ExxonMobil chce do roku 2028 převést polovinu flotily v Permské pánvi na automatizované vrtné soupravy, aby zvýšil efektivitu a produkci. První automatizovaná souprava už vrtala dvě míle horizontálně za něco málo přes šest dní.
In rural west Texas where oil rigs and pump jacks dot the sparse flat landscape, an ExxonMobil (XOM.N) contractor sits in a small office on a drilling rig, using controls on a screen to operate robotic machinery and move tall steel pipes weighing roughly 2,000 pounds.
This work would usually require human overseers standing on the rig floor, the most common location for accidents on a rig.
Exxon, the largest oil producer by volume in the U.S., operates more than 30 drilling rigs in the Permian Basin, two of which are automated rigs with robotic equipment. By 2028, the company aims to transition half of its fleet to automated rigs to reduce the need for workers to perform potentially dangerous work and increase efficiency to drill wells faster, an executive told Reuters.
The Permian Basin in Texas and New Mexico, the biggest U.S. oilfield, revolutionized energy markets two decades ago when development of the shale basin turned the U.S. into one of the leading oil-producing countries. But the relatively quick decline rate of shale wells has prompted drillers to develop more technologies to extract the oil. Some in the industry are also concerned about when the Permian's production could begin to decline.
Exxon plans to grow its Permian production by almost 40% to 2.5 million barrels of oil equivalent per day by 2030. By contrast, rival oil major Chevron plans to hold production steady at about 1 million boepd, focusing instead on free cash flow.
The automated drilling rigs are part of a combination of technologies and strategies Exxon is using to boost production, said Bart Cahir, Exxon's senior vice president of unconventionals, in an interview on the rig.
"When we take people off the rig floor, those same individuals are now able to think ahead and plan for the next operation and that combination gives us efficiency," he said. "This is the productivity play."
The company installed its first automated rig, supplied by drilling contractor Helmerich & Payne (HP.N), last year. It drilled two miles horizontally underground in a little over six days, the third fastest time in Exxon's history.
Exxon's use of automated rigs in the Permian and its goal of expanding the fleet has not been previously reported.
REDUCING RISK AND DRILLING MORE
On one of Exxon's automated rigs in Midland, a gate surrounds the drilling floor with a sign reading "Red Zone: Restricted Area." A drawing of the Grim Reaper illustrates the risk that workers face around heavy equipment and pressurized systems.
Where workers would usually help move columns of drill pipe over two stories tall, robotic arms now position the pipes and connect them to a drill string. This allows drilling to continue deeper into the wellbore.
Employees on the rig communicate with Exxon's central operations team in Houston to determine the precise movements the robotic system should make.
Removing workers from the so-called Red Zones allows them to focus on other operations on the rig and reduces variability in the work, meaning more feet per day can be drilled, Cahir said.
"In the history of well drilling activity, about a third of significant injuries that occur happen on the rig floor," he said. "By getting people out of that higher risk area, we're essentially eliminating that risk."
Exxon plans to expand automated rigs to a quarter of the fleet next year and then half of the fleet by 2028, Cahir said.
Exxon is also developing a suite of more than 40 technologies to double its oil recovery from the Permian by the early 2030s. The shale industry typically extracts just 10% of the oil in the ground due to the tight, compacted rock.
Dividends are great, but what's even better for long-term investors is knowing that they're holding shares of a company that's a true dividend stock, not just a stock that pays a dividend.
Companies become true dividend names by showing unwavering commitment to steadily increasing their payouts. One of the world's largest oil companies, ExxonMobil (XOM -0.63%), is certainly in that camp. ExxonMobil is on a 43-year run of increasing its payout. Those are increases shareholders can set their clocks by, and for those wondering, pencil in the energy stock's next dividend lift. It's likely to arrive in October, as it has over the past several years.
Image source: Getty Images.
Each of the company's 2023 through 2025 increases was $0.04 per share quarterly. That's not much, but those boosts add up over time. That consistency may have some on Wall Street banking on another increase of $0.03 to $0.04 a share, but ExxonMobil can deliver an "October surprise" -- and a positive one at that.
ExxonMobil can enhance dividend excellence In addition to the 43-year payout increase streak, ExxonMobil is the second-largest dividend payer in the S&P 500. Fortunately, a yield of 2.5% and a payout ratio of 52.5% imply two pivotal factors. First, the energy company isn't burdened by its dividend obligations. Second, there's room for payout growth.
How much growth? That's the $64,000 question, but there are credible reasons ExxonMobil could deliver a larger-than-expected dividend increase later this year. As the company noted last December, it was on pace to buy back $20 billion of its shares in 2025 and expected to maintain a similar cadence this year. Retire $40 billion worth of stock over two years, and any company's dividend tab will decline, making it easier to juice payouts to the upside.
ExxonMobil's status as an oil dividend stock royalty is further supported by cold, hard cash. Under its 2030 plan, the oil behemoth raised its 2024 to 2030 earnings and cash flow growth targets to $25 billion and $35 billion, respectively.
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Perhaps shortening the odds of a dividend surprise is ExxonMobil's expectation of $145 billion in "surplus cash flow" through 2030. That's based on $65-per-barrel Brent crude prices. Brent closed at nearly $89 on Aug. 20. If that oil contract remains elevated into the fourth quarter, it's possible (not promised) that ExxonMobil could put a little something extra in dividend investors' Halloween goody bags (the dividend increase is often announced around that holiday).
Competitive considerations Corporations are always competing with each other, but the competition isn't limited to business and generating sales. It extends to captivating investors' attention and their dollars. This is particularly true with dividend investors, and ExxonMobil likely knows as much.
These days, there's plenty of competition. Bond yields are high, and a slew of energy companies sport dividend yields well beyond ExxonMobil's 2.5%. Some of those companies boost payouts several times a year.
So while ExxonMobil's yield is more than double that of the S&P 500, that's not saying much, and the energy company may not want to rest on those "laurels." Amid stiff competition for dividend investors' capital, it might be prudent for ExxonMobil to go the extra mile with its next payout increase.
ExxonMobil varuje, že produkce v Tengizu příští rok dosáhne vrcholu a do roku 2035 klesne téměř o 40 % na zhruba 500 000 barelů denně. Firma ale dál počítá s růstem jinde, hlavně v Guyaně, LNG a Permské pánvi.
ExxonMobil (XOM -0.63%) recently warned Kazakhstan that the Central Asian nation's largest oil field, Tengiz, will hit its production peak next year. Worse yet, output from the field will begin to decline. Exxon estimates it will fall nearly 40% by 2035 to around 500,000 barrels per day (bpd). That also has implications for Chevron, as it helped develop the field through its 50% interest in the Tengizchevroil (TCO) partnership.
However, while Tengiz is about to plateau and decline, that's not a crisis for ExxonMobil. Here's why.
Image source: The Motley Fool.
There's more in the tank in Kazakhstan Even though output at Tengiz is about to peak and start declining, Exxon has another opportunity in Kazakhstan: Kashagan. The giant offshore field in the Caspian Sea is operated by a partnership that includes Exxon, Shell, TotalEnergies, and others. Exxon sees the potential for an $80 billion joint investment to develop the western part of the field. This expansion could produce up to 600,000 bpd.
However, the field is part of a long-running dispute between Kazakhstan and the operating consortium. Kazakhstan levied a $5 billion environmental fine that the field's operator hasn't paid. Additionally, the government says the partners owe it $150 billion for lost revenue due to development delays, a claim currently before international arbitration. Exxon and its partners won't invest the capital needed to boost production in this field until they resolve the dispute with the government.
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Exxon has plenty more growth elsewhere Kashagan is far from Exxon's only potential growth driver. The oil giant is currently investing $100 billion through 2030 on major capital projects. These investments will grow its oil and gas production from 4.7 million bpd last year to 5.5 million bpd by 2035. Major growth drivers include Guyana, LNG, and the Permian Basin.
The company expects to double its production in the Permian Basin alone by 2030 to about 2.5 million bpd. It recently signed new 20-year, fee-based integrated midstream agreements with Targa Resources (TRGP -1.04%) to support its growth in the Permian in the coming years. Targa will build three new natural gas processing plants to support Exxon's development in the region and is evaluating five additional plants. It's also building a new 70-mile gas pipeline to support Exxon's growth. Targa plans to start operations on this new infrastructure by the first half of 2028.
Meanwhile, Exxon recently awarded $1.1 billion in pre-investment contracts for equipment for the Rovuma LNG project in Mozambique. The company is on track to make a Final Investment Decision on the potential $30 billion project by the end of this year. Exxon could also approve an LNG project in Papua New Guinea by the end of this year. These projects will help drive growth beyond 2030.
Exxon's growth engine isn't running low on fuel While production at one of Exxon's major oil fields is about to peak and start declining, that's not a crisis for the oil giant. It has another potential major project in Kazakhstan in the pipeline. On top of that, it has visible growth in the Permian, two more LNG projects in the works, and many other opportunities worldwide. While there are risks associated with both Kashagan and Rovuma (the latter has been delayed by regional violence since 2021), Exxon's diversified growth pipeline helps mitigate these risks. Exxon's multiple long-term growth drivers make it one of the top oil stocks to buy.
ExxonMobil čeká do konce dekády růst produkce v Permianu na 2,5 mil. barelů ropného ekvivalentu denně a celkové produkce na 5,5 mil. barelů ropného ekvivalentu denně. Firma zároveň cílí na růst zisku o 25 mld. USD a cash flow o 35 mld. USD mezi lety 2024 a 2030.
Key Takeaways XOM expects Permian production to reach 2.5 Moebd and total production to hit 5.5 Moebd by decade-end.ExxonMobil's fifth Guyana FPSO is on track for startup by year-end, supporting upstream production growth.XOM targets $25B in earnings growth and $35B in cash-flow growth between 2024 and 2030. ExxonMobil Holdings Corporation (XOM - Free Report) remains well-positioned for continued growth in earnings and cash flows, supported by its advantaged assets and focus on cost efficiency. The company’s earnings are primarily driven by its Upstream segment, aided by advantaged volume growth in Guyana and the Permian Basin. XOM expects its Permian production to reach 2.5 million oil equivalent barrels per day (Moebd) by the end of this decade, while total production is anticipated to reach 5.5 Moebd.
The company continues to invest in production growth from these advantaged upstream assets. In Guyana, ExxonMobil’s fifth FPSO is on track for startup by year-end, while the Longtail development is on the path to reach a final investment decision. New technology deployment and extended-reach development in the Permian Basin are anticipated to enhance well recovery and drive capital efficiency.
XOM’s structural cost savings have reached $16.3 billion since 2019. With the oil price environment remaining favorable for oil and gas producers, XOM is expected to benefit from its focus on production growth. The company intends to deliver approximately $25 billion of earnings growth and $35 billion of cash-flow growth between 2024 and 2030, supported by its advantaged assets, high-value product growth and further cost reductions.
Other Industry Majors With a Low-Cost Production ProfileConocoPhillips (COP - Free Report) and EOG Resources, Inc. (EOG - Free Report) are two other energy firms that own low-cost resource bases in the shale basins of the United States, supporting their profitability.
ConocoPhillips is involved in the exploration and production of crude oil, natural gas liquids (NGLs), bitumen and natural gas. The company boasts a strong asset base in the shale basins of the United States, including the Delaware Basin, Midland Basin, Eagle Ford and Bakken shale. These assets support low-cost production, which enables ConocoPhillips to maintain its profitability and generate free cash flow even during periods of low oil prices.
