Exxon Mobil, Total in negotiations over Mozambique LNG, Bloomberg reports » 15:4211/2511/25/20
Energy giants ExxonMobil…
Energy giants ExxonMobil (XOM) and Total (TOT) are in negotiations, with each looking to extract more gas from a shared field straddling "their massive LNG projects in Mozambique," wrote Reuters' Helen Reid, Emma Rumney, Stephen Jewkes. "The companies are looking to cut costs wherever they can, bruised by a COVID-19-induced collapse in global oil and gas prices and facing a worsening security situation in Mozambique," noted the Reuters' story. Reference Link
Exxon sees up to 300 job cuts in Canada by end of 2021 » 13:3211/2511/25/20
Exxon Mobil announced…
Exxon Mobil announced that as part of its ongoing global review to identify cost efficiencies and improve long-term competitiveness, staffing levels will be reduced at ExxonMobil's Canadian affiliates. It is anticipated that up to 300 positions will be impacted by the end of 2021 across the company's affiliates in Canada, which include Imperial Oil Limited, ExxonMobil Canada and ExxonMobil Business Centre Canada. "The workforce reductions result from insight gained through reorganizations and work-process changes made over the past several years. The impact of COVID-19 on the demand for ExxonMobil's products has increased the urgency of the efficiency work," Exxon said in a statement.
Exxon Mobil cuts outlook on future oil prices, WSJ reports » 08:2011/2511/25/20
Exxon Mobil has lowered…
Exxon Mobil has lowered its outlook for future oil prices for each of the next seven years by 11% to 17% as part of an internal financial-planning process, the Wall Street Journal's Christopher Matthew reports, citing internal company documents. The significant reduction signals the company expects fallout from the pandemic to linger for much of the next decade and the move comes as the fossil-fuel industry is also facing increased competition from renewable-energy sources and electric vehicles.Reference Link
Unusual call flow in option market yesterday » 07:3511/2511/25/20
Notable call activity was…
Notable call activity was cited Tuesday in Exxon Mobil (XOