Exxon Mobil Corporation ($XOM) Stock Forecast: Down 5.0% Today

What is Exxon Mobil Corporation?

ExxonMobil (XOM) is a major player in the energy sector, involved in various oil and gas projects globally. Today, the stock experienced a significant bearish movement.

Why is Exxon Mobil Corporation going down?

XOM stock is down 5.0% on Sep 10, 2024 17:52

• ExxonMobil's decision to exit the race for the Namibia oil block stake may have disappointed investors, leading to a bearish sentiment.
• The forecasted slow earnings growth for XOM might have contributed to the negative market movement, testing investors' patience.
• Despite the partnership with ADNOC on a low-carbon hydrogen project, the overall market sentiment towards XOM seems to be overshadowed by concerns about future growth and value compared to its competitors.

XOM Price Chart

XOM Technical Analysis

XOM News

ExxonMobil Exits Race to Buy Namibia Oil Block Stake From Galp

XOM withdraws from the race to buy a 40% stake in Namibia's Mopane oil block from Galp, leaving other major energy players to compete for the asset valued at $10 billion.

https://www.zacks.com/stock/news/2334042/exxonmobil-exits-race-to-buy-namibia-oil-block-stake-from-galp

Bear of the Day: Exxon Mobile ( XOM )

The earnings growth is forecast to return next year but that might take some patience.

https://www.zacks.com/commentary/2333705/bear-of-the-day-exxon-mobile-xom

Alphabet, Exxon Mobil, Palantir Technologies And More On CNBC's 'Final Trades' - Exxon Mobil ( NYSE:XOM )

On CNBC's "Halftime Report Final Trades," Shannon Saccocia of NB Private Wealth named iShares U.S. Financials ETF IYF as her final trade. Jim Lebenthal of Cerity Partners said Exxon Mobil Corporation XOM is off just 5% from the recent high level.

https://www.benzinga.com/news/24/09/40788709/alphabet-exxon-mobil-palantir-technologies-and-more-on-cnbcs-final-trades

ExxonMobil Partners With ADNOC on Low-Carbon Hydrogen Project

XOM's partnership with ADNOC on the low-carbon hydrogen project should allow both companies to progress toward their net-zero target.

https://www.zacks.com/stock/news/2333056/exxonmobil-partners-with-adnoc-on-low-carbon-hydrogen-project

E vs. XOM: Which Stock Is the Better Value Option?

Investors interested in stocks from the Oil and Gas - Integrated - International sector have probably already heard of Eni SpA ( E Quick QuoteE - ) and Exxon Mobil ( XOM Quick QuoteXOM - ) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to ...

https://www.zacks.com/stock/news/2332972/e-vs-xom-which-stock-is-the-better-value-option

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Exxon Mobil Corporation Price History

10.08.2024 - XOM Stock was down 5.0%

• ExxonMobil's decision to exit the race for the Namibia oil block stake may have disappointed investors, leading to a bearish sentiment.
• The forecasted slow earnings growth for XOM might have contributed to the negative market movement, testing investors' patience.
• Despite the partnership with ADNOC on a low-carbon hydrogen project, the overall market sentiment towards XOM seems to be overshadowed by concerns about future growth and value compared to its competitors.

26.05.2023 - XOM Stock was up 1.3%

• Exxon Mobil Co. (NYSE:XOM) had a strong bullish movement today.
• The increase in holdings and stake by Lion Street Advisors LLC, National Bank of Canada FI, Transcend Capital Advisors LLC, and IronBridge Private Wealth LLC may have contributed to the bullish movement.
• The recent drop in energy stocks and the potential rise in demand for energy may have also played a role in the bullish movement.
• Investors seeking reasonable valuations, slow and steady growth, and healthy yield may find Exxon Mobil Co. (NYSE:XOM) to be a good investment option.

11.09.2023 - XOM Stock was down 5.2%

• The bearish movement in XOM's stock today can be attributed to the following factors:
• 1. Acquisition Deal: ExxonMobil's announcement of a $59.5 billion all-stock deal to acquire Pioneer Natural Resources could have caused a negative sentiment among investors. Such large-scale acquisitions often raise concerns about the financial implications and potential integration challenges.
• 2. Dominance in US Oilfields: The acquisition of Pioneer Natural Resources would make ExxonMobil the largest producer in the largest U.S. oilfield. While this may seem like a positive development, the market might be reacting to the potential risks associated with such dominance, including regulatory scrutiny and increased competition.
• 3. Geopolitical Tensions: The CEO of Pioneer Natural Resources, Scott Sheffield, mentioned that oil prices could surge if Iran enters the war between Israel and Hamas. Geopolitical tensions and the potential disruption of global crude supplies can create uncertainty in the oil market, impacting the stock price of oil companies like ExxonMobil.
• 4. Market Reaction: The market's response to the acquisition deal and the overall geopolitical situation might have led to a bearish sentiment, causing a decline in XOM's stock price.
• Overall, the bearish movement in XOM's stock today can be attributed to concerns surrounding the acquisition deal, potential risks of dominance in the US oilfields, and geopolitical tensions impacting the oil market.