EOG Resources is a leading independent exploration and production company with operations focused on the prolific acres in the United States as well as several resource-rich international basins. EOG boasts a high-return, low-decline asset base and stands out among the low-cost producers in the United States. The company’s focus on maintaining a resilient balance sheet and lowering production costs should enable it to weather oil price volatility.
XOM’s Price Performance, Valuation & Estimates
Shares of XOM have gained 56.8% over the past year compared with the industry’s growth of 50.4%.
Image Source: Zacks Investment Research
From a valuation standpoint, XOM trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 9.27X. This is above the broader industry average of 5.82X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for XOM’s 2026 earnings hasn’t seen any revisions over the past seven days.
Image Source: Zacks Investment Research
XOM, COP and EOG each currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways ExxonMobil's upstream business could benefit as WTI crude trades above $80 per barrel.XOM uses new drilling techniques and AI in the Permian to boost production at lower costs.ExxonMobil's Guyana discoveries and robust output support its production and earnings outlook. West Texas Intermediate (“WTI”) crude is trading at more than the $80-per-barrel mark. The high prices are being driven by ongoing tensions in the Middle East. The U.S. Energy Information Administration (“EIA”) in its latest short-term energy outlook projected WTI at $80.88 per barrel for this year, higher than $65.40 last year. A highly favorable pricing environment for the commodity is likely to continue supporting ExxonMobil Holdings Corporation’s (XOM - Free Report) exploration and production activities, which derive the majority of its earnings.
The company has a massive footprint in the Permian, the most prolific oil and gas play in the United States, and offshore Guyana. In the Permian, the integrated giant has been employing new drilling techniques and artificial intelligence to boost and optimize production volumes at lower cost structures.
In Guyana, XOM has made several oil and gas discoveries, further highlighting its solid production outlook. Robust production from both assets has been aiding its top and bottom lines. In both resources, the breakeven costs are low.
Will CVX & COP Also Gain From High Oil?
Like XOM, Chevron Corporation (CVX - Free Report) and ConocoPhillips (COP - Free Report) will benefit from the ongoing strength in oil prices. Let’s delve a little deeper.
With COP generating a significant proportion of revenues from crude oil, the high price of the commodity is extremely favorable for the leading oil and gas exploration and production company, much like other energy giants such as XOM and CVX.
The upstream energy giant also has low-cost drilling opportunities across the Permian, Eagle Ford and Bakken that could be successfully developed over two decades. Thus, the outlook for ConocoPhillips’ upstream operations looks bright.
Chevron, on the other hand, has been witnessing a growth in production volumes, thanks to its footprint in the Permian – the most prolific basin in the United States. CVX is thus well-poised to gain from prevailing high oil prices.
XOM’s Price Performance, Valuation & Estimates
Shares of XOM have gained 50.8% over the past year compared with the industry’s growth of 43.8%.
Image Source: Zacks Investment Research
From a valuation standpoint, XOM trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 9.19X. This is above the broader industry average of 5.76X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for XOM’s 2026 earnings hasn’t seen any revisions over the past seven days.
Image Source: Zacks Investment Research
ExxonMobil currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ExxonMobil sice ve 2. čtvrtletí mírně minula odhad EPS, ale vykázala nejvyšší čtvrtletní zisk za zhruba čtyři roky, 14,5 miliardy USD, a rekordní volný peněžní tok 17,2 miliardy USD.
ExxonMobil (XOM +1.13%) technically missed Wall Street's expectations for the second quarter. Adjusted earnings came in at $3.52 per share, just below the consensus estimate of $3.60. That was enough to trigger a negative reaction. But focusing only on the earnings miss overlooks what was arguably one of ExxonMobil's strongest operating quarters in years.
The company reported $14.5 billion in earnings and $14.7 billion in adjusted earnings, its highest quarterly earnings in roughly four years. ExxonMobil also generated $23.6 billion in cash flow from operations and $17.2 billion in free cash flow, giving it plenty of room to continue investing in growth while returning cash to shareholders.
Operations continue to improve Perhaps the most encouraging numbers weren't on the income statement at all. Exxon delivered its highest upstream production in more than two decades, excluding temporary Middle East disruptions. Production in the Permian Basin reached a record 1.8 million barrels of oil equivalent per day, while the company's fifth floating production vessel for Guyana is scheduled to begin operations in the fourth quarter, adding another 250,000 barrels per day of production capacity.
The downstream business also performed well. Exxon reported record diesel production, helping offset refinery maintenance earlier in the year. Chemical products earned $1.13 billion, while the Energy Products segment rebounded sharply to $5.47 billion after posting a loss during the previous quarter.
Image source: The Motley Fool.
All about the cash One reason Exxon continues separating itself from many competitors is its ability to generate cash across a wide range of commodity prices. During the quarter, the company returned $9.4 billion to shareholders through $4.3 billion in dividends and $5.1 billion in share repurchases. It also reduced net debt by approximately $7 billion, further strengthening an already healthy balance sheet.
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Meanwhile, management continues investing heavily in future production. Year-to-date capital expenditures reached $13 billion, supporting growth in the Permian Basin, Guyana, LNG projects, and higher-value chemical businesses. Exxon also says its cumulative structural cost savings have now reached $16.3 billion, exceeding the combined savings reported by its international oil major peers.
Looking beyond one quarter The earnings miss largely reflected factors that were difficult for analysts to model, including volatile commodity prices, refinery maintenance, and temporary production disruptions in the Middle East. CFO Neil Hansen said the company's underlying business remained strong despite those short-term headwinds.
Quarterly earnings estimates can fluctuate by a few cents for any number of reasons. But production growth, free cash flow, balance-sheet strength, and capital allocation are much better indicators of long-term performance. And Exxon appears to be executing well on all four.
The company continues to expand production from some of the world's lowest-cost oil assets, generate significant cash flow, reduce debt, and return billions of dollars to shareholders. Those are the numbers that ultimately determine long-term value. Yes, the earnings miss may have spooked some investors, but the company's underlying operating performance remains solid.
ExxonMobil ve 2. čtvrtletí vyplatil akcionářům 9,4 miliardy USD a volný peněžní tok 17,2 miliardy USD tuto částku téměř dvojnásobně kryl. Za pololetí ale krytí zůstalo těsné: 19,9 miliardy USD proti 18,6 miliardy USD.
ExxonMobil (XOM -1.16%) handed its shareholders $9.4 billion during the second quarter -- $4.3 billion of dividends and $5.1 billion of share repurchases. For an income-focused investor, the more important number is what the oil giant produced to pay for it all.
The second quarter produced plenty. Exxon earned $14.5 billion -- $3.48 per share, or $3.52 on an adjusted basis -- and cash flow from operations came to $23.6 billion. And free cash flow (what's left after capital spending) was $17.2 billion, covering the quarter's distributions nearly twice over.
Zoom out to the full first half, though, and the coverage looks much tighter. The difference matters for anyone counting on the pace to continue.
Image source: Getty Images.
A payout covered nearly twice over Second-quarter earnings of $14.5 billion nearly matched the $14.8 billion Exxon earned in all of last year's first half. The company said Permian output topped 1.8 million oil-equivalent barrels per day during the quarter, a record, and first-half earnings of $18.7 billion were up about 26% year over year.
The distributions that cash supported are enormous in absolute terms. The $4.3 billion quarterly dividend outlay reflects a payout of $1.03 per share, and the company has already declared the same $1.03 for the third quarter, payable Sept. 10. At Friday's closing price of about $153, the annualized $4.12 payout gives the dividend stock a 2.7% yield.
The buybacks are the bigger line item. Exxon bought back $5.1 billion of its shares in the second quarter, following $4.9 billion in the first. That keeps it on pace, as management put it in its first-quarter release, "with plans to repurchase $20 billion of shares in 2026, assuming reasonable market conditions."
Add roughly $17 billion of annualized dividends to a $20 billion buyback program, and Exxon's shareholder-return commitment runs near $37 billion a year.
The half-year math Covering that pace takes more than one good quarter, and the first half shows why. Exxon generated $19.9 billion of free cash flow over the six months while distributing $18.6 billion. The payout was covered, but with only about $1.3 billion to spare.
The reason is the first quarter. Exxon reported net income of $4.2 billion for the period ($8.8 billion excluding identified items and timing effects), and free cash flow of just $2.7 billion -- less than a third of the $9.2 billion it distributed in those three months.
The company leaned on its balance sheet to hold the pace, which is exactly what the balance sheet is for. Its debt-to-capital ratio stood at 15.4% at the end of that quarter, a level the company describes as industry-leading.
So free cash flow swinging from a first-quarter $2.7 billion to a second-quarter $17.2 billion is really how commodity businesses fund steady payouts out of unsteady earnings. The dividend and the annual buyback plan don't move with the quarter. The cash that pays for them does. And quarters like the first one can happen again -- when crude prices soften, or when derivative margin postings tie up cash the way they did then.
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Can the pace hold? Two things work in Exxon's favor. The first is costs. The company says it has achieved $16.3 billion of cumulative structural cost savings since 2019 (more, it says, than BP, Chevron, Shell, and TotalEnergies combined), including $1.2 billion added in the first six months of 2026.
None of that has come at the expense of investment, either. Exxon spent about $13 billion on capital projects in the first half.
The second is growth in low-cost barrels. Beyond the record Permian output, Exxon plans to start production at its fifth Guyana development in the fourth quarter, adding 250,000 barrels per day of capacity. Cheaper barrels should mean the payout stays covered at lower commodity prices. To me, that's what a dividend investor here should care about most, since it's the weak quarters that put a payout at risk.
At about 20 times earnings, the stock arguably isn't priced for a boom either -- though with an oil major, that ratio has as much to do with where crude prices sit as with the company itself.
The second quarter showed what full coverage looks like: $17.2 billion of free cash flow against $9.4 billion handed out. The first quarter showed the opposite, and the half-year ledger nets out to coverage with little margin. The payout commitments are enormous. For now, the cash is showing up.
ExxonMobil uvedl, že Guyana už pokryla investice a náklady ve výši 55 miliard USD, což má znamenat zlom k vyššímu volnému cash flow. Firma zároveň vykázala provozní peněžní tok 23,6 miliardy USD i přes omezení produkce na Blízkém východě.
Key Takeaways ExxonMobil generated $23.6B of operating cash flow despite Middle East disruptions cutting output about 10%.XOM says Guyana recovered $55B of investment and costs, marking an inflection toward higher free cash flow.ExxonMobil's Permian output topped 1.8M oil-equivalent barrels per day as structural savings hit $16.3B. ExxonMobil Holdings Corporation (XOM - Free Report) used its second-quarter 2026 earnings call to stress portfolio resilience through Middle East disruption and stronger downstream margins. Management centered its message on Guyana cash flow, Permian growth and structural cost savings.
Adjusted EPS of $3.52 missed the Zacks Consensus Estimate of $3.68. Revenues of $116.01 billion topped the $Zacks Consensus Estimate of 95.80 billion.
ExxonMobil Frames Disruption as an Execution TestChairman and CEO Darren Woods said temporary Middle East disruptions reduced upstream production by about 10%, yet ExxonMobil generated $14.5 billion of earnings and $23.6 billion of operating cash flow.
Woods said the integrated portfolio helped keep facilities running and avoid roughly $750 million of annual disruption costs through modeling, fleet reallocations, reformulation and alternate supply.
