxonmobil.com/sec-filings/all-sec-filings/content/0000034088-24-000059/0000034088-24-000059.pdf" rel="noreferrer noopener">Q/Q</a> by $(1.0)&nbsp;billion to $(0.6) billion.
Conversely, changes in gas prices is expected to impact its upstream results by between&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$(0.2) billion and $0.2 billion</a>.&nbsp;
On the other hand, Exxon Mobil projects that variations in industry margins will impact energy products earnings by $(1.0) billion-$(0.6) billion and both specialty products earnings and chemical products earnings by $0.0 billion-$0.2 billion each.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/dashboard" rel="noreferrer noopener">Benzinga Pro</a>, analysts estimate Exxon Mobil to report third-quarter adjusted earnings per share of&nbsp;<a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">$1.97 and revenues of $96.136 billion.</a>
Notably, oil prices had been declining before jumping this week amid&nbsp;rising Middle East tensions. On Wednesday, oil prices rose, adding to gains driven by potential supply disruptions in the Middle East and fresh warnings out of the Organization of the <a target="_blank" href="https://www.benzinga.com/news/24/10/41143156/oil-prices-spike-energy-stocks-jump-after-irans-missile-attack-on-israel-what-investors-need-to-know" rel="noreferrer noopener">Petroleum Exporting Countries (OPEC) and its allies</a>.
Investors can gain exposure to XOM via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;Westwood Salient Enhanced Energy Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEEI#NASDAQ">WEEI</a>).
Price Action: XOM shares are up 0.75% at $123.50 premarket at the last check Friday.
Photo: Del Henderson Jr. via Shutterstock
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</ul>

Guidance

DRLL

WEEI

Exxon Mobil Braces For Q3 Earnings Hit As Oil Price Swings Bite Into Profits

ExxonMobil – on behalf of Mozambique Rovuma Venture (MRV), operator of the Area 4 concession in northern Mozambique's Rovuma Basin – announces its strategic decision to select Chart Industries' (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>) ("Chart") IPSMR&#xAE; liquefaction technology and proprietary equipment for the Rovuma LNG project at the Afungi peninsula.&nbsp; &nbsp;
The Rovuma LNG Project will produce, liquefy and market natural gas from reservoirs of the Area 4 block of the offshore Rovuma Basin and includes the construction of 12 modules of 1.5 MTA each, with a total LNG capacity of 18 million tonnes annually, as well as associated onshore facilities.&nbsp; The selection of Chart IPSMR&#xAE; for the 12 liquefaction modules is expected to help enable increased project competitiveness, improved reliability and lower GHG emissions.

ExxonMobil Selects Chart Industries' IPSMR Liquefaction Process Technology And Proprietary Equipment For The Rovuma LNG Project At The Afungi Peninsula

Political tensions and potential war in the Middle East have made the price of oil rip higher. This means there are opportunities to profit by investing or trading in the companies <a href="https://www.benzinga.com/government/24/10/41172781/oil-prices-rally-biden-confirms-us-discussions-with-israel-about-striking-iran-facilities">in the energy sector</a>.
As you can see on the chart, shares of Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) may be about to break out. This means they may be about to move above what has been a resistance level and trend higher. This is why we have made it our <a href="https://www.benzinga.com/topic/stock-of-the-day">Stock of the Day</a>.
Traders use the term ‘breakout' frequently. It refers to an important market dynamic that savvy traders can use to profit.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="630" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03155456/1-1-2-1024x630.png" alt="Tensions in the Middle East have created trading opportunities in the energy stocks. Shares on Exxon may be about to breakout." class="wp-image-579480" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03155456/1-1-2-1024x630.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03155456/1-1-2-300x185.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03155456/1-1-2-768x472.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/10/03155456/1-1-2.png 1185w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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The stock market moves when it is out of equilibrium.
If there isn't enough supply, or sell orders, to fill all of the demand, or buy orders, the market will trend higher. This happens because the traders and investors who want to buy will be forced to increase the price that they are willing to pay to draw the sellers into the market.
When a stock reaches a resistance level, the tide turns. Resistance is a large group or concentration of sellers. At resistance levels, buyers can obtain all the shares they need without pushing the price up. Because of this, rallies can end or stall out at resistance levels.
If a stock eventually trades and holds above what had been a resistance level, it is called a ‘breakout'.
This illustrates an important market principle. It could be an indication that the traders and investors who created the resistance with their sell orders are gone. They have either finished or canceled their orders.
It can result in the market being out of equilibrium once again. So, to get sellers interested, the people who wish to buy must be willing to bid or pay higher prices. It can force the market into a new uptrend.
The best traders let the market tell them what to do. If a breakout occurs, which may be about to happen with <a href="https://www.benzinga.com/quote/XOM">Exxon</a>, the market is saying an upward move in the price is going to take place.
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41172749/ge-and-howmet-poised-for-strong-earnings-as-aerospace-sector-stays-resilient-analys">GE and Howmet Poised for Strong Earnings as Aerospace Sector Stays Resilient: Analyst</a></li>
</ul>
Image: Shutterstock

