Exxon Mobil Corporation

Sector Update: Energy Stocks Advance Friday Afternoon

Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 0.3% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, and the Dow Jones US Utilities Index eased 0.2%.In geopolitical news, Iran said Friday that it had targeted US military assets at Kuwait's Ahmad Al-Jaber airbase, describing the attack as retaliation for US strikes a day earlier, Al Jazeera reported Friday. The US has not responded to Iran's attack yet, and specific details about the damage and casualties are not known, the news report said.Front-month West Texas Intermediate crude oil rose 1.4% to $84.76 a barrel, and the global benchmark Brent crude contract added 1.1% to $89.97 a barrel. Henry Hub natural gas futures fell 1.1% to $2.73 per 1 million BTU.In corporate news, Exxon Mobil (XOM) and Chevron (CVX) on Friday reported year-over-year gains in their Q2 results as supply disruptions in the Middle East boosted oil prices. Exxon shares were down 1.6%, and Chevron rose 1.6%.Phillips 66 (PSX) said Friday its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion. Phillips 66 shares were down 0.1%.Brookfield Infrastructure (BIPC) is mulling a potential sale of NorthRiver Midstream at roughly 7 billion Canadian dollars ($5 billion), Reuters reported. In recent weeks, Brookfield Infrastructure has been working with bankers to seek out potential interest in the Canadian natural gas-focused pipeline operator, the report said. Brookfield Infrastructure shares were shedding 0.2%.

Sector Update: Energy

Energy stocks were slightly higher Friday afternoon, with the NYSE Energy Sector Index rising 0.2% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.1%.The Philadelphia Oil Service Sector Index was climbing 1.8%, and the Dow Jones US Utilities Index eased 0.2%.Front-month West Texas Intermediate crude oil rose 1.4% to $84.76 a barrel, and the global benchmark Brent crude contract added 1.1% to $89.97 a barrel. Henry Hub natural gas futures fell 1.1% to $2.73 per 1 million BTU.In corporate news, Exxon Mobil (XOM) and Chevron (CVX) on Friday reported year-over-year gains in their Q2 results as supply disruptions in the Middle East boosted oil prices. Exxon shares were down 1.9%, and Chevron rose 1.5%.

Top Midday Stories: Apple Shares Fall on Weak Guidance; Amazon Q2 EPS Beats Estimates as AWS Sales Surge

Stocks rose in midday trading Friday, erasing earlier losses as investors assessed earnings from major companies.Apple (AAPL) reported fiscal Q3 earnings late Thursday of $2.02 per diluted share, up from $1.57 a year earlier and above the FactSet consensus estimate of $1.89. Revenue rose to $109.42 billion from $94.04 billion, topping the $109.04 billion consensus. The company expects fiscal Q4 revenue to increase 9% to 11%, below expectations. The shares fell 9.6% around midday.Amazon.com (AMZN) reported Q2 diluted EPS late Thursday of $5.75, up from $1.68 a year earlier and above the consensus of $1.82. Revenue rose to $200.61 billion from $167.70 billion, topping the $197.04 billion consensus. Amazon Web Services sales rose 37% to $42.2 billion. The company expects Q3 revenue of $197 billion to $202 billion, trailing the $203.91 billion consensus. Amazon shares jumped 14%.Novo Nordisk (NVO) said its drug candidate, ziltivekimab, did not reduce major adverse cardiovascular events in people with atherosclerotic cardiovascular disease, chronic kidney disease and inflammation compared with a placebo in a phase 3 trial. Novo shares fell 8.7%.Exxon Mobil (XOM) reported Q2 adjusted EPS of $3.52, up from $1.61 a year earlier and trailing the $3.56 consensus. Revenue and other income rose to $116.02 billion from $81.51 billion, topping the $109.94 billion Wall Street estimate. Exxon shares fell 2.2%.AbbVie (ABBV) reported Q2 adjusted diluted EPS of $3.65, up from $2.97 a year earlier and above the $3.60 consensus. Net revenue rose to $16.99 billion from $15.42 billion, topping the $16.78 billion consensus. The company expects full-year adjusted diluted EPS of $13.87 to $14.07, down from its prior guidance of $13.91 to $14.11 and compared with the $14.06 consensus. AbbVie shares fell 1.3%.Chinese AI company Moonshot has a computing power agreement with Alibaba (BABA) to use about 20,000 Nvidia (NVDA) chips, Bloomberg reported, citing people familiar with the matter. An Alibaba spokesperson called the report "completely groundless" in an email to. Alibaba shares rose 4.8%, and Nvidia shares gained 0.9%.Chevron (CVX) reported Q2 adjusted diluted EPS of $6.06, up from $1.77 a year earlier and above the $5.55 consensus. Revenue rose to $70.06 billion from $44.82 billion, topping the $62.72 billion consensus. Chevron shares rose 1.2%.Price: $301.23, Change: $-32.21, Percent Change: -9.66%

Sector Update: Energy Stocks Edge Higher Premarket Friday

Energy stocks were edging higher premarket Friday, with the State Street Energy Select Sector SPDR ETF (XLE) advancing by 0.4%.The United States Oil Fund (USO) was up 2.3% and the United States Natural Gas Fund (UNG) was 0.1% lower.Front-month US West Texas Intermediate crude oil was 2.1% higher at $85.38 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 1.4% to $90.26 per barrel, and natural gas futures were down 0.1% at $2.76 per 1 million British Thermal Units.Phillips 66 (PSX) shares were up more than 1% after the company said its board authorized an additional $10 billion of share repurchases, increasing the company's buyback capacity as the remaining authorization nears depletion.Exxon Mobil (XOM) stock was 0.8% lower after the company reported Q2 adjusted earnings below analysts' expectations.Chevron (CVX) shares were up 0.5% after the company posted higher Q2 adjusted earnings and revenue.

Update: Amazon Overperformance Lifts US Equity Futures Pre-Bell Amid Potential Expansion of Middle East Conflict to Egypt

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were higher pre-bell Friday as tech stocks, led by Amazon (AMZN), were on the upswing amid a potential expansion of the Middle East conflict to include Egypt.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures rose 0.9%.Amazon stock was up 10% in premarket activity after the tech giant reported better-than-expected Q2 results that highlighted the strength of its cloud-computing business.Egypt reported that a drone strike hit two vessels at the port of Damietta on Wednesday. No party has claimed responsibility for that attack, which is the first one in the country's territory since the war between the US and Iran began in late February.Iran said it attacked US assets in Kuwait and Bahrain after the recent wave of US strikes this week, CNBC reported Friday, citing state media.Traders digested the latest round of earnings, with Exxon Mobil (XOM) posting higher Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.6% at $88.29 per barrel and US West Texas Intermediate crude 1.8% higher at $85.06 per barrel.The Chicago purchasing managers index for July, due at 9:45 am ET, is seen coming in at 56.0, down from its prior value of 56.7, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for July, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 54.0, down from 54.4 in the prior period.In other world markets, Japan's Nikkei closed 4% higher, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was up 0.2%, and Germany's DAX index was 0.3% higher in Europe's early afternoon session.In equities, Micron Technology (MU) stock was up 2.6%, SK Hynix (SKHY) shares rose 5.6%, and Advanced Micro Devices (AMD) stock was 3.4% higher as part of a wider rally in the tech sector.On the losing side, Apple (AAPL) shares fell 7.9% despite the company's strong fiscal Q3 results as it missed estimates for iPad and services revenue. Exxon Mobil stock dropped 1.1% despite posting a Q2 adjusted earnings and revenue beat. AbbVie (ABBV) shares were down 3.3% after the company lowered its full-year 2026 adjusted earnings outlook.

Amazon Overperformance Lifts US Equity Futures Pre-Bell Amid Potential Expansion of Mid-East Conflict to Egypt

US equity futures were higher pre-bell Friday as tech stocks, led by Amazon (AMZN), were on the upswing, amid a potential expansion of the Middle East conflict to include Egypt.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 1.1% higher.Amazon stock was up 11% in premarket activity after the tech giant reported better-than-expected Q2 results that highlighted the strength of its cloud-computing business.Egypt reported that a drone strike hit two vessels at the port of Damietta on Wednesday. No party has claimed responsibility for that attack, which is the first one in the country's territory since the war between the US and Iran began in late February.Iran said it attacked US assets in Kuwait and Bahrain after the recent wave of US strikes this week, CNBC reported Friday, citing state media.Traders digested the latest round of earnings, with Exxon Mobil (XOM) posting higher Q2 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $88.38 per barrel and US West Texas Intermediate crude 1.5% higher at $84.85 per barrel.The Chicago purchasing managers index for July, due at 9:45 am ET, is seen coming in at 56.0, down from its prior value of 56.7, according to estimates compiled by Bloomberg.The final University of Michigan consumer sentiment report for July, scheduled at 10 am ET, is expected to show consumer sentiment index coming in at 54.0, down from 54.4 in the prior period.