The company also generated $17.2 billion of free cash flow and returned $9.4 billion to its shareholders through dividends and share repurchases.
XOM Sees a Guyana Cash Flow InflectionWoods said Guyana recovered invested capital and operating costs nearly two years earlier than expected. Gross production reached roughly 900,000 barrels per day in the quarter.
Senior vice president and CFO Neil Hansen told a Wolfe Research analyst that the project has fully recovered $55 billion of investment and costs. Hansen characterized the production-entitlement change as an inflection toward higher free cash flow.
Woods said ExxonMobil is evaluating a ninth FPSO and sees four new exploration prospects identified with AI tools. The fifth FPSO remains on track to start production by year-end.
ExxonMobil Expects Refining Tightness to PersistWoods told a Goldman Sachs analyst that he expects a robust refining market as regional disruptions, lower Chinese exports and Russian refinery outages constrain available capacity.
Management stated that ExxonMobil has high-graded its refining portfolio toward lower supply costs and higher-value products. The company reported record second-quarter diesel production, while U.S. Gulf Coast refinery reliability exceeded 95%.
Hansen added Energy Products has grown from about 9% to roughly 23% of business-line earnings over five years, reflecting refining investments, portfolio high-grading and stronger trading capability.
XOM Pushes Permian Technology at ScaleWoods said Permian production exceeded 1.8 million oil-equivalent barrels per day, another record. He added that more than 40 technology developments are aimed at improving recovery and capital efficiency.
Hansen highlighted 83 four-mile wells drilled year to date and about 1,200 producing wells of at least three miles since 2020.
Woods told a Morgan Stanley analyst that successful technologies can be combined to improve recovery while reducing the number of wells required.
ExxonMobil Extends Structural Cost SavingsWoods said cumulative structural cost savings have reached $16.3 billion since 2019, supported by centralized organizations and tighter value-chain accountability.
Management also added that said ExxonMobil combined upstream operations with its global operations organization on July 1, creating a roughly 31,000-person group across more than 150 sites in 48 countries. Larger process and data platform rollouts are planned for 2027.
Hansen told a Wells Fargo analyst that ExxonMobil still targets $20 billion of cumulative structural savings by 2030. He said annualized 2026 cash operating expenses would be roughly even with 2019 despite inflation and growth.
XOM Keeps Focus on Value and Financial FlexibilityWoods closed with a value-over-volume posture focused on advantaged investments, integration, technology and resilience through disruption.
Hansen and Woods kept execution tied to reliable production, higher-value products, lower structural costs and disciplined shareholder returns.
ExxonMobil’s Zacks Signals Pair Strength With Hold RankXOM carries a Zacks Rank #3 (Hold). Its Value Score and Growth Score are A, Momentum Score is B and VGM Score is A, producing broadly favorable Style Scores. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Under the Zacks Style Scores framework, A and B are the stronger grades, while the Zacks Rank reflects earnings-estimate revision trends over one to three months. The Zacks Rank can change as analysts revise estimates after the just-reported results.
ExxonMobil ve 2. čtvrtletí nesplnil očekávání zisku, ale volný peněžní tok vyskočil na 17,2 miliardy USD a vrátil akcionářům 9,4 miliardy USD. Dividendu zvyšuje už 42 let v řadě.
ExxonMobil (XOM +2.12%) recently reported its second-quarter earnings, which fell short of analysts' expectations. While the oil giant's adjusted earnings surged 67% to $14.7 billion, or $3.52 per share, analysts had anticipated $3.60 per share. That disappointment, along with lower oil prices, has weighed on the stock, pushing its dividend yield up to around 2.7%, more than double the S&P 500's level (1%).
However, while ExxonMobil's profits missed, its dividend certainly didn't. Here's why it remains a top dividend stock.
Image source: Getty Images.
Further fortifying the dividend's foundation Exxon's second-quarter earnings miss dominated the headlines. However, it didn't even come close to telling the whole story. The oil giant reported its highest upstream production in nearly two decades, excluding the impact of disruptions in the Middle East. It also reported record production in the Permian Basin and record diesel production. Meanwhile, it has now delivered a cumulative $16.2 billion in structural cost savings since 2019, more than all other international oil companies combined.
The oil giant's cash flow from operations surged from $8.7 billion in the first quarter to $23.6 billion, while its free cash flow ballooned to $17.2 billion. That free cash flow gusher allowed Exxon to return an industry-leading $9.4 billion to shareholders during the period, including $5.1 billion in share repurchases and $4.3 billion in dividends, the third-highest dividend payment among S&P 500 members.
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Exxon's surplus cash after shareholder distributions enabled it to strengthen its already fortress-like balance sheet. The oil giant reduced its debt by $7 billion in the quarter, which lowered its net debt-to-capital ratio to an industry-leading 11%. That puts its dividend on an even firmer long-term foundation.
Exxon's second-quarter financial results might have fallen short of analysts' expectations. Its high-yielding dividend, on the other hand, grew stronger in the quarter. The oil giant should have plenty of fuel to continue growing its dividend, which it has done for an industry-leading 42 consecutive years. It's an ideal stock for investors seeking a sustainable and steadily rising income stream.
Matt DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
ExxonMobil ve 2. čtvrtletí roku 2026 vykázal výnosy 114,5 mld. USD a čistý zisk 14,5 mld. USD. Akcie přesto zůstaly beze změny, protože trh zisky považuje za cyklické.
SummaryExxonMobil delivers robust financials, with Q2 2026 revenue at $114.5B and net profit of $14.5B, yet shares trade flat due to market skepticism.Wall Street discounts XOM's current super-profits as cyclical, driven by geopolitical tensions, and applies a forward P/E of 13, reflecting expectations of normalization.XOM's diversified operations, low-cost extraction, and active buybacks ensure resilience and $30B+ annual net profit even at $60 oil, supporting long-term value.My rating is Hold: the stock's current premium and risk of correction on geopolitical de-escalation outweigh immediate upside; wait for tactical relief to add. JHVEPhoto/iStock Editorial via Getty Images
ExxonMobil (XOM) published financial indicators that, at first glance, should have sparked clear optimism. The revenue showed a strong growth. The net profit increased noticeably, and cash flows remain highly strong; however, the reaction of Wall Street turned out to
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Exxon Mobil vykázal za 1. čtvrtletí upravený EPS 1,16 USD a upravený zisk 8,77 miliardy USD, nejvíce za zhruba čtyři roky. Akcie letos vzrostly o 30,9 %.
Exxon Mobil (NYSE:XOM | XOM Price Prediction) posted its best underlying quarterly profit in four years, with shares hitting fresh highs. After a 30.9% year-to-date run, risk/reward looks stretched.
Our 24/7 Wall St. price target for Exxon is $139.86, implying 9.14% downside from current levels. The recommendation is hold with 90% confidence, reflecting strong operations colliding with a rich multiple.
24/7 Wall St. Price Target Summary Metric Value Current Price $153.94 24/7 Wall St. Price Target $139.86 Upside/Downside -9.14% Recommendation HOLD Confidence Level 90% Why We Could Be Wrong on Exxon Our price target sits below current trading levels, and the bull argument is real. Golden Pass LNG Train 1 shipped its first cargo in April 2026, Guyana keeps beating schedule, and WTI is up 19.8% month over month to $84.25. If Brent stays elevated on Middle East risk, Exxon could easily exceed our target.
A Four-Year Profit Peak Meets a 44% Rally Exxon shares are up 43.65% over the past year and 14.06% in July alone, sitting just 5% below the 52-week high of $175.22.
Q1 2026 delivered adjusted EPS of $1.16 versus $1.01 expected, a 15.15% beat and the fourth straight quarter above consensus.
Underlying earnings hit $8.77 billion versus $7.58 billion a year earlier, the strongest underlying quarter in roughly four years, despite GAAP results dinged by $3.88 billion in unfavorable derivative mark-to-market timing and $706 million in Middle East disruption losses. CEO Darren Woods called it a “fundamentally stronger company”.
The Case for $164 and Higher Bulls cite a genuinely improved earnings engine. Cumulative structural cost savings since 2019 hit $15.6 billion, targeting $20 billion by 2030. Guyana crossed 900,000 barrels per day, Permian hit records, and advantaged assets grew to 59% of production.
Capital return is exceptional: $20 billion in 2026 buybacks planned and 43 consecutive years of dividend growth. Analyst consensus sits at $167.09, with bull-case scenarios reaching $164.10, a 6.6% return. If Brent holds near the EIA’s $106/b Q2 forecast, upside estimates look conservative.
What Could Send Shares Back to $125 The bear case starts with valuation. Exxon trades at a a premium trailing multiple, well above peers, and the 224.56% five-year rally already prices in significant upside.
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Q1 free cash flow fell 61.74% to $2.70 billion as capex climbed, and the effective tax rate jumped to 40%. The EIA expects Brent to fall to $79/b in 2027 as Middle East supply returns. Our bear-case scenario points to $125.51, an 18.47% drop.
How Exxon Compares to Chevron and ConocoPhillips Chevron (NYSE:CVX) trades at a forward P/E of 14 versus Exxon’s 14, but its trailing P/E is 19 versus Exxon’s 26. Chevron’s analyst target of $215 implies meaningful upside, suggesting the Street sees Exxon’s premium as harder to justify.
ConocoPhillips (NYSE:COP) offers a pure upstream contrast. COP trades at a a lower forward multiple with a a lower PEG than Exxon. COP looks cheaper per unit of growth, reinforcing our view that Exxon’s target should sit closer to $140 than $167.
Model Verdict: Rich Multiple Meets Stronger Engine The 24/7 Wall St. price target is $139.86, recommendation hold, confidence 90%. Valuation tips the scale: this is a fundamentally stronger Exxon, but a premium trailing multiple and 5% from the 52-week high leaves little margin for error.
The setup improves if crude sustains above $90 and free cash flow reaccelerates in Q2. Downside risk grows if Brent slides toward the EIA’s 2027 forecast. The current dividend yield sits at 2.6%.
Here is where our model projects Exxon could trade, assuming current growth trajectories hold.
Year 24/7 Wall St. Price Target 2026 $148.65 2027 $145.00 2028 $150.00 2029 $155.00 2030 $141.83 These projections assume Exxon continues executing on cost savings and advantaged-asset growth. Significant upside or downside could come from sustained Middle East disruption or faster-than-expected energy transition.