Stock Of The Day: Is Exxon A Way To Profit From Higher Oil Prices?

Barclays analyst Betty Jiang maintains Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) with a Overweight and lowers the price target from $142 to $137.

Barclays Maintains Overweight on Exxon Mobil, Lowers Price Target to $137

Oil prices continue to rise on Wednesday, adding to gains driven by potential supply disruptions in the Middle East and fresh warnings out of the Organization of the Petroleum Exporting Countries and its allies, <a href="https://www.benzinga.com/topic/oil">known as OPEC+</a>.
What To Know: Prince Abdulaziz bin Salman, the oil minister of Saudi Arabia, has warned that prices could fall to $50 per barrel if global oil producers don&#8217;t comply with production curbs, according to a <a href="https://www.wsj.com/business/energy-oil/saudi-minister-warns-of-50-oil-as-opec-members-flout-production-curbs-216dc070?mod=hp_lead_pos4">report</a> from the Wall Street Journal. 
The report indicates the Saudi oil minister&#8217;s comments are being viewed as a threat that Saudi Arabia is willing to start a pricing war to help maintain its market share.
Oil prices had been in decline before jumping this week amid <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil" target="_blank" rel="noreferrer noopener">rising Middle East tensions</a>. Iran launched an attack on Israel Tuesday following the recent killing of Hezbollah leader Hassan Nasrallah, reportedly firing between 100 and 200 missiles toward Israel.
Brent Crude futures, the international benchmark, climbed as much as 5% on Tuesday before pulling back and finishing the day up about 2.4%. Brent Crude futures were up 2.75%, trading around $75.50 at the time of writing Wednesday, while front-month&nbsp;WTI Crude futures were up 3.06%, hovering around $72. 
Saudi Arabia reportedly needs prices to be at least $85 per barrel in order to help fund its planned economic transformation. 
The rising tensions in the Middle East are also likely to push up prices of U.S. gasoline. According to an ABC News <a href="https://abcnews.go.com/Business/rising-oil-prices-after-iran-strike-increase-us/story?id=114394795">report</a>, drivers could see prices at the pump rise between 10 cents and 15 cents per gallon.
The United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) was up 2.7% at $74.06 and the IShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>) was up 2.24% at $93.50 at last check. The SPDR Energy Select Sector Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was up 1.25% at $90.93 at the time of writing.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/10/41140501/exxon-mobil-chemed-las-vegas-sands-and-more-on-cnbcs-final-trades">Exxon Mobil, Chemed, Las Vegas Sands And More On CNBC&#8217;s &#8216;Final Trades&#8217;</a>
Here&#8217;s a look at some of the energy stocks making moves Wednesday morning:
<ul>
<li>Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) up 1.77% at $122.02.</li>
</ul>
<ul>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) up 1.44% at $151.82.</li>
</ul>
<ul>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) up 1.62% at $111.23.</li>
</ul>
<ul>
<li>Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) up 1.52% at $43.79.</li>
</ul>
<ul>
<li>Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) up 1.75% at $141.39.</li>
</ul>
<ul>
<li>BP P.L.C. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) up 1.54% at $32.59.</li>
</ul>
<ul>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) up 2.11% at $68.18.</li>
</ul>
Analysts React: OPEC is set to hold an online Joint Ministerial Monitoring Committee meeting on Wednesday that the market will be watching closely, Roth MKM analysts said in a note. OPEC members are expected to discuss whether to ease production curbs in December.
The Roth MKM analysts also highlighted oil inventory data that is positive for oil prices and noted that oil is likely to continue trading higher on Wednesday. 
Analysts at Truist Securities and Jefferies highlighted other opportunities given the elevated global threat environment. Jefferies highlighted opportunity in the tanker market as the Middle East conflict raises risk premiums on the energy market, and Truist analysts said they expect the intensifying conflict to ultimately translate into bookings and backlog growth for the U.S. defense industry overall.
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</ul>
Photo: Shutterstock.

Global

iShares Dow Jones US Oil & Gas Exploration & Production Index Fund

SHEL

Oil Prices Spike, Energy Stocks Jump After Iran's Missile Attack On Israel: What Investors Need To Know

On CNBC's &#8220;<a href="https://www.cnbc.com/video/2024/10/01/final-trades-exxon-chemed-las-vegas-sands-and-the-ieo.html">Halftime Report Final Trades</a>,&#8221; Joshua Brown of Ritholtz Wealth Management picked iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEO#NYSE">IEO</a>) saying oil stocks are his hedge against <a href="https://www.benzinga.com/news/global/24/10/41126038/iran-attacks-israel-with-missiles-middle-east-tensions-escalates-s-p-500-stocks-bitcoin-fall-as-oil">escalating conflict with Iran</a>.
Jim Lebenthal of Cerity Partners said Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is having a great year and is 3% away from its all-time high.
Exxon Mobil&#8217;s asset sale deal with Seplat Energy in Nigeria could be approved soon. On Tuesday, Nigeria's President, Bola Ahmed Tinubu, said, "As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the <a href="https://www.benzinga.com/markets/equities/24/10/41120426/exxonmobils-1-28b-nigerian-asset-sale-deal-nears-completion">Petroleum Industry Act, PIA."</a> 
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Kari Firestone of Aureus Asset Management named Chemed Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHE#NYSE">CHE</a>) as her final trade.
Chemed will release financial results for the third quarter ended Sept. 30 on Tuesday, Oct. 29, after the closing bell on the New York Stock Exchange.
Stephanie Link of Hightower picked Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>), a China play.
On Oct. 1, Wells Fargo analyst Daniel Politzer maintained Las Vegas Sands with an Overweight rating and raised the price target from $53 to $60.
Price Action:
<ul>
<li>iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF gained 2.2% during Tuesday's session.</li>
<li>Exxon Mobil shares gained 2.3% to settle at $119.93 on Tuesday.</li>
<li>Chemed shares fell 1.4% to close at $592.79 during Tuesday's session.</li>
<li>Las Vegas Sands shares gained 3% to close at $51.83 on Tuesday.</li>
</ul>
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<li><a href="https://www.benzinga.com/markets/24/09/41102060/jim-cramer-hand-picks-these-3-stocks-to-ride-the-crest-of-the-chinese-stimulus-frenzy">Jim Cramer Hand Picks These 3 Stocks To Ride The Crest Of The Chinese Stimulus Frenzy</a></li>
</ul>
Image: Shutterstock

Media

Exxon Mobil, Chemed, Las Vegas Sands And More On CNBC's 'Final Trades'

WIIM

Shares of energy stocks are trading higher amid a rise in oil prices after Iran on Tuesday launched a missile attack on Israel.