ExxonMobil Q2 Upstream Output, Excluding Middle East, at Two-Decade High

US energy giant ExxonMobil (XOM) produced 4.514 million oil equivalent barrels per day in Q2 and said upstream output from advantaged assets outside the Middle East hit its highest in more than two decades.In Q1, the company had reported production of 4.594 million oeb/d. Year-to-date, production volumes averaged 4.554 million oeb/d, which compares to 4.591 million oeb/d in the corresponding year-ago period."Excluding the Middle East, we delivered our highest production in more than two decades - roughly 4.1 million oil-equivalent barrels per day," the company said in its earnings statement.Middle East output for the quarter ended June 30 was reported at 400,000 oeb/d, which comprised of 150,000 oeb/d domestic gas in Qatar and 250,000 oeb/d of liquids in the UAE.In Q2, the company reported energy products sales of 5.698 million b/d, up from 5.63 million b/d in the previous quarter. Year-to-date, energy products sales stood at 5.664 million b/d, versus 5.436 million b/d last year.Specialty Products Sales for the quarter were reported at 1.784 million tons, down from 1.976 million tons in Q1. Year-to-date, it was reported at 3.76 million tons, which compares to 3.94 million tons in the year-ago period."Upstream earnings improved, with record Permian production of more than [1.8 million oeb/d] and the absence of operational disruptions in Kazakhstan, partly offset by the Middle East disruptions," the company said.Middle East disruptions have caused year-to-date earnings to decline by $1.8 billion, the company added.Exxon said its Guyana assets are on track to reach production of about 1.3 million oeb/d within about 15 years of discovery. A fifth floating production, storage and offloading vessel there is on track to begin production in Q4 and add 250,000 barrels per day of capacity.In Q3, a production-sharing adjustment in Guyana and the pace of recovery in the Middle East will be reflected in the group's upstream production, ExxonMobil said.The Guyana adjustment is expected to reduce ExxonMobil's net entitlement volumes by about 100,000 barrels per day in Q3, reflecting "standard contractual allocation of production following cost recovery" rather than lower production, the company said.Meanwhile, Middle East output will depend on the reopening of the Strait of Hormuz, with estimates that closure of the vital waterway throughout Q3 would cause a 750,000 oeb/d year-on-year decline in output, the group said."Even after the Strait reopens, the two damaged Qatar LNG trains will remain offline, representing approximately [100,000 oeb] or about 3% of 2025 global production. We will continue working with the operator to support their safe and efficient return to service, but the timing of recovery remains uncertain," the company said.

Exxon Mobil Q2 Adjusted Earnings, Revenue Rise

Exxon Mobil (XOM) reported Q2 adjusted earnings Friday of $3.52 per share, up from $1.61 a year earlier.Analysts polled by FactSet expected $3.56.Revenue and other income for the quarter ended June 30 was $116.02 billion, compared with $81.51 billion a year earlier.Analysts polled by FactSet expected $109.94 billion.

Earnings Flash (XOM) Exxon Mobil Posts Q2 Revenue $116.02B, vs. FactSet Est of $109.94B

Sector Update: Energy Stocks Higher Late Afternoon

Energy stocks advanced late Thursday afternoon with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 0.5%.The Philadelphia Oil Service Sector Index advanced 2.5%, and the Dow Jones US Utilities Index fell 0.6%.Late Wednesday, the US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to CENTCOM. Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.West Texas Intermediate crude oil shed 0.9% to $83.71 a barrel, and global benchmark Brent fell 1.8% to $89.09 a barrel. Henry Hub natural gas futures rose 0.8% to $2.75 per 1 million BTU.US natural gas stocks rose by 28 billion cubic feet in the week ended July 24, a smaller rise than the 35 billion cubic foot increase expected in a survey compiled by Bloomberg and following an increase of 32 billion cubic feet in the previous week.In corporate news, Shell (SHEL) shares gained 2.7% after the company reported Q2 results that beat consensus estimates.Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were up 0.4%, and Chevron added 0.3%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 2.1%.GE Vernova (GEV) is investing $166 million to expand its operations in Western Pennsylvania, Governor Josh Shapiro and Pennsylvania Department of Community and Economic Development Secretary Rick Siger said Thursday. GE Vernova shares rose past 8%.Emera (EMA) received final approval from the New Mexico Public Regulation Commission for the sale of New Mexico Gas to Bernhard Capital Partners in a $1.25 billion deal. Emera shares were up 0.2%.