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For the quarter ended June 2026, Exxon Mobil Holdings (XOM - Free Report) reported revenue of $116.02 billion, up 42.3% over the same period last year. EPS came in at $3.52, compared to $1.64 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $95.8 billion, representing a surprise of +21.1%. The company delivered an EPS surprise of -4.35%, with the consensus EPS estimate being $3.68.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Exxon performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Oil-equivalent production per day: 4,514.00 KBOE/D versus 4,237.35 KBOE/D estimated by four analysts on average.Natural gas production available for sale per day - Europe: 274.00 Mcf/D compared to the 262.69 Mcf/D average estimate based on three analysts.Natural gas production available for sale per day - Africa: 117.00 Mcf/D versus the three-analyst average estimate of 113.79 Mcf/D.Natural gas production available for sale per day - Asia: 1,274.00 Mcf/D versus 1,147.92 Mcf/D estimated by three analysts on average.Revenues- Sales and other operating revenue- Specialty Products- Non-U.S.: $3.73 billion versus the two-analyst average estimate of $3.02 billion. The reported number represents a year-over-year change of +19.1%.Revenues- Sales and other operating revenue- Specialty Products- United States: $1.6 billion compared to the $1.66 billion average estimate based on two analysts. The reported number represents a change of +11% year over year.Revenues- Sales and other operating revenue- Upstream- United States: $8.2 billion compared to the $10.19 billion average estimate based on two analysts. The reported number represents a change of +38.1% year over year.Revenues- Sales and other operating revenue- Chemical Products- Non-U.S.: $4.34 billion versus $3.84 billion estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +17.2% change.Revenues- Sales and other operating revenue: $114.53 billion compared to the $97.55 billion average estimate based on two analysts. The reported number represents a change of +44.1% year over year.Revenues- Other income: $595 million versus the two-analyst average estimate of $438.07 million. The reported number represents a year-over-year change of +4.9%.Revenues- Sales and other operating revenue- Specialty Products: $5.24 billion compared to the $4.68 billion average estimate based on two analysts. The reported number represents a change of +14.6% year over year.Revenues- Sales and other operating revenue- Energy Products: $89.54 billion compared to the $72.2 billion average estimate based on two analysts. The reported number represents a change of +49.3% year over year.View all Key Company Metrics for Exxon here>>>
Shares of Exxon have returned +13.4% over the past month versus the Zacks S&P 500 composite's +0.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
ExxonMobil zveřejnil výsledky za 2. čtvrtletí 2026 a svolal konferenční hovor k výsledkům. V úvodu vedení uvedlo, že výhled je zatížen riziky a nejistotami.
ExxonMobil Holdings Corporation (XOM) Q2 2026 Earnings Call July 31, 2026 9:30 AM EDT
Company Participants
James Chapman - President & Treasurer
Darren Woods - Chairman of the Board & CEO
Neil Hansen - Senior VP & CFO
Conference Call Participants
Stephen Richardson - Evercore ISI Institutional Equities, Research Division
Neil Mehta - Goldman Sachs Group, Inc., Research Division
Arun Jayaram - JPMorgan Chase & Co, Research Division
Devin McDermott - Morgan Stanley, Research Division
Douglas George Blyth Leggate - Wolfe Research, LLC
Wei Jiang - Barclays Bank PLC, Research Division
Bob Brackett - Bernstein Institutional Services LLC, Research Division
Biraj Borkhataria - RBC Capital Markets, Research Division
Jean Ann Salisbury - BofA Securities, Research Division
Jason Gabelman - TD Cowen, Research Division
Manav Gupta - UBS Investment Bank, Research Division
Sam Margolin - Wells Fargo Securities, LLC, Research Division
John Royall
Presentation
James Chapman
President & Treasurer
Good morning, everyone. Welcome to ExxonMobil's earnings call. Today's call is being recorded. We appreciate you joining us. I'm Jim Chapman, and I'm joined by Darren Woods, Chairman and Chief Executive Officer; and Neil Hansen, Senior Vice President and Chief Financial Officer.
This quarter's presentation and prerecorded remarks are available on the Investors section of our website. They're meant to accompany this quarter's earnings release, which is posted in the same location.
During today's presentation, we'll make forward-looking remarks, including comments on our long-term plans, which are subject to risks and uncertainties. Please read our cautionary statement on Slide 2. You can find more information on the risks and uncertainties that apply to any forward-looking statements in our SEC filings on our website.
We also provided supplemental information at the end of our earnings slides, which are also posted on our website.
And now I'll turn it over to Darren for opening remarks.
ExxonMobil ve 2. čtvrtletí vykázal upravený zisk 3,52 USD na akcii, pod odhadem analytiků 3,68 USD, ale tržby 116 miliard USD odhady překonaly. Produkce v Permské pánvi poprvé přesáhla 1,8 milionu barelů denně.
Key Takeaways ExxonMobil posted Q2 adjusted earnings of $3.52 and revenue of $116 billion, topping revenue estimates.ExxonMobil's upstream segment earned $9.19 billion, supported by Permian output above 1.8 million barrels.ExxonMobil generated $17.2 billion in free cash flow and reduced net debt by more than $7 billion. ExxonMobil Holdings Corporation (XOM - Free Report) has reported second-quarter 2026 adjusted earnings of $3.52, missing the Zacks Consensus Estimate of $3.68 by 4.3%. Revenues of $116 billion topped the consensus estimate of $95.8 billion by 21.1%. Adjusted earnings increased from $1.61 in the year-ago quarter, while revenues rose 42.3% year over year from $81.5 billion.
The lower-than-expected quarterly earnings can be attributed to higher expenses due to scheduled maintenance activities and increased depreciation tied to recent investments. The company faced production disruptions related to Middle East conditions.
The results were partially offset by strong operating execution, with upstream production reaching 4,514 thousand oil-equivalent barrels per day and record Permian output above 1.8 million oil-equivalent barrels per day. ExxonMobil highlighted portfolio strength, cost savings and supply-chain optimization as the key contributors to its results.
XOM Benefits From Upstream Production GrowthExxonMobil’s upstream segment remained a major earnings contributor, generating adjusted earnings of $9.19 billion in the second quarter. The company reported its highest upstream production in more than two decades, excluding Middle East disruptions, supported by strong reliability and growth from advantaged assets.
The Permian Basin was a key operational driver, with production exceeding 1.8 million oil-equivalent barrels per day. Management said that Permian growth is expected to support a planned 9% compound annual growth rate through 2030. The fifth Guyana FPSO also set sail, with production startup expected in the fourth quarter and capacity expected to increase by 250 thousand barrels per day.
ExxonMobil Captures Energy Product GainsXOM’s Energy Products segment delivered adjusted earnings of $4.10 billion, helped by stronger refining conditions, optimization efforts and structural savings. Energy Products sales volumes increased to 5,698 thousand barrels per day from 5,630 thousand barrels per day in the prior quarter.
The company achieved record second-quarter diesel production as global supply conditions tightened. Management noted that its integrated system helped redirect products and optimize assets during market disruptions. However, scheduled maintenance affected reported results during the quarter.
XOM Sees Chemical And Specialty RecoveryExxonMobil’s Chemical Products segment posted adjusted earnings of $1.21 billion, improving from $110 million in the first quarter. The company benefited from North American feedstock advantages and stronger chemical margins, with management citing reliability across its Gulf Coast manufacturing assets.
Specialty Products adjusted earnings reached $969 million, supported by higher basestock margins and growth in high-value products. The segment continued to offset pressure from Middle East disruptions through stronger product performance.
ExxonMobil Expands Investments While Cutting CostsXOM continued investing in growth opportunities, with cash capital expenditure of $6.8 billion during the quarter and $13 billion for the first six months of 2026. The company said that 2026 planned investments are 20% higher than the nearest international oil company, with spending focused on advantaged assets and high-value products.
Cost efficiency remained a significant earnings support. The company reported cumulative structural cost savings of $16.3 billion, which it said exceeded the combined savings reported by other international oil companies.
XOM Strengthens Cash Flow & Balance SheetExxonMobil generated $23.6 billion in cash flow from operating activities and $17.2 billion in free cash flow during the second quarter. Shareholder distributions totaled $9.4 billion, including $4.3 billion in dividends and $5.1 billion in share repurchases.
The company ended the quarter with cash and cash equivalents of $10.6 billion and long-term debt of $32.2 billion. ExxonMobil also reduced net debt by more than $7 billion during the second quarter, improving its net debt-to-capital ratio to 11%.
ExxonMobil Outlines Q3 ExpectationsXOM expects third-quarter upstream results to reflect lower Guyana net entitlement volumes of about 100 thousand barrels per day due to production-sharing adjustments. Management said that this change does not reflect weaker operating performance or lower gross production.
The company also expects corporate and financing expenses of $0.8-$1 billion in the third quarter. Scheduled maintenance in Product Solutions is expected to be lower than in the second quarter, while Middle East production impacts remain a key factor for the outlook.
Zacks Rank & Stocks to ConsiderExxonMobil currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are HF Sinclair Corporation (DINO - Free Report) , Valero Energy (VLO - Free Report) and Kinder Morgan Inc. (KMI - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.
HF Sinclair’s operations are anchored by its refining business, which consists of seven complex refineries located across the Mid-Continent, Southwest, Rocky Mountains and Pacific Northwest regions. These facilities have a combined crude processing capacity of approximately 678,000 barrels per day, and are equipped to process discounted heavy and sour crude oils into higher-value refined products, including gasoline, diesel and jet fuel. The company’s renewables segment comprises the Artesia, Cheyenne and Sinclair renewable diesel facilities, which together have an annual production capacity of about 378 million gallons.
Valero is a leading refining player with a robust network of 14 refineries and a combined high-complexity throughput capacity of 3 million barrels per day, which distinguishes it from other independent refiners. Valero’s refineries have a combined Nelson Complexity Index of 11.5, which implies that they can process a wide variety of feedstocks, convert them into higher-value products and shift product yields according to market conditions.
Kinder Morgan operates one of North America's largest natural gas infrastructure networks, consisting of approximately 58,600 miles of transmission pipelines, 6,800 miles of gathering systems and 1,300 miles of natural gas liquids pipelines. KMI transports nearly 40% of U.S. natural gas production and controls more than 700 billion cubic feet of storage capacity, representing roughly 15% of the nation's total storage capacity.
Exxon Mobil ve 2Q zvýšil tržby na 116,02 mld. USD a překonal odhady produkce i prodejů ropných produktů. Očištěný zisk na akcii 3,52 USD ale mírně zaostal za konsensem.
Ropný gigant Exxon Mobil reportoval výsledky hospodaření za 2Q 2026. Očištěný zisk na akcii ve výši 3,52 USD nepatrně zaostal za očekáváním analytiků, která činila 3,54 USD. Objem produkce i prodeje ropných produktů naopak výrazně překonaly konsensus.
Výsledky společnosti Exxon Mobil (XOM) za 2Q 2026 2Q 2026 Konsensus 2Q 2026 2Q 2025 Tržby a ostatní výnosy (mld. USD) 116,02 103,10 81,51 Čistý zisk (mld. USD) 14,53 -- 7,08 Očištěný zisk na akcii (EPS, USD/akcie) 3,52 3,54 1,64 Výsledky za 2Q Objem produkce dosáhl 4,514 mil. barelů ropného ekvivalentu denně, čímž výrazně překonal očekávání analytiků nastavené na 4,227 mil. barelů. Meziročně jde nicméně o pokles z 4,630 mil. barelů, za kterým stojí výpadky produkce na Blízkém východě. Bez jejich vlivu by podle společnosti šlo o nejvyšší těžbu za více než dvě dekády.
Produkce ropy, zemního plynu, bitumenu a syntetické ropy činila 3 373 tis. barelů denně, což překonalo očekávání trhu ve výši 3 167 tis. barelů. Společnost ohlásila rekordní produkci v Permské pánvi nad úrovní 1,8 mil. barelů ropného ekvivalentu denně, což odpovídá plánovanému růstu 9 % ročně (CAGR) do roku 2030.
Prodeje ropných produktů dosáhly 5 698 tis. barelů denně oproti tržnímu odhadu 5 206 tis. barelů. Zpracovatelská kapacita rafinérií naopak s 3 562 tis. barely denně mírně zaostala za očekáváním 3 630 tis. barelů. Prodeje klíčových chemických produktů činily 4 471 tis. tun.
Očištěný čistý zisk z těžebního segmentu činil 9,19 mld. USD, mezikvartálně o 2,92 mld. USD více. Energetické produkty vygenerovaly očištěný zisk 4,10 mld. USD. Chemický segment přispěl 1,21 mld. USD a specializované produkty přinesly 969 mil. USD.