Hess Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) and Chevron Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)&nbsp;shares are trading higher on Tuesday.
On Monday, the Federal Trade Commission (FTC) completed an antitrust review of the merger&nbsp;of both companies, satisfying a critical <a target="_blank" href="https://www.benzinga.com/government/24/09/41098199/ftc-clears-chevrons-53b-hess-merger-sets-restriction-for-john-hess" rel="noreferrer noopener">closing&nbsp;condition for the transaction</a>.
To facilitate the merger&#8217;s completion, Hess and Chevron have agreed that Hess CEO John Hess will not be on the Chevron board.
Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and its partner&nbsp;CNOOC Ltd had earlier asserted their right of first refusal to any sale of&nbsp;Hess&#8217;&nbsp;stake in a Guyana oil-producing joint venture. The arbitration panel is expected to hear these claims in May 2025.
Piper Sandler analyst Ryan M. Todd raised the valuation of Guyana (net to HES) from $40.6 billion to $45.6 billion, translating to $132 to $149 per share, due to notable increases in discovered resources and productivity in Guyana.
The analyst estimates Hess&#8217; stand-alone value at around $170 per share with Brent priced at $75 per barrel, suggesting that Hess is a compelling value opportunity for the first time in years.
Notably, given strong reservoir productivity and successful debottlenecking (12%-20% improvement), Todd expects each FPSO&#8217;s peak productive capacity to increase from approximately 2.0 Mboe/d to around 2.5 Mboe/d.
The analyst adds that while second-quarter production was 192 kbd (net to HES) in Guyana, they expect net production to peak at around 775 kbd, reflecting a 17% annual CAGR for nearly a decade, with peak CFO and FCF projected at $10.3 billion and $8.7 billion, respectively, vs. a $2.2 billion breakeven in 2023.
On the other hand, Wolfe Research analyst Doug Leggate&nbsp;upgraded Hess from Peer Perform to <a target="_blank" href="https://www.benzinga.com/quote/hes/analyst-ratings" rel="noreferrer noopener">Outperform with a price target of $150</a>.
The bullish outlook reflects the analyst&#8217;s view that current market conditions and the potential merger outcomes give Hess shares an attractive risk/reward profile, indicating that the valuation remains compelling regardless of whether the deal with Chevron proceeds.
Leggate&nbsp;cited three scenarios for Hess that support a positive outlook. The first scenario envisions the successful merger with Chevron, closing the current 11% arbitrage gap between the valuations of Hess and Chevron.
If the merger fails, the analyst expects Hess to trade based on its fundamentals, with a fair value starting point projected at about $150 per share.
The third scenario examines a failed merger, indicating that Hess has shown a willingness to be acquired, with Chevron likely remaining the sole interested party, says the analyst.
Price Action: HES shares are up 1.9% at $138.38, while CVX shares rose 1.28% at $149.17 at the last check Tuesday.
Image via Shutterstock
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</ul>

Analyst Color

Upgrades

Analyst Questions 'What Could Hess Be Worth?' As Chevron Advances In Acquisition Efforts

CNBC Halftime Report Final Trades: Exxon Mobil, Chemed, Las Vegas Sands, iShares U.S. Oil & Gas Exploration & Production ETF

Shares of energy stocks are trading higher amid a rise in oil prices after Iran launched a missile attack on Israel.

