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XOM

Exxon Mobil

$76.04

-0.64 (-0.83%)

19:01
12/12/18
12/12
19:01
12/12/18
19:01

Exxon makes final investment decision to develop West Barracouta gas project

ExxonMobil said that it has made a final investment decision to develop the West Barracouta gas field in Bass Strait to bring new gas supplies to the Australian domestic market. The project, located in the VIC/L1 block offshore Victoria, is part of the company's continuing investment in the Gippsland Basin. The company recently completed front-end engineering design work for the project, which is part of the Esso-BHP Gippsland Basin Joint Venture, and awarded contracts to Subsea 7 and OneSubsea, a Schlumberger company. The project will be tied back to the existing Barracouta infrastructure offshore in Bass Strait, the first offshore field ever discovered in Australia. The Gippsland Basin Joint Venture continues to supply about 40% of east coast Australian domestic gas demand. The new project builds on more than $4B invested by the Gippsland Basin Joint Venture in other recent projects in Victoria to supply Australian domestic gas demand, including the Kipper Tuna Turrum offshore project and the Longford Gas Conditioning Plant.

XOM Exxon Mobil
$76.04

-0.64 (-0.83%)

11/26/18
WOLF
11/26/18
UPGRADE
WOLF
Outperform
Exxon Mobil upgraded to Outperform from Peer Perform at Wolfe Research
11/20/18
11/20/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Exxon Mobil (XOM) downgraded to Underperform from Market Perform at Raymond James with analyst Pavel Molchanov saying Exxon Mobil is "one of the least appealing ways to play" the firm's bullish oil call, particularly following the recent oil price selloff. 2. Skyworks (SWKS) downgraded to Underperform from Neutral at BofA/Merrill with analyst Vivek Arya citing limited content gains in 2019 iPhones. 3. Micron (MU) downgraded two notches to Underperform from Outperform at Baird with analyst Tristan Gerra saying he now models eight consecutive quarters of gross margin and EPS contraction given the continued deterioration in both DRAM and NAND memory pricing. 4. Nvidia (NVDA) downgraded to Underperform from Neutral at Exane BNP Paribas. 5. Western Digital (WDC) downgraded to Neutral from Positive at Susquehanna with analyst Mehdi Hosseini saying he has lost confidence in the company's ability to benefit from SSD substitution of HDDs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/20/18
11/20/18
DOWNGRADE

Underperform
Exxon Mobil downgraded to Underperform at Raymond James
As previously reported, Raymond James downgraded Exxon Mobil to Underperform from Market Perform. Analyst Pavel Molchanov said Exxon Mobil is "one of the least appealing ways to play" the firm's bullish oil call, particularly following the recent oil price selloff. Molchanov believes Exxon shares will be a source of funds and notes free cash flow yield is below peer group median and is the only supermajor that is not returning capital to shareholders through buybacks.
11/20/18
RAJA
11/20/18
DOWNGRADE
RAJA
Underperform
Exxon Mobil downgraded to Underperform from Market Perform at Raymond James

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GM

General Motors

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LYFT

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USFD

US Foods

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COST

Costco

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$NSD

NASDAQ Market Internals

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FOX

Fox Corp.

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$NYE

NYSE Market Internals

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WE

We Company

$0.00

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RDS.A

Royal Dutch Shell

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VKTX

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CNPOF

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CHGG

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FB

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GOOG

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