Provozní hotovostní toky dosáhly ve 2Q celkem 23,6 mld. USD, volné hotovostní toky (FCF) poté 17,2 mld. USD. Kapitálové výdaje činily 6,8 mld. USD za čtvrtletí a 13,0 mld. USD od začátku roku, což je v souladu s celoročním plánem společnosti.
Dopady konfliktu na Blízkém východě Výpadky objemů na Blízkém východě snížily zisk za první pololetí o 1,8 mld. USD. Společnost upozorňuje, že pokud by Hormuzský průliv zůstal uzavřen po celé 3Q, snížila by se produkce na Blízkém východě zhruba o 750 tis. barelů ropného ekvivalentu denně oproti roku 2025.
Navrácení kapitálu akcionářům Společnost za 2Q navrátila akcionářům celkem 9,4 mld. USD, z čehož 4,3 mld. USD připadlo na vyplacené dividendy a 5,1 mld. USD na zpětné odkupy akcií. Představenstvo deklarovalo kvartální dividendu ve výši 1,03 USD na akcii.
Komentář CEO „Druhé čtvrtletí utvářely výpadky, ale definovala jej exekutiva," uvedl předseda představenstva a generální ředitel Darren Woods. „Trhy byly příznivé, ale naše výkonnost odrážela sílu portfolia a provozního modelu, který jsme budovali řadu let."
„Jak se podmínky měnily, přesouvali jsme produkty tam, kde jich bylo potřeba, optimalizovali aktiva a podporovali zákazníky s využitím našeho globálního integrovaného portfolia. Doručili jsme silný zisk i hotovostní toky, pokračovali v investicích do výhodných příležitostí, vrátili kapitál akcionářům a posílili bilanci. Podstatné je, že zůstáváme odhodláni dál rozvíjet výhodnou produkci, abychom pomohli pokrýt světovou potřebu spolehlivé energie."
„ExxonMobil není postavený na jeden trh, jedno čtvrtletí ani jeden soubor podmínek. Je postavený tak, aby vedl trh v jeho proměnách — aby své výhody proměňoval v silnější výkonnost a nadstandardní dlouhodobé výnosy pro akcionáře."
Představení společnosti Exxon Mobil Zde si můžete přečíst naše představení společnosti z 14. 9. 2023.
Akcie Exxon Mobil Akcie Exxon Mobil (XOM) v předburzovní fázi obchodování oslabují o 0,81 % na 155,7 USD. S akciemi je rovněž možné obchodovat na RM-SYSTÉMu pod tickerem BAAEXMOC, kde se naposled zobchodovaly za 2 916,5 Kč.
Akcie ExxonMobil Holdings (XOM) před výsledky na 156,97 USD Ukazatel Ukazatel Kapitalizace (mld. USD) 650,6 P/E 18,9 Vývoj za letošní rok (%) +30,4 Očekávané P/E 13,8 52týdenní minimum (USD) 105,5 Prům. cílová cena (USD) 166,5 52týdenní maximum (USD) 176,4 Dividendový výnos (%) 2,6 Zdroj: Exxon Mobil, Bloomberg
Konsorcium vedené ExxonMobil v Guyaně získalo zpět 55 miliard USD investovaných od roku 2014, asi o dva roky dříve, než čekalo. Guyana tak nyní dostane větší podíl na zisku z ropného pole Stabroek.
A Guyanese flag flies outside the ExxonMobil offices, as Guyana's fast-growing economy is set to benefit from a reshaped global energy market due to the U.S.-Israeli war on Iran, in... Purchase Licensing Rights, opens new tab Read more
SummaryCompaniesHistoric development costs recouped two years earlier than expected, CFO saysGuyana and oil consortium to split remaining profit oil evenly under contract termsExxon will receive 100,000 bpd fewer in Q3, but free cash flow will riseHOUSTON, July 31 (Reuters) - An ExxonMobil-led (XOM.N), opens new tab joint venture has recovered the billions of dollars it invested to develop a large oilfield in Guyana, its chief financial officer told Reuters, and the South American country will now receive more oil money.
Guyana's Stabroek Block, estimated to hold at least 11 billion barrels of oil equivalent, has become one of the top assets of the U.S. oil producer's portfolio since its discovery in 2015. Revenue from the field has made Guyana one of the fastest-growing economies in the world, with the country now producing more than 900,000 barrels per day.
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The joint venture's production sharing contract (PSC) with Guyana allowed Exxon and its partners to take up to 75% of the oil to cover their exploration and development costs.
The accumulated $55 billion invested since 2014 has been recouped about two years faster than expected because of the rapid development of the block, Exxon Chief Financial Officer Neil Hansen said in an interview.
"We brought these investments on at an unprecedented pace and cost advantage," Hansen said.
Under the PSC, the consortium splits profit oil evenly with Guyana after recovering costs. Exxon will now book about 100,000 fewer bpd from the country as it enters the third quarter, but free cash flow will increase by 2030 to twice the level seen in 2025, he said.
Exxon operates the Stabroek Block with a 45% interest. Chevron (CVX.N), opens new tab holds a 30% stake in the block after acquiring Hess Corp, the original partner in the consortium, and Chinese oil firm CNOOC (600938.SS), opens new tab holds 25%.
The consortium's fifth and sixth projects in the Stabroek Block — Uaru and Whiptail — are expected to begin oil production this year and next year, respectively.
Guyana, with a population of about 1 million people, still faces the challenge of diversifying its economy beyond oil. While many local businesses have thrived, residents continue to struggle with prolonged electricity blackouts and ailing infrastructure.
Reporting by Sheila Dang in Houston; Editing by Nathan Crooks and Tom Hogue
Our Standards: The Thomson Reuters Trust Principles., opens new tab
ExxonMobil čeká 31. července výsledky za 2. čtvrtletí, přičemž zisk na akcii má vyskočit téměř o 136 % na 3,87 USD. Firma zároveň uvedla, že vyšší ceny kapalin mohou zvednout zisk z upstreamu o 3,5 až 3,9 mld. USD.
Key Takeaways ExxonMobil is due to report Q2 results July 31, with EPS seen up nearly 136% year over year.Higher liquid prices may lift XOM's upstream earnings by $3.5B-$3.9B sequentially.XOM has outpaced its industry, but its 10.23x EV/EBITDA exceeds the 6.71x industry average. ExxonMobil Holdings Corporation (XOM - Free Report) is set to report second-quarter 2026 results on July 31, before the opening bell.
The Zacks Consensus Estimate for second-quarter earnings is pegged at $3.87 per share, implying a surge of almost 136% from the year-ago reported number. It has witnessed one downward estimate revision in the past seven days. The Zacks Consensus Estimate for second-quarter revenues is currently pegged at $95.8 billion, suggesting a roughly 18% rise from the year-ago actuals.
XOM beat the consensus estimate for earnings in each of the trailing four quarters, with the average surprise being 6.04%. This is depicted in the graph below:
Image Source: Zacks Investment Research
Q2 Earnings Whispers for XOMOur proven model doesn’t predict an earnings beat for XOM this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That isn’t the case here.
The leading integrated energy player has an Earnings ESP of -2.40%. XOM currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
XOM’s Factors to NoteIn its latest 8-K SEC filings, XOM stated that it is likely to see a sequential improvement in the June quarter upstream earnings by $3.5 billion to $3.9 billion due to an increase in liquid prices.
To have an idea of how oil prices behaved in the June quarter, let's analyze the commodity prices from the data provided by the U.S. Energy Information Administration (“EIA”). The average Cushing, OK, WTI spot prices for April, May and June of this year were $100.32 per barrel, $102.13 per barrel and $84.81 per barrel, respectively, per EIA data. Commodity prices were $63.54 per barrel, $62.17 per barrel and $68.17 per barrel, respectively, in April, May and June of 2025, according to the EIA.
A constructive oil-price backdrop due to the Iran war aided the company’s exploration and production businesses in the June quarter of this year, similar to BP plc (BP - Free Report) and Chevron Corporation (CVX - Free Report) .
XOM added that stronger margins from its Energy Products segment are likely to have provided a $2.0 billion to $2.4 billion sequential benefit.
XOM’s Price Performance & ValuationXOM's stock has jumped 37.2% over the past year, outperforming the industry’s 35.6% surge. BP has gained 28.4% over the same time frame, while Chevron has rallied 21%.
One-Year Price Chart
Image Source: Zacks Investment Research
While XOM’s stock price has outperformed the industry, the company appears relatively overvalued. The company's current trailing 12-month enterprise value/earnings before interest, tax, depreciation and amortization (EV/EBITDA) is 10.23x, reflecting that it is trading at a premium compared with the industry average of 6.71x. Both BP and CVX are valued lower at 3.15x and 9.85x, respectively.
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Investment Thesis of XOMExxonMobil has a massive footprint in the Permian, the most prolific oil and gas play in the United States, and offshore Guyana. In the Permian, the integrated giant has been employing lightweight proppant technology and hence is capable of boosting its well recoveries by up to as much as 20%.
According to the data from the Federal Reserve Bank of Dallas, the shut-in price for existing wells in the Midland, a sub-basin of the Permian, is $42 per barrel. For Delaware, another sub-basin, the Federal Reserve Bank of Dallas estimated the price at $34 per barrel.
With West Texas Intermediate (“WTI”) crude oil trading above the $80-per-barrel mark, significantly above the shut-in prices, it makes sense for XOM to continue production in the wells. Although the upstream business seems lucrative now, the high oil price is hurting the company’s refining operations, since the input costs have jumped. Also, with a significant proportion of earnings being generated from upstream activities, the company’s business is highly vulnerable to the volatility in commodity prices.
Last WordGiven the backdrop, it might not be wise for investors to bet on the integrated energy giant ahead of earnings because of its overvaluation. However, those who have already invested may hold on to the stock.
Exxon Mobil vstupuje do výsledků za 31. července po čtyřech po sobě jdoucích čtvrtletích, kdy překonal odhad EPS, a těží z vyšší produkce v Guyaně a Permské pánvi.
Exxon Mobil (NYSE:XOM | XOM Price Prediction) enters its July 31 earnings report with 43 consecutive years of dividend growth and a $20 billion annual buyback program. Strong production from Guyana and the Permian, combined with higher oil prices during Q2, could give the energy giant another opportunity to extend its four-quarter earnings-beat streak.
Higher Oil Prices Could Drive Another Earnings Beat ExxonMobil has beaten EPS four straight quarters. Q1 2026 adjusted EPS came in at $1.16 versus $1.0074, a 15.15% beat, and Polymarket puts an 84.5% probability on another beat on July 31. Golden Pass LNG Train 1 loaded its first cargo in April 2026, Guyana output crossed 900,000 gross barrels per day, and the Permian hit a record 1.8M boed in Q4 2025. WTI traded between $80 and $114 during Q2, providing a strong upstream backdrop.
A 43-Year Dividend Growth Streak Meets a $20 Billion Buyback Exxon pays a 2.65% dividend yield, and the last hike (4% announced in Q3 2025) extended the 43-year growth streak. Layer the $20 billion 2026 repurchase program (with $4.9 billion executed in Q1) on top of the dividend, and total shareholder yield lands much higher than the visible dividend yield.