Exxon Mobil Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) asset sale deal with Seplat Energy&nbsp;in Nigeria could be approved&nbsp;in a few days.
On Tuesday, Nigeria&#8217;s President, Bola Ahmed Tinubu, said, &#8220;As such, the ExxonMobil Seplat divestment will receive ministerial approval in a matter of days, having been concluded by the regulator, NUPRC, in line with the Petroleum Industry Act, PIA.&#8221;&nbsp;
The <a target="_blank" href="https://von.gov.ng/nigerias-foreign-reserves-reach-37b-amid-major-economic-reforms/" rel="noreferrer noopener">President </a>reaffirmed his administration&#8217;s commitment to free enterprise, allowing free entry and exit in investments while upholding the integrity and effectiveness of regulatory processes.
President Tinubu emphasized that this principle guides divestment transactions in the nation&#8217;s upstream petroleum sector, with the government dedicated to positively transforming the country&#8217;s fortunes.
Notably, the $1.28 billion deal was first announced in 2022, and the companies have been&nbsp;waiting <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38612283/seplats-1-28b-asset-deal-with-exxon-gets-regulatory-boost-report" rel="noreferrer noopener">for&nbsp;regulatory approval&nbsp;since then</a>.
The state oil company NNPC had earlier contested Exxon&#8217;s sale of the assets to Seplat, citing a purported first right of refusal <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39334659/exxon-mobils-nigerian-asset-sale-to-seplat-nears-completion-as-court-case-clears" rel="noreferrer noopener">and regulatory issues further delayed the deal</a>.
In June 2024, Seplat Energy expressed that it had been informed about the termination of the court proceedings initiated by NNPCL against MPNU and its affiliates regarding the planned divestment of MPNU&#8217;s shares to Seplat Energy Offshore Limited (SEOL).
Last month, Exxon Mobil proposed a $10 billion investment in Nigeria&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41051382/exxonmobil-proposes-10b-investment-in-nigeria" rel="noreferrer noopener">deep-water&nbsp;oil&nbsp;operations</a>.
Moreover, ExxonMobil intended to invest $1 billion annually in maintenance operations and an additional $1.5 billion to increase production by 50,000 barrels per day over the next few years.
Investors can gain exposure to XOM via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;Westwood Salient Enhanced Energy Income ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEEI#NASDAQ">WEEI</a>).
Price Action: XOM shares are up 2.15% at $119.72 at the last check Tuesday.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/09/41098199/ftc-clears-chevrons-53b-hess-merger-sets-restriction-for-john-hess" target="_blank" rel="noreferrer noopener">FTC Clears Chevron&#8217;s $53B Hess Merger, Sets Restriction For John Hess</a></li>
</ul>

Asset Sales

Legal

ExxonMobil's $1.28B Nigerian Asset Sale Deal Nears Completion

On Monday, Chevron&nbsp;Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) announced that the Federal Trade Commission (FTC) completed an antitrust review of its merger with Hess Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>), satisfying a critical closing <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41096590/chevron-hess-merger-clears-ftc-antitrust-review" rel="noreferrer noopener">condition for the transaction</a>.
To facilitate the merger&#8217;s completion, Hess and Chevron have agreed that Hess CEO John Hess will not be on the Chevron board.
Instead, Mr. Hess will serve as an advisor to Chevron on government relations and social investments in Guyana and on support for the Salk Institute&#8217;s Harnessing Plants Initiative.
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30114603/newplot-24.png" alt="" class="wp-image-572776" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30114603/newplot-24.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/30114603/newplot-24-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
&#8220;I have the utmost respect for John, the company he has built, and the contributions he has made to our industry. It is unfortunate that our Board of Directors will not get the benefit of his decades of global experience, but we look forward to drawing upon his knowledge, relationships and experience in Guyana through his service as an advisor to Chevron,&#8221; said Chevron Chairman and CEO Mr. Wirth.
&#8220;Oil and gas are going to be needed for decades to come, and the key challenge is long-term investment,&#8221; <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41096717/hess-announces-hsr-clearance-of-chevron-hess-merger" rel="noreferrer noopener">Mr. Hess said</a>. &#8220;For more than ten years, I have advocated for a significant increase in global investment, both in oil and gas and renewable energy, to have the necessary supply to keep energy affordable and secure for American consumers in the future.&#8221;
The merger&#8217;s completion remains subject to other closing conditions, including the satisfactory resolution of ongoing arbitration proceedings regarding preemptive rights in the Stabroek Block joint operating agreement. Chevron said it remains confident that the arbitration process will affirm the company&#8217;s position.
<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40091118/chevrons-53b-hess-deal-faces-uncertainty-amid-exxon-and-cnooc-arbitration-claims" rel="noreferrer noopener">Prior reports indicated</a> Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and its partner&nbsp;CNOOC Ltd asserted their right of first refusal to any sale of&nbsp;Hess&#8217; stake in a Guyana oil-producing joint venture potentially hinder&nbsp;Chevron&#8217;s proposed $53 billion deal of Hess. The arbitration panel is now expected to hear these claims in May 2025.
Under the deal, Chevron will reportedly own a 30% stake in the consortium controlling all of Guyana&#8217;s oil production. Exxon leads the consortium with a 45% stake.
Earlier, Chevron CEO&nbsp;Michael Wirth had attacked President&nbsp;Joe Biden&#8217;s <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41063239/john-hess-blocked-from-joining-chevron-board-as-part-of-ftc-deal-for-antitrust-approval-of-53b-c" rel="noreferrer noopener">administration&#8217;s halt on</a> liquefied natural gas export, citing higher costs and threatening&nbsp;supplies for America&#8217;s European backers.
Price Actions: CVX stock is up 0.25% at $145.87 at the last check Monday. HES stock is up 0.72% at $134.58.
Image via Shutterstock

