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MarketScreener Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

EXXON MOBIL CORPORATION

(XOM)
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Trump to Meet With Oil CEOs about Helping Industry

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04/01/2020 | 05:44pm EDT

By Christopher M. Matthews and Timothy Puko

President Trump is set to meet Friday with the heads of some of the largest U.S. oil companies to discuss government measures to help the industry weather an unprecedented oil crash, people familiar with the matter said.

The meeting is to take place at the White House and will include Exxon Mobil Corp. Chief Executive Darren Woods, Chevron Corp. Chief Executive Mike Wirth, Occidental Petroleum Corp. Chief Executive Vicki Hollub and Harold Hamm, executive chairman of Continental Resources Inc., the people said.

The U.S. oil and gas industry has been pummeled recently by the dual shock of plummeting oil demand because of the coronavirus pandemic and surging supply as Russia and Saudi Arabia are locked in a price war and flood the market with crude.

Oil prices plunged this week to just above $20 a barrel, the lowest level in nearly two decades.

Mr. Trump and the executives are set to discuss potential aid to the industry, including tariffs on oil imports into the U.S. from Saudi Arabia, and a waiver of a law that requires American vessels be used to transport goods, including oil, between U.S. ports, according to two of the people.

But the oil industry isn't unified in its support for some of the measures, the people familiar with the matter said. Only Mr. Hamm supports oil tariffs, according to the people. A temporary waiver of the Jones Act, which would allow U.S. ships to transport oil around the country, could represent a compromise and earn the backing of the other companies, one of the people said.

Such a waiver would allow U.S. oil to be shipped from the petrochemical hub on the Gulf Coast to markets on the East Coast and Washington state, which are currently being flooded with imports from Saudi Arabia. The U.S. has previously granted such waivers, typically for about 10 days, during other emergencies.

 

Stocks mentioned in the article
ChangeLast1st jan.
CHEVRON CORPORATION -1.91% 90.28 Delayed Quote.-25.09%
CONTINENTAL RESOURCES, INC. 1.15% 14.04 Delayed Quote.-59.07%
DUAL CO., LTD. 1.30% 2720 End-of-day quote.-13.38%
EXXON MOBIL CORPORATION 0.09% 44.6 Delayed Quote.-36.08%
OCCIDENTAL PETROLEUM CORPORATION -0.84% 14.13 Delayed Quote.-65.71%
WTI 0.55% 34.071 Delayed Quote.-44.63%
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Financials (USD)
Sales 2020 173 B
EBIT 2020 238 M
Net income 2020 -2 670 M
Debt 2020 59 122 M
Yield 2020 7,82%
P/E ratio 2020 -74,7x
P/E ratio 2021 36,1x
EV / Sales2020 1,44x
EV / Sales2021 1,26x
Capitalization 189 B
Chart EXXON MOBIL CORPORATION
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Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | MarketScreener
Technical analysis trends EXXON MOBIL CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 47,71 $
Last Close Price 44,60 $
Spread / Highest target 65,9%
Spread / Average Target 6,98%
Spread / Lowest Target -23,8%
EPS Revisions
Managers
NameTitle
Darren W. Woods Chairman & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
Kenneth C. Frazier Independent Director
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PTT-17.61%32 000