Exxon’s Balance Sheet Supports the Valuation XOM trades at a P/E of 23, an EV/EBITDA of 10.71, and a Price/Book of 2.51. These don’t seem like unreasonable multiples for a business that generated $26.13 billion in free cash flow in 2025 with Debt/Equity of just 0.168 and interest coverage of 56.28x. The stock’s beta sits at just 0.162, making it a low-volatility stock relative to the broader energy sector.
Exxon Looks Stronger Than Chevron on Cash Flow and Valuation Chevron (NYSE:CVX) trades at a P/E of 32 (versus XOM’s 23), rides a shorter 39-year dividend streak, and reported negative $1.55 billion of free cash flow in Q1 2026 as capex outran operating cash.
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Chevron is also investing in recently acquired Hess assets, Guyana, the Gulf of Mexico, and the Permian Basin to support 7% to 10% production growth in 2026. That spending could strengthen future cash flow, but Exxon currently offers the more attractive combination of valuation, reported free cash flow, dividend history, and buyback scale.
The Headline Profit Decline Hides Stronger Underlying Earnings Exxon’s reported Q1 profit fell sharply, but the headline decline included billions of dollars in derivative timing effects and disruption costs. Excluding those items, underlying earnings increased to $8.77 billion from $7.58 billion. As CEO Darren Woods said on the Q1 call, “This quarter demonstrated that ExxonMobil is a fundamentally stronger company than it was just a few years ago, built to perform through disruption and across market cycles.”
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ExxonMobil uvedla, že vyšší ceny ropy by mohly ve 2. čtvrtletí zvýšit její ziskovost až o 5 miliard USD. Firma ale upozornila, že ceny ropy už z vrcholů výrazně klesly.
ExxonMobil (XOM +0.97%) provided additional information about its second-quarter operations to help Wall Street prepare for its actual earnings release. That isn't a normal event, but then these aren't normal times in the energy sector. Here's what investors need to know.
Oil: Big changes in a short period of time The geopolitical conflict in the Middle East broke out late in the first quarter. The price of oil rocketed higher, but the financial benefit was minimal in the first quarter. The second quarter will see most of the impact from the energy price spike caused by the conflict. Exxon's pre-earnings update is meant to clarify the potential impact, with some estimates suggesting it could add as much as $5 billion to the company's bottom line.
Image source: Getty Images.
That said, investors need to take the update with a grain of salt. Oil prices have already fallen materially from their peak levels. So the second-quarter benefit could be huge, but at this point it is hard to get a read on what that might mean for the third quarter. This speaks to the real issue investors need to keep in mind when they buy an energy stock like ExxonMobil.
Energy prices are volatile, hard stop The current geopolitical conflict is headline-grabbing, so investors are closely watching its impact on oil and natural gas prices. However, the energy sector has a long history of volatility. The current price swing isn't an outlier; it is the norm. That means that Exxon's earnings swing isn't abnormal, either. It is just par for the course.
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Exxon is one of the world's largest energy companies. And it has long handled the industry's ups and downs in relative stride, highlighted by decades' worth of annual dividend increases. It also has a peer-leading debt-to-equity ratio of roughly 0.2x, so it is financially prepared to deal with falling energy prices. It is a through-the-cycle energy stock for those who want to buy and hold. One quarter of good earnings shouldn't be the driver of your investment decision.
Buy Exxon with your eyes wide open That said, Exxon has been very clear about the current energy market. Despite the pullback in energy prices from their early conflict peak, Exxon doesn't believe oil prices fully reflect the fundamentals of the energy market right now. That hints that oil prices could rise again, even if the conflict comes to a close, which doesn't seem like it is in the cards right now. However, the really important takeaway from all of this is that oil prices are volatile, which means Exxon's earnings will be volatile, too.
ExxonMobil plánuje do roku 2030 zvýšit roční zisk o 25 miliard USD a cash flow o 35 miliard USD. Do nízkoemisních investic chce mezi lety 2025 a 2030 vložit 20 miliard USD.
Make no mistake: ExxonMobil (XOM 0.40%) remains the epitome of "big oil." The energy giant is one of the world's largest integrated oil and gas companies, with exploration projects, refineries, and retail energy operations worldwide.
However, while the "green wave" investing trend has lost momentum in recent years, don't assume ExxonMobil has completely abandoned its efforts to capitalize on it. Alongside efforts to maximize the profitability of its legacy business through measures like cost-cutting and a focus on high-return exploration opportunities, ExxonMobil has continued to commit billions to its "clean energy" projects.
Although these projects don't contribute much to the bottom line yet, in a little over a decade, they could become a secondary source of profitability for this blue chip dividend stock.
Image source: Getty Images.
ExxonMobil's lean, mean, hydrocarbon cash machine ExxonMobil has prioritized maximizing profitability in its legacy business. Why? For starters, the company wants to maintain its dividend growth track record. With 43 years of consecutive annual dividend growth under its belt, it's less than a decade away from becoming one of the Dividend Kings, or companies with over 50 years of consecutive dividend growth.
Alongside growing the dividend, which currently gives the stock a 2.9% forward yield, ExxonMobil also remains committed to another type of "return of capital" activity: share repurchases. Management is currently targeting $20 billion in annual buybacks. That's around 3.3% of the company's current market capitalization.
As share repurchases help increase a stock's underlying per-share value over time, ExxonMobil is, in essence, trying to maintain a mid-single-digit return baseline. Besides the return of capital, the company is trying to, as CEO Darren Woods recently put it, "produce more oil for less money," with another objective in mind. That would be to produce greater cash flow, not only to support dividend and buyback growth, but to fund ExxonMobil's "green pivot" as well.
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The longer-term payoff ExxonMobil's near-term objective for its efficiency efforts is to increase annual earnings and cash flow by $25 billion and $35 billion, respectively, compared with 2024 levels. Management anticipates hitting this goal by 2030. The company is ramping up profitability to sustain earnings and dividend growth and spur further price appreciation.
Over a longer time horizon, however, the company is also putting a lot of this cash into its "green wave projects." As part of its "2030 Plan," unveiled last December, ExxonMobil also announced plans to invest $20 billion in what it calls its "lower-emission investments" between 2025 and 2030, with 60% of this investment focused on reducing emissions for third-party customers. This includes not only investment in ExxonMobil's carbon capture and storage (CCS) projects, but also in its Proxxima resin systems project, and in its budding low-emissions hydrogen and domestically sourced lithium.
Make no mistake. ExxonMobil isn't trying to "green" up its image by investing heavily in the business. Alongside sustainability, the oil and gas giant also sees financial opportunity. As the company's management believes these businesses could generate up to $13 billion in additional earnings by 2040, consider ExxonMobil's "green wave" wager as a secondary catalyst for the stock in the long term.
In short, buy this energy stock for the 2.9% dividend and 2030 transformation today -- and hold it for the next big transformation down the road.
ExxonMobil v roce 2025 vytvořila provozní cash flow ve výši 52 miliard USD a volné cash flow ve výši 23,61 miliardy USD. Firma zároveň vyplatila 17,23 miliardy USD na dividendách, zvýšila dividendu a provedla zpětné odkupy akcií za 20,27 miliardy USD.
The headline number is not a forecast or a promise. It is what Exxon Mobil (NYSE:XOM | XOM Price Prediction) has already put through the register across the past two fiscal years, and it explains why the market is willing to pay nearly 23-times trailing earnings for a business tied to a commodity that just fell 21.2% in a single month.
The Number ExxonMobil generated $52 billion in operating cash flow in fiscal year 2025, on top of $55 billion in fiscal 2024. That two-year haul is the cash flow story amounts to the total the title refers to, and it is a reported figure straight out of the company’s audited statement of cash flows, not guidance and not consensus. Free cash flow for 2025 landed at $23.61 billion after $28.36 billion in capital expenditures.
What It Means Operationally, that cash paid for everything at once. ExxonMobil returned $17.23 billion in dividends and completed $20.27 billion in share repurchases in 2025, while lifting capex 19.30% year over year to fund growth in Guyana, the Permian, and Golden Pass LNG. Exxon’s dividend has now been raised annually for 43 consecutive years, with management raising its payout in Q4 2025 by 4%.
Underneath the top line, the business is leaner than it was. Cumulative structural cost savings since 2019 reached $15.60 billion, against a $20 billion target by 2030. Advantaged assets (Permian, Guyana, LNG) accounted for 59% of 2025 production, up roughly 7 percentage points year over year. Full-year upstream production hit 4.7 million oil-equivalent barrels per day, the highest in more than 40 years.
Exxon’s Q1 2026 report showed the same engine still running. Adjusted EPS came in at $1.16 versus a $1.01 consensus, and underlying earnings ex-items were $8.77 billion against $7.58 billion a year earlier. Reported net income of $4.18 billion was distorted by $3.88 billion in unfavorable mark-to-market derivative timing and $706 million in Middle East supply-disruption losses.
Market Reaction XOM stock closed at $137.09 on July 2, 2026, up 15.45% year to date and 27.36% over the trailing twelve months. Over five years the stock is up 160.87%. The last month has been softer, with shares off 8.34% as WTI slid from a June 3 print of $99.76 to $71.87 on June 29.
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Bull Case I think Exxon’s bull case rests on the durability of that cash engine at prices well below where it was minted. ExxonMobil has committed to $20 billion in buybacks in 2026, with cash capex guided to $27 billion to $29 billion. The company already put $4.9 billion of buybacks through in Q1 2026 alone.
Growth capacity is measurable. Guyana ran at a record above 900,000 gross barrels per day, Permian output hit a Q4 2025 record of 1.8 million boed, and Golden Pass LNG loaded its first Train 1 cargo in April 2026. CEO Darren Woods told analysts that Train 1 alone will lift US LNG exports by “about 5% relative to 2025 US exports” and, once all three trains are online, by roughly 15%.
Overall, I think the important thing to note is that this company’s balance sheet backs the plan, with debt to equity at 0.168, net debt to EBITDA of 0.548, and interest coverage of 56.28x.
Bottom Line For long-term holders, ExxonMobil is delivering the two things retirement-focused investors care about: a 3.03% yield backed by 43 straight years of dividend growth, and a buyback program funded out of cash the business actually earned. Exxon’s Q2 2026 dividend of $1.03 per share was payable June 10, 2026 to holders of record on May 15, 2026.
With WTI back near $71.87 and a $170.29 average analyst target sitting above the current price, the next test is whether Q2 earnings show the underlying earnings line holding up while the derivative and Middle East items fade. That is where the cash flow story either extends, or stalls.
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ExxonMobil čeká, že vyšší ceny kapalin přidají ve 2. čtvrtletí k zisku asi 3,5–3,9 miliardy USD ve srovnání s 1. čtvrtletím 2026. Marže v segmentech Energy Products, Chemical Products a Specialty Products mají zisk dál podpořit.
Key Takeaways XOM expects higher liquids prices to add about $3.5-$3.9 billion to Q2 earnings versus Q1 2026. ExxonMobil sees Energy, Chemical and Specialty Products margins boosting second-quarter earnings. Middle East disruptions hurt production, but supportive prices may still aid XOM's upstream profitability. Exxon Mobil Corporation (XOM - Free Report) , a U.S. oil and gas giant, has an integrated business model spanning upstream operations, refining and trading. The majority of its earnings are generated by its upstream segment. While the exploration and production business is vulnerable to fluctuations in oil and gas prices, the current business environment seems favorable for XOM’s upstream activities.