Government

Regulations

FTC Clears Chevron's $53B Hess Merger, Sets Restriction For John Hess

Whales with a lot of money to spend have taken a noticeably bullish stance on Exxon Mobil.
Looking at options history for Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $145,132 and 9, calls, for a total amount of $542,086.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $110.0 and $120.0 for Exxon Mobil, spanning the last three months.
<h3>Insights into Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Exxon Mobil's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Exxon Mobil's substantial trades, within a strike price spectrum from $110.0 to $120.0 over the preceding 30 days.
<h3>Exxon Mobil 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727710246_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.65</td>
<td>$4.45</td>
<td>$4.45</td>
<td>$115.00</td>
<td>$133.5K</td>
<td>5.1K</td>
<td style="text-align: right;">710</td>
</tr>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$4.45</td>
<td>$4.35</td>
<td>$4.45</td>
<td>$115.00</td>
<td>$88.5K</td>
<td>5.1K</td>
<td style="text-align: right;">210</td>
</tr>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$4.85</td>
<td>$4.4</td>
<td>$4.4</td>
<td>$115.00</td>
<td>$88.0K</td>
<td>5.1K</td>
<td style="text-align: right;">410</td>
</tr>
<tr>
<td>XOM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/25/24</td>
<td>$1.49</td>
<td>$1.37</td>
<td>$1.4</td>
<td>$120.00</td>
<td>$70.0K</td>
<td>748</td>
<td style="text-align: right;">530</td>
</tr>
<tr>
<td>XOM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$2.64</td>
<td>$2.56</td>
<td>$2.59</td>
<td>$110.00</td>
<td>$41.4K</td>
<td>4.3K</td>
<td style="text-align: right;">186</td>
</tr>
</tbody>
</table>

<h3>About Exxon Mobil</h3>
ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At the end of 2023, reserves were 16.9 billion barrels of oil equivalent, 66% of which were liquids. The company is one of the world's largest refiners with a total global refining capacity of 4.5 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.
Having examined the options trading patterns of Exxon Mobil, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Current Position of Exxon Mobil</h3>
<ul>
<li>With a trading volume of 3,110,001, the price of XOM is up by 0.66%, reaching $116.58.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 25 days from now.</li>
</ul>
<h3>What The Experts Say On Exxon Mobil</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $135.4.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Overweight rating on Exxon Mobil, which currently sits at a price target of $136. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on Exxon Mobil, which currently sits at a price target of $142. 
&#x2A; An analyst from UBS persists with their Buy rating on Exxon Mobil, maintaining a target price of $149. 
&#x2A; An analyst from Redburn Atlantic has revised its rating downward to Neutral, adjusting the price target to $120. 
&#x2A; Maintaining their stance, an analyst from Mizuho continues to hold a Neutral rating for Exxon Mobil, targeting a price of $130. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Exxon Mobil options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

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