|Bid||69.21 x 1400|
|Ask||69.29 x 1400|
|Day's range||69.12 - 70.54|
|52-week range||64.65 - 83.49|
|Beta (5Y Monthly)||1.00|
|PE ratio (TTM)||20.17|
|Earnings date||30 Jan 2020 - 3 Feb 2020|
|Forward dividend & yield||3.48 (4.95%)|
|1y target est||78.36|
Exxon Mobil did not mislead investors on the true cost of addressing climate change. That’s according to a New York judge, who ruled on Tuesday that state attorney general Letitia James failed to produce any evidence that suggested otherwise. James had argued that Exxon - one of the two largest U.S. oil companies - falsely stated that it had properly evaluated the impact of future climate regulations on its business, causing investors to lose $1.6 billion. In dismissing the case, Judge Barry Ostrager wrote: "Nothing in this opinion is intended to absolve Exxon Mobil from responsibility for contributing to climate change through the emission of greenhouse gases…" But he added that it was a securities case, not a climate change case. The lawsuit - filed in October 2018 - was the first of several climate change lawsuits against major oil companies to go to trial, which saw testimony from former Exxon CEO - and former Secretary of State - Rex Tillerson, who denied the allegations against the company.
An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions. Dutch group Follow This is targeting U.S. giants ExxonMobil , Chevron and their European rivals Royal Dutch Shell , BP and Equinor with climate resolutions ahead of next year's annual general meetings (AGMs) scheduled for the first half of 2020. Follow This owns minor stakes in the companies which enables it to file shareholder resolutions.
The initial exploration work by Equinor (EQNR), which hits a well holding water, is intended to test the discovery in the primary exploration target and decide the ratio between oil and gas.
Reportedly, ExxonMobil (XOM) plans for shipment of two cargoes, each with a capacity to carry 1 million barrels of oil from deepwater Liza field in January.
EIA's Weekly Petroleum Status Report revealed that crude inventories rose by 822,000 barrels, compared to the 1.8 million barrels decrease that energy analysts had expected.
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Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion (£1.25 billion) by hiding the true cost of climate change regulation. The ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Chief Executive Officer Rex Tillerson. The judge found that the New York State Attorney General's case failed to produce evidence that investors were misled.
Exxon Mobil won Tuesday in a closely watched lawsuit over the costs of climate change, with a judge saying there was no proof the energy giant duped investors about the toll that regulations could take on its business. New York Attorney General Letitia James' office didn't prove the company made any material misstatements "that misled any reasonable investor,” state judge Barry Ostrager in Manhattan wrote in dismissing the case. “Nothing in this opinion is intended to absolve Exxon Mobil from responsibility for contributing to climate change through the emission of greenhouse gases,” he added.
For left-leaning economists such as David Harvey, the term “neoliberalism” perfectly sums up the mix of laissez-faire economics, centrist politics and market supremacy that has held sway in the west for 40 years. While in 2016, the IMF said neoliberalism could be of enormous benefit where it conferred “financial openness”, but acknowledged some of its elements were overplayed and potential causes of instability. It never appeared in the FT’s old Lexicon and other commentators, including our very own Martin Wolf, continue to doubt its usefulness.
with New York state over the oil company’s disclosures regarding its vulnerability to climate change, in a ruling that could damage similar legal challenges filed by other states. In a rebuke of New York’s case, state supreme court judge Barry Ostrager said on Tuesday that the attorney-general’s office failed to prove that ExxonMobil “made any material misstatements or omissions about its practices and procedures that misled any reasonable investor”. centred on Exxon’s use of a proxy cost of carbon, which was presented by the company as a way to incorporate expected future curbs on emissions into its business planning.
2019 has been a tough year for oil companies, but some of the oil majors have fared surprisingly well due to their economies of scale advantage and low breakeven prices per barrel
The Zacks Analyst Blog Highlights: ExxonMobil, Starbucks, Diageo, Fidelity National Information Services and Colgate-Palmolive
ExxonMobil (XOM) has made 14 discoveries at the Stabroek block, wherein recoverable reserves are estimated to be more than 6 billion barrels of oil equivalent.
The U.S. shale patch is showing serious signs of financial distress, but a few companies continue to drill profitably for oil & gas in America’s most prolific shale basins
EIA's Weekly Petroleum Status Report shows a much bigger-than-expected drawdown in oil inventories, ending several consecutive weeks of builds.