The conflict in the Middle East has disrupted global oil and gas flows, causing a major spike in crude prices, with the West Texas Intermediate benchmark surpassing the $100 per barrel mark in May 2026. In its latest 8-K filing, ExxonMobil has provided an update regarding its second-quarter results. The company indicated that higher crude prices and the impacts of the Middle East disruptions are expected to boost its second-quarter earnings compared with the first quarter. In fact, XOM estimates changes in liquids prices to add approximately $3.5-$3.9 billion to its earnings compared with first-quarter 2026.
Moreover, the company mentioned in its filing that the Energy Products and Chemical Products segments are expected to benefit from changes in margins. The Energy Products segment is expected to gain between $2 billion and $2.4 billion, while the Chemical Products segment is expected to witness an increase between $1 billion and $1.2 billion. The Specialty Products segment is forecasted to add approximately $300-$500 million to its earnings compared with first-quarter 2026. The gains in refining and chemicals margins likely reflect stronger industry margins in the second quarter. However, ExxonMobil noted that the ongoing conflict in the Middle East has caused production disruptions and operational shutdowns, partially offsetting these benefits. ExxonMobil is scheduled to release its second-quarter results on July 31.
The current market conditions, however, have changed significantly, and crude prices have retreated from the war-premium highs seen previously. Nevertheless, the current pricing environment remains supportive for ExxonMobil. Recent developments related to the conflict between the United States and Iran have again resulted in heightened uncertainty in global energy markets. The escalating geopolitical tensions may push oil prices higher in the near term, thereby supporting ExxonMobil’s upstream business. The company is well positioned to generate attractive upstream earnings and sustain its profitability, supported by its portfolio of low-cost, high-return advantaged assets in the Permian Basin and Guyana.
XOM’s Zacks Rank and Key PicksXOM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Cenovus Energy (CVE - Free Report) , Par Pacific Holdings (PARR - Free Report) and FuelCell Energy (FCEL - Free Report) . While Cenovus Energy and Par Pacific currently sport a Zacks Rank #1 (Strong Buy) each, FuelCell Energy carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
Cenovus Energy Inc. is a Canadian integrated energy company with operations spanning the upstream, midstream and downstream sectors. The company is involved in exploration and production from its low-cost oil sands and heavy oil assets in Canada. The strategic MEG Energy acquisition is expected to boost Cenovus Energy's production levels in 2026.
Par Pacific Holdings operates an integrated downstream energy business across the United States, with fuel retail operations in Hawaii, Washington, and Idaho, refining operations in Hawaii, Wyoming, Washington, and Montana, and a supporting logistics network. Its refineries have a combined crude oil throughput capacity of 219,000 barrels per day and produce gasoline, diesel, jet fuel, marine fuels, asphalt, and other petroleum products.
FuelCell Energy is a clean energy company that offers scalable, reliable, low-carbon power solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company’s proprietary molten carbonate fuel cell systems generate electricity through an electrochemical process instead of burning fuel, reducing carbon emissions and minimizing the environmental impact of power generation. FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
Exxon Mobil upravila odhad zisku za 2. čtvrtletí; UBS snížila EPS na zhruba 3,14 USD z 3,20 USD, pod konsenzem 3,43 USD. Zlepšení měly podpořit vyšší ceny ropy a silnější rafinační i chemické marže.
Exxon Mobil Corp (NYSE:XOM, XETRA:XONA) updated its second quarter 2026 earnings considerations after the market close on Tuesday, prompting UBS to slightly lower its earnings estimate while noting stronger quarter-over-quarter performance across the company's major business segments.
Following the filing, UBS reduced its second quarter earnings per share estimate to about $3.14 from its prior forecast of $3.20. The revised estimate is below the current Wall Street consensus of approximately $3.43 per share.
The analysts said the quarter-over-quarter improvement was driven primarily by higher crude oil prices, stronger refining margins and improved commodity chemicals margins.
UBS also said it had lowered its 2027 forecasts after its commodities team revised its oil price outlook. The firm now expects West Texas Intermediate crude to average $75 per barrel in 2027, down from its previous estimate of $80 per barrel.
Based on ExxonMobil's earnings considerations filing, UBS now expects upstream earnings of $8.63 billion for the second quarter, up from $5.7 billion in the first quarter and $5.4 billion in the year-earlier period.
The bank also raised its estimate for Energy Products earnings to $3.45 billion, compared with a loss of $556 million in the first quarter and earnings of $1.4 billion a year earlier.
For Chemical Products, UBS increased its forecast to $1.22 billion from $110 million in the prior quarter and $293 million a year earlier. Specialty Products earnings are now projected at $891 million, compared with $651 million in the first quarter and $780 million in the second quarter of 2025.
UBS noted that production disruptions related to the Middle East would reduce earnings by an estimated $700 million in the upstream business, $300 million in Energy Products and $200 million in Specialty Products, lowering total earnings by about $1.2 billion, or $0.28 per share.
"If these were to be treated as special items, earnings would be closer to $3.43 per share," the analysts wrote.
The firm also noted that ExxonMobil expects to record a $1.1 billion charge related to other items, including reserves, which UBS excluded from its clean earnings estimate.
In addition, UBS said timing effects would provide a $2.6 billion benefit to earnings. However, because those gains largely reverse first-quarter impacts, the firm included them in its clean earnings per share calculations.
ExxonMobil will report its Q2 earnings on July 31. The company’s shares traded hands at $140 on Wednesday afternoon, up almost 17% in the year to date.
ExxonMobil a partneři investují 1 miliardu USD do projektu Usan Infill Project v Nigérii, který má přidat 40 000 barelů ropy denně. Jde o návrat k vrtání po poslední aktivitě v roce 2016.
Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesLAGOS, July 8 (Reuters) - ExxonMobil (XOM.N), opens new tab and its partners will invest $1 billion in the Usan Infill Project offshore Nigeria, a development expected to add 40,000 barrels per day (bpd) of oil production, Nigeria's upstream regulator said on Wednesday.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said the investment marks a return to drilling activity by ExxonMobil affiliate Esso Exploration and Production Nigeria in the country, with the company's last drilling operation dating back to 2016.
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ExxonMobil's Nigerian affiliate, Esso Exploration and Production Nigeria, operates OML 138, which contains the Usan field under a production-sharing contract with NNPC Ltd.
ExxonMobil Nigeria Managing Director Jagir Baxi confirmed the investment commitment at an oil conference in Abuja.
NUPRC Chief Executive Oritsemyiwa Eyesan said the Usan project is expected to deliver first production within 18 months after seismic data identified the investment opportunity.
Nigeria is seeking to attract new upstream investment and raise crude oil production through development of offshore and onshore assets.
Separately, NUPRC presented 19 prospecting licences across deepwater, shallow-water and continental shelf acreage to successful bidders from the 2022/2023 Mini Bid Round and the 2024 Licensing Round.
Reporting by Isaac Anyaogu; Editing by Will Dunham
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Exxon Mobil za poslední rok vzrostl o 19,5 % a míří na těžbu 1,8 milionu barelů ropného ekvivalentu denně v Permské pánvi letos. Přesto působí nadhodnoceně, když se obchoduje na EV/EBITDA 9,06x.
Key Takeaways ExxonMobil has gained 19.5% in the past year, nearly matching the industry's 19.4% rise.XOM is on track to grow Permian output to 1.8 million oil-equivalent barrels this year.Softer crude prices and a 9.06x EV/EBITDA multiple make ExxonMobil look overvalued. Exxon MobilCorporation (XOM - Free Report) has surged 19.5% over the past year, almost in line with the 19.4% improvement of the composite stocks in the industry. BP plc (BP - Free Report) and Chevron (CVX - Free Report) , two other integrated players in the same space, have gained 19.6% and 9.7%, respectively, over the same time frame.
Image Source: Zacks Investment Research
Since XOM is a large integrated energy giant, investors interested in the stock might have been assessing how the ongoing oil pricing environment is impacting its business fundamentals. Let’s delve deeper into ExxonMobil’s business outlook before concluding on whether to invest in the stock.
Can XOM's Upstream Business Thrive With Oil Below $70?ExxonMobil has a massive footprint in the Permian, the most prolific oil and gas play in the United States, and offshore Guyana. In the Permian, the integrated giant has been employing lightweight proppant technology and hence is capable of boosting its well recoveries by up to as much as 20%.
According to the data from the Federal Reserve Bank of Dallas, the shut-in price for existing wells in the Midland, a sub-basin of the Permian, is $42 per barrel. For Delaware, another sub-basin, the Federal Reserve Bank of Dallas estimated the price at $34 per barrel.
With West Texas Intermediate (“WTI”) crude oil trading below the $70-per-barrel mark, significantly above the shut-in prices, it makes sense for XOM to continue production in the wells. On the first-quarter earnings call, XOM mentioned that it is on track with its plan of growing its production in the most prolific basin to 1.8 million oil-equivalent barrels this year.
ExxonMobil’s Robust Balance & Dividend CommitmentInvestors should also keep in mind that XOM has a strong balance sheet, on which it could rely during an unfavorable business environment. The debt-to-capitalization of ExxonMobil is 15.4%, which is significantly lower than 29.6% of the industry’s composite stocks.
Image Source: Zacks Investment Research
Coming to the integrated energy giant’s dividend commitment story, over the past 43 years, ExxonMobil has been rewarding shareholders with annual dividend hikes at an average rate of 5.8%.
Should Investors Bet on the Stock Now?Before concluding, we should also consider that WTI crude oil is now significantly down from the more than $100-per-barrel mark reached in May this year. With upstream operations responsible for XOM’s significant earnings generation, softer commodity prices are likely to have hurt the company’s bottom line, as they are affecting both BP and CVX.
Also, XOM is currently trading at a premium. The stock is trading at a trailing 12-month EV/EBITDA multiple of 9.06x, which is higher than the broader industry average of 5.49x. BP and CVX, two other integrated majors, are valued at 2.83x and 8.82x, respectively.
Image Source: Zacks Investment Research
Thus, investors shouldn’t rush to bet on the overvalued ExxonMobil stock right away. Those who have already invested may hold the stock. Currently, XOM carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Exxon Mobil a QatarEnergy s Kyprem podepsaly dohodu, která potvrzuje komerční využitelnost nalezišť Glaucus a Pegasus. Naleziště mohou obsahovat 8–9 bilionů kubických stop plynu.
Key Takeaways XOM and QatarEnergy signed a Cyprus deal affirming Glaucus and Pegasus discoveries as marketable.Cyprus says the offshore fields could hold 8-9 Tcf of gas, with FID expected by 2029.XOM expects first production by 2033 if the project proceeds as planned after appraisal and FEED. Exxon Mobil Corporation (XOM - Free Report) , a U.S.-based energy giant, and QatarEnergy have signed a deal with Cyprus affirming the prospects of two offshore natural gas discoveries as marketable, implying that these resources are large enough to be commercially developed. Per a Reuters report, the Declaration of Marketability was signed in Nicosia and is considered a significant milestone for Cyprus, as it facilitates the project's development. For Cyprus, this is a major step forward in its efforts to advance offshore gas discoveries into producing fields.
Project Progresses Toward FEED and Final Investment DecisionThe gas discoveries are located in two offshore blocks in the Glaucus and Pegasus gas fields. Cyprus has mentioned that the two discoveries could contain combined resources of approximately 8-9 trillion cubic feet (Tcf) of gas.This project is central to the country’s ambitions of establishing the Eastern Mediterranean as a reliable gas supplier to Europe.
ExxonMobil has stated that a final investment decision for the project is expected by 2029 and that, if the project proceeds according to plan, first production is expected by 2033. However, the report mentioned that the companies will first conduct additional drilling on the offshore fields to better understand their size and properties before progressing to the front-end engineering and design (FEED) phase.
