On May 26, 2023, Exxon Mobil Corp announced its plans to divest from non-core assets. As part of this strategy, the company is considering selling its majority stake in a liquefied natural gas (LNG) terminal located offshore Italy. The terminal is currently co-owned by ExxonMobil Italiana Gas, Qatar Terminal Company Limited (a subsidiary of QatarEnergy), and Italian gas grid operator Snam.
Several international groups have expressed interest in acquiring Exxon’s majority stake in the terminal. These groups include BlackRock, Igneo Infrastructure Partners, German asset manager IKAV, and energy infrastructure group VTTI, which is linked to commodity trader Vitol and Australian infrastructure fund IFM.
The potential deal could value the entire LNG terminal at almost €800 million ($881 million). Italy is expected to increase its LNG imports to replace some of the gas it previously received via pipeline from Russia. This has attracted the attention of various infrastructure funds and international groups.
Exxon Mobil Corporation (XOM) Stock Performance and Analysis on May 26, 2023: Undervalued P/E Ratio and Positive Revenue Growth
On May 26, 2023, Exxon Mobil Corporation (XOM) opened at a slightly higher price than the previous day’s close, at $106.45. The day’s range was between $105.01 and $106.95, with a volume of 3,834,220 shares traded. The market capitalization for XOM was $429.6 billion.
XOM’s earnings growth for the previous year was an impressive 145.95%, but the growth for this year was a negative 28.01%. The revenue growth for the previous year was positive at 42.75%.
The P/E ratio for XOM was 7.1, indicating that the stock was undervalued. The price/sales ratio was 1.16, and the price/book ratio was 2.22.
XOM’s next reporting date was scheduled for July 28, 2023, with an EPS forecast of $2.33 for the quarter. The annual revenue for the previous year was $400.4 billion, and the annual profit was $55.7 billion, with a net profit margin of 13.92%.
XOM is in the Energy Minerals sector and the Integrated Oil industry. The corporate headquarters were located in Irving, Texas.
Overall, XOM’s stock performance on May 26, 2023, was steady, with a slight increase in the opening price and a range within the previous day’s close. The company’s positive revenue growth for the previous year and undervalued P/E ratio suggest that XOM may be a good investment opportunity for those looking to invest in the energy sector.
Exxon Mobil Corp (XOM) Stocks Predicted to Increase by 18.91% with Analysts Recommending a Buy
On May 26, 2023, Exxon Mobil Corp (XOM) stocks closed at a price of 105.12. The 22 analysts who offer 12-month price forecasts for the company have a median target of 125.00, with a high estimate of 146.00 and a low estimate of 110.00. This indicates a potential increase of 18.91% from the current stock price. The consensus among 27 polled investment analysts is to buy stock in Exxon Mobil Corp, a rating that has remained steady since May. Exxon Mobil Corp is a multinational oil and gas corporation that is involved in exploration, production, transportation, and sale of crude oil, natural gas, and petroleum products. The company’s current quarter earnings per share are $2.33, with sales of $92.3B. The reporting date for these figures is July 28, 2023. Exxon Mobil Corp has been affected by the COVID-19 pandemic and the resulting economic downturn, which has led to a decrease in demand for oil and gas. However, the company has been able to weather the storm and has continued to generate revenue and profits. The company has also been investing in renewable energy and has set a target of reducing its greenhouse gas emissions by 30% by 2025.
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