Today, Exxon Mobil Corp (NYSE:XOM), a major player in the petroleum refining industry with a market capitalization of $478 billion, disclosed its fourth-quarter earnings considerations for 2024. The information, which was provided in accordance with Regulation FD, was released in a Form 8-K filing with the Securities and Exchange Commission.
According to InvestingPro data, six analysts have recently revised their earnings expectations downward for the upcoming period, with the next earnings announcement scheduled for January 31, 2025.
The earnings considerations were presented as part of Exxon Mobil's commitment to transparency and in compliance with federal securities regulations. As per the 8-K filing, the company, which is listed on the New York Stock Exchange under the ticker XOM, has its principal executive offices in Spring, Texas. Currently trading at a P/E ratio of 13.5, InvestingPro analysis suggests the stock is fairly valued based on its comprehensive Fair Value model.
The document did not specify the financial details of the earnings considerations but indicated that they pertain to the fourth quarter of the previous year. The company's securities, including common stock and various notes due between 2028 and 2039, continue to be traded on the New York Stock Exchange.
Exxon Mobil, with roots dating back to Standard Oil Co of New Jersey and Exxon Corp, has a long-standing presence in the energy and transportation sector, maintaining an impressive 42-year streak of consecutive dividend increases with a current yield of 3.68%. The company's IRS employer identification number is 13-5409005, and it is incorporated in the state of New Jersey.
For detailed insights into Exxon Mobil's financial health, which InvestingPro rates as GOOD, investors can access the comprehensive Pro Research Report, available among 1,400+ top US stocks.
The filing was signed by Len M. Fox, Vice President, Controller, and Tax of Exxon Mobil Corporation (NYSE:XOM), fulfilling the company's regulatory requirements. The release of this information aligns with Exxon Mobil's practices of regular disclosure and aligns with the current financial reporting period as of January 7, 2025.
This news is based on a press release statement and provides a factual summary of Exxon Mobil's latest financial disclosure without speculation or promotional commentary.
In other recent news, ExxonMobil has been the subject of considerable analyst attention. Bernstein SocGen Group maintained its Outperform rating, emphasizing the company's strategic approach towards a post-oil future with low carbon solutions. Concurrently, RBC Capital retained its Sector Perform rating, advising investors to exercise caution despite ExxonMobil's expansion strategy.
ExxonMobil recently outlined an ambitious $140 billion investment plan through 2030, intending to increase cash capital expenditures and boost high-value product sales. The plan also includes raising synergies from the Pioneer acquisition and targeting additional structural cost savings.
In other recent developments, ExxonMobil received an extension until 2026 to divest its 30% holding in the Sakhalin-1 oil and gas project. Meanwhile, Exxon's senior executive, Liam Mallon, emphasized the industry's commitment to maintaining capital discipline, indicating that a significant shift in production is not expected.
These recent developments show ExxonMobil's continued strategic moves with a focus on expansion and capital discipline, while also maintaining a cautious approach towards its future investments and operations.
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