Egypt's Existing Infrastructure to Support CommercializationIn May 2026, QatarEnergy signed a preliminary agreement with XOM and the government of Egypt to study the commercialization of gas resources discovered in Cyprus via Egypt's existing natural gas and liquefied natural gas (LNG) facilities. The agreement was intended to help the companies and the Egyptian government understand how Egypt's existing gas infrastructure could be utilized to develop Cyprus’ natural gas resources and evaluate related business and growth opportunities. The agreement could also help the companies to utilize existing resources optimally to support increasing gas needs in domestic and international markets.
ExxonMobil has stated that natural gas from the Pegasus and Glaucus fields would most likely be transported to Egypt through a pipeline tie-back, thereby utilizing existing infrastructure and making the development cost-efficient. A similar approach is also being considered for other gas discoveries in Cypriot waters. The Aphrodite gas field, operated by Chevron, contains an estimated 3.5-4.5 Tcf of natural gas, while the Cronos gas field, operated by Eni and TotalEnergies, contains more than 3 Tcf of gas. Both fields may also be connected to Egypt's gas and LNG infrastructure through similar pipeline tie-backs, which could utilize the country's spare operating capacity.
Strategic Importance for Cyprus and Europe's Energy SecurityThe agreement marks a significant step toward unlocking Cyprus' offshore natural gas potential and enhancing the Eastern Mediterranean region’s potential to become an alternative gas supplier to Europe. The project is expected to provide a reliable source of natural gas for the continent, supporting the region's efforts to diversify energy supplies and enhance Europe’s long-term energy security.
XOM’s Zacks Rank and Key PicksXOM currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Cenovus Energy (CVE - Free Report) , Par Pacific Holdings (PARR - Free Report) and FuelCell Energy (FCEL - Free Report) . While Cenovus Energy sports a Zacks Rank #1 (Strong Buy), Par Pacific and FuelCell Energy each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks Rank #1 stocks here.
Cenovus Energy Inc. is a Canadian integrated energy company with operations spanning the upstream, midstream and downstream sectors. The company is involved in exploration and production from its low-cost oil sands and heavy oil assets in Canada. The strategic MEG Energy acquisition is expected to boost Cenovus Energy's production levels in 2026.
Par Pacific Holdings is a Houston-based refining player with a combined refining capacity of 219,000 barrels per day, and operations spread across Hawaii, the Pacific Northwest and the Rockies. The company also operates 76 branded retail locations along with a logistics business segment.
FuelCell Energy is a clean energy company that offers scalable, reliable, low-carbon power solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company’s proprietary molten carbonate fuel cell systems generate electricity through an electrochemical process instead of burning fuel, reducing carbon emissions and minimizing the environmental impact of power generation. FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
ExxonMobil zvýšil dividendu už 43 let po sobě a nyní nabízí forwardový dividendový výnos 3 %. Firma těží z diverzifikace mezi těžbou, přepravou a rafinací ropy a plynu.
ExxonMobil (XOM 0.11%) has raised its dividend for 43 consecutive years. That puts it on track to join the elite club of Dividend Kings, which have raised their payouts annually for at least half a century. It currently pays a forward yield of 3%.
ExxonMobil maintained that streak even as the U.S. endured four major recessions over the past four decades. Including reinvested dividends, its stock has generated a total return of 4,450% over the past 40 years. Let's see why it's so resilient, and why I'd still buy it today.
Image source: Getty Images.
Why is ExxonMobil a resilient company? ExxonMobil's upstream business extracts oil and natural gas, its midstream business owns more than 16,000 miles of pipelines across North America, and its downstream business produces petroleum products. That diversification insulates it from volatile oil prices.
Higher oil prices usually generate tailwinds for its upstream business, as its revenue growth outpaces its expenses, but they can hurt its downstream business with higher input costs. But when oil prices decline, its downstream business can grow faster than its upstream business. Its midstream business, which simply charges "tolls" for pipeline use, flourishes in both markets.
Today's Change
(
-0.11
%) $
-0.15
Current Price
$
136.57
ExxonMobil has a presence in over 56 countries, but it gets more of its oil and gas from the United States. It still gets about a fifth of its resources from the volatile Middle East, but it usually offsets that pressure with its stable production in other markets.
To further reduce its dependence on the Middle East, it's expanding its largest oil fields in the Permian Basin, building more offshore oil rigs in the Gulf of Mexico, importing oil sands from Canada, and ramping up production in Guyana (one of the world's fastest-growing oil regions) and other high-growth markets across Latin America, Asia, and Africa. It's also exporting more liquefied natural gas (LNG) and expanding its carbon capture and storage business.
How sustainable is ExxonMobil's dividend? ExxonMobil's EPS growth has been volatile over the past five years. Its profits surged in 2022 after Russia's invasion of Ukraine sent oil prices soaring, but normalized over the following three years. However, its fluctuating EPS still easily covered its annual dividend hikes.
Metric
2021
2022
2023
2024
2025
Diluted EPS
$5.39
$13.26
$8.89
$7.84
$6.70
Dividend per Share
$3.49
$3.55
$3.68
$3.84
$4.00
Payout Ratio
64.7%
26.8%
41.4%
49%
59.7%
Data source: ExxonMobil.
This year, the price of WTI crude oil surged again after the outbreak of the Iran war in late February, hitting a four-year high of $112.25 per barrel in mid-May. It's since pulled back to under $70 per barrel, but analysts still expect that spike to boost ExxonMobil's EPS by 75% to $11.71 this year and comfortably cover its forward dividend rate of $4.12 per share.
Over the past 12 months, ExxonMobil spent 92% of its free cash flow (FCF) on its dividends. That cash dividend payout ratio should also decline this year as its profits soar.
Why is ExxonMobil a safe investment right now? ExxonMobil's upstream business benefited from soaring oil prices, and it should keep thriving as long as the price of WTI crude oil stays far above its breakeven level of about $30 per barrel. Even if crude oil prices finally pull back, its midstream and downstream businesses can pick up the slack and generate plenty of cash to cover its dividends.
At $136 per share, ExxonMobil still looks like a bargain at 12 times this year's earnings. It's not as tightly tethered to oil prices as companies like Occidental Petroleum, which generates most of its revenue from its upstream business, but it's still a rock-solid investment.
Nejvyšší soud USA usnadnil ExxonMobil cestu k odškodnění za majetek zabavený Kubou a vrátil jeho spor s CIMEX zpět k nižšímu soudu. Firma tvrdí, že její nárok dnes přesahuje 1 miliardu USD.
SummaryCompaniesExxon seeks compensation for property seized in 1960Trump allowed wave of US lawsuits against CubaExxon sued under US law called the Helms-Burton ActTrump administration supported Exxon in caseWASHINGTON, June 23 (Reuters) - The U.S. Supreme Court made it easier on Tuesday for U.S. companies to seek compensation from Cuba's government for property seized decades ago by former leader Fidel Castro's government, ruling in favor of ExxonMobil (XOM.N), opens new tab in its lawsuit against Cuban state-owned firm Corporación CIMEX.
In a 6-3 decision, the court said a legal defense called foreign sovereign immunity, which generally prohibits U.S. lawsuits against foreign governments and their agents, is not available in cases like the one Exxon brought against CIMEX under a 1996 U.S. law called the Helms-Burton Act.
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Conservative Justice Brett Kavanaugh, who authored the ruling, wrote that the 30-year-old federal law eliminates "the sovereign immunity of Cuban agencies and instrumentalities."
"The Helms-Burton Act authorizes private suits against Cuban agencies and instrumentalities — suits that would largely be nonstarters if subjected to the FSIA's requirements," Kavanaugh wrote, referring to the Foreign Sovereign Immunities Act of 1976.
The court's six conservative justices were in the majority. Justice Elena Kagan wrote a dissent that was joined by the court's two other liberal members.
Kagan said that the plaintiffs should be required to show that their suit was exempt from the Foreign Sovereign Immunities Act, arguing that, "Nothing in the text or 'architecture' of the Helms-Burton Act suggests that Congress abrogated the sovereign immunity of these defendants — much less that it did so with the requisite unmistakable clarity."
The Supreme Court reversed a lower court's 2024 ruling that CIMEX could invoke the sovereign immunity defense.
The decision removes a major obstacle Exxon faced in its 2019 lawsuit that accused CIMEX of unlawfully using a refinery and service stations that once belonged to Standard Oil, Exxon's corporate predecessor. The case will return to a lower court for further deliberations on CIMEX's potential liability.
A Helms-Burton Act provision called Title III permits lawsuits to be filed in U.S. courts against anyone who "traffics" in property confiscated by Cuba's communist government after the 1959 revolution that brought Castro to power. U.S. President Donald Trump's administration supported Exxon's appeal to the Supreme Court.
An Exxon spokesperson welcomed the court's decision on Tuesday, calling it "a critical moment in a 60-year effort to be compensated for what the Cuban government illegally seized."
"It reflects two things: the merits of our argument and the fact that our company will fight a good fight for as long as it takes," the spokesperson said.
The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. REUTERS/Lucas Jackson/File Photo/File Photo Purchase Licensing Rights, opens new tab
U.S.-CUBA TENSIONSThe ruling was issued at a rancorous time in U.S.-Cuban relations. The United States on May 20 brought murder charges against former Cuban President Raúl Castro, Fidel's younger brother, in a major escalation in Trump's pressure campaign against Cuba's government.
Under Trump, the United States has effectively imposed a blockade on Cuba by threatening sanctions on countries supplying it with fuel, triggering power outages and exacerbating its worst crisis in decades.
Exxon's suit involved Fidel Castro's confiscation of all of the U.S. energy company's Cuban oil and gas assets in 1959, which represented a loss valued at $70 million at the time. Exxon's current claim is now valued at more than $1 billion because of interest and the potential for enhanced damages.
According to Exxon, its assets were transferred to CIMEX, Cuba's largest state-owned conglomerate. CIMEX continues to hold and profit from the confiscated property.
Exxon's lawsuit was part of a flood of about 40 cases filed under the Helms-Burton Act in 2019 and 2020 because of a change in U.S. policy toward Cuba during Trump's first term in office.
When it passed the Helms-Burton Act, Congress authorized the U.S. president to suspend Title III on national security grounds. The provision was then suspended by three presidents seeking to avoid diplomatic conflicts with allies like Canada and Spain whose companies have invested in Cuba. Trump lifted that suspension in 2019.
Lower court rulings had made it difficult for U.S. companies to prevail in such cases, with most lawsuits being dismissed on jurisdictional or procedural grounds.
CRUISE DISPUTEThe decision was one of two issued by the Supreme Court this year in cases involving the Helms-Burton Act and Cuba.
In the other case, the court delivered a setback on May 21 to four American cruise operators that contested $440 million in combined judgments in litigation brought by a U.S. company called Havana Docks Corporation accusing them of unlawfully using docks in Cuba that it built and were later seized.
The justices set aside a lower court's decision to throw out the judgments against Carnival (CCL.N), opens new tab, Norwegian Cruise Line Holdings (NCLH.N), opens new tab, Royal Caribbean Cruises (RCL.N), opens new tab and MSC Cruises that were awarded to Havana Docks. The Supreme Court's decision sent the case back to the lower court for it to consider other defenses offered by the cruise lines.
Reporting by Jan Wolfe; Editing by Will Dunham
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