Sector Update: Energy Stocks Mixed Thursday Afternoon

Energy stocks were mixed Thursday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.2%.The Philadelphia Oil Service Sector Index was climbing up 2.1%, and the Dow Jones US Utilities Index decreased 0.5%.Late Wednesday, US Central Command forces completed a "heavy wave" of strikes against Iran in response to Tuesday's attempted missile attacks on US forces, according to a CENTCOM statement. "The strikes aimed to further diminish threats posed by Iran and its proxies to American forces, commercial shipping, and neighboring Gulf countries." Meanwhile, the Islamic Revolutionary Guard Corps targeted US bases in Kuwait and Jordan following Washington's strikes on Iran, Al Jazeera, a Middle East broadcaster, reported, citing the IRGC.Front-month West Texas Intermediate crude oil shed 0.4% to $84.09 a barrel, and the global benchmark Brent crude contract fell 1.3% to $89.58 a barrel. Henry Hub natural gas futures rose 1.5% to $2.76 per 1 million BTU.In corporate news, Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon and Chevron shares were each shedding about 0.4%.BP (BP) intends to cut around 700 non-frontline jobs from its global workforce, Reuters reported Thursday, citing an internal email it viewed. BP shares rose 1.2%.Celanese (CE) said Thursday that the Amsterdam District Court dismissed the damages claim brought by Shell's (SHEL) Shell Chemicals Europe unit. The court also dismissed a claim from Repsol-related entities seeking declaratory judgement of liability of Celanese and its co-defendants, it said. The claims stemmed from a 2020 settlement with the European Commission regarding past ethylene purchases in North-Western Europe, according to the company. Celanese shares were up 1.3%, and Shell was adding 1.6%.

Sector Update: Energy

Energy stocks were mixed Thursday afternoon, with the NYSE Energy Sector Index rising 0.4% and the State Street Energy Select Sector SPDR ETF (XLE) easing 0.2%.The Philadelphia Oil Service Sector Index was climbing up 2.1%, and the Dow Jones US Utilities Index decreased 0.5%.Front-month West Texas Intermediate crude oil shed 0.4% to $84.09 a barrel, and the global benchmark Brent crude contract fell 1.3% to $89.58 a barrel. Henry Hub natural gas futures rose 1.5% to $2.76 per 1 million BTU.In corporate news, Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported. Exxon shares were down 0.3%, and Chevron was shedding 0.4%.

Update: Market Chatter: Exxon, Chevron Face Hurdles Trying to Tap Into Venezuelan Oil

(Updates with Exxon Mobil's response to a request for comment in the last paragraph.)Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported Thursday, citing people familiar with the matter.One key issue is that the major US oil companies are interested in many of the same oil fields, and they want to secure the most favorable regulatory and fiscal terms possible. In addition, last month's devastating earthquake delayed progress, the report said.Exxon declined to comment, while Chevron didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $154.62, Change: $-2.13, Percent Change: -1.36%

Market Chatter: Exxon, Chevron Face Hurdles Trying to Tap Into Venezuelan Oil

Exxon Mobil (XOM), Chevron (CVX) and other big oil companies are vying for Venezuela's choicest drilling spots, but talks with Venezuelan officials have recently hit an impasse, preventing them from making big moves, The Wall Street Journal reported Thursday, citing people familiar with the matter.One key issue is that the major US oil companies are interested in many of the same oil fields, and they want to secure the most favorable regulatory and fiscal terms possible. In addition, last month's devastating earthquake delayed progress, the report said.Exxon and Chevron didn't immediately reply to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Exxon, Chevron Face Hurdles Trying to Tap Into Venezuelan Oil, WSJ Reports

Update: US Equity Futures Lower Pre-Bell as Middle East Hostilities Resume, Oil Prices Rise

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Wednesday as hostilities between the US and Iran resumed after a two-day pause and oil prices jumped.Dow Jones Industrial Average futures were 0.7% lower, S&P 500 futures were down 0.1, and Nasdaq futures were 0.2% lower.US Central Command said in a post on X that Iran's Islamic Revolutionary Guard Corps launched missiles in an "attempted surprise attack" on US forces, which an Axios correspondent said was directed at a US base in Jordan. In a subsequent post, the command said that US and Saudi Arabian forces hit "Iran-aligned terrorists" in Iraq in response to more than 30 Iran-directed drone attacks in the last 72 hours.Microsoft (MSFT) and Meta Platforms (META) are expected to report their fiscal Q4 and Q2 earnings, respectively, after the market closes. For Microsoft, analysts polled by FactSet expect earnings of $4.24 per share on revenue of $87.62 billion. For Meta, analysts expect earnings of $7.19 per share on revenue of $60.22 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 6.4% at $89.49 per barrel and US West Texas Intermediate crude 6.2% higher at $84.15 per barrel.The Federal Open Market Committee is expected to maintain the range for its federal funds rate at the current 3.50% to 3.75% for the fifth straight meeting, with the CME's FedWatch Tool seeing a 68.5% chance of no change to the current target range and a 31.5% chance of a 25-basis point increase to 3.75% to 4.00%.The FOMC's statement following the meeting is due to be released at 2:00 pm ET, with Federal Reserve Chairman Kevin Warsh's press conference scheduled to begin at 2:30 pm ET.In other world markets, Japan's Nikkei closed 1.5% lower, Hong Kong's Hang Seng ended 2% higher, and China's Shanghai Composite finished 0.4% higher. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.2% higher in Europe's early afternoon session.In equities, energy-related stocks were on the upswing as oil prices increased. Exxon Mobil (XOM) shares rose 2.1%, Chevron (CVX) stock was 2% higher, and TotalEnergies (TTE) shares were up 2.2%. Seagate Technology (STX) stock was up 5.7% after the company reported fiscal Q4 adjusted earnings and revenue that surpassed analysts' estimates, as well as issuing a better-than-expected fiscal Q1 outlook.On the losing side, Visa (V) shares were down 2.2% despite posting a fiscal Q3 adjusted earnings and revenue beat. Procter & Gamble (PG) stock was down 3.1% after the company reported fiscal Q4 net sales that fell short of analysts' consensus. KLA (KLAC) shares fell 8.9% despite posting fiscal Q4 non-GAAP earnings and revenue that beat analysts' estimates.

Sector Update: Energy Stocks Decline Late Afternoon

Energy stocks were lower late Tuesday afternoon, with the NYSE Energy Sector Index down 0.7% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 1%.The Philadelphia Oil Service Sector Index shed 2.8%, and the Dow Jones US Utilities Index was fractionally higher.President Donald Trump said talks with Iran were continuing and again threatened to destroy Iranian bridges and power plants if no deal is made, CNN reported. Iran's foreign ministry spokesman, Esmaeil Baghaei, said Tehran was not negotiating with the US but added that "intermediaries may convey messages from the American side to us regarding ongoing developments in the region," Al Jazeera reported.Front-month West Texas Intermediate crude oil fell 4.4% to $79.02 a barrel, and the global benchmark Brent crude contract dropped 5.1% to $83.89 a barrel. Henry Hub natural gas futures declined 4.2% to $2.65 per 1 million BTU.In corporate news, ExxonMobil (XOM) offers limited upside following its recent share-price gains, while Chevron (CVX) presents a stronger medium-term setup, BofA Securities said in a Tuesday note. BofA lowered its rating on ExxonMobil to neutral from buy while raising its price target to $158 from $154. BofA kept its buy rating on Chevron and increased its price target to $227 from $210. ExxonMobil shares shed 0.7%, and Chevron was down 0.8%.HF Sinclair (DINO) reported higher Q2 adjusted earnings and revenue, and raised its quarterly dividend. Separately, HF Sinclair said it plans to separate its Lubricants and Specialties segment into an independent publicly traded company. HF Sinclair shares were down 1.1%.CenterPoint Energy (CNP) shares rose 0.7% after its Q2 non-GAAP earnings and revenue rose year on year and beat analysts' estimates.TotalEnergies (TTE) said Tuesday that it and partner Eni (E) reached a final investment decision to develop the Cronos gas field offshore Cyprus, marking the country's first gas development project. TotalEnergies shares added 0.1%, and Eni were easing 0.4%.