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What a recovery – now we have Biden one minute it’s all XOM greed and next minute begging Aramco – see the profit they made in the earnings thread. Will Biden castigate them like he does his own US oil companies ?
Exxon Mobil (NYSE:XOM) reiterated as a Buy with a $112 price target at Goldman Sachs on Thursday after the bank hosted investor meetings with Chairman/CEO Darren Woods and other senior management.
Analyst Neil Mehta said Goldman continues to believe Exxon (XOM) offers differentiated upstream projects led by Guyana and the Permian Basin, a unique business transformation that drives the company’s free cash flow breakeven lower, and improving returns on capital employed.
Goldman noted Exxon’s (XOM) increasingly important role in energy transition and low-carbon emissions projects, seeing “biofuels, hydrogen and CCS as areas of focus where they have differentiated capabilities… Its refineries over time can be repurposed for biofuels production, chemicals/lubricants production, or plastic recycling.”
Exxon (XOM) management noted margins in the Chemicals unit have dropped closer to the low end of the 10-year average, but U.S. exposure and the ethane advantage in that market still positions the company well on a relative basis.
Exxon Mobil (XOM) discloses $1.4-1.8 bln negative Q3 impact from change in liquids prices; discloses $1.8-2.2 bln positive Q3 impact from change in gas prices
Energy giant ExxonMobil, the largest U.S. oil company, reported better than expected third-quarter earnings Friday and raised their dividend to reward
[See the full post at: Exxon Mobil Delivers Record Profits Sending XOM Shares to All Time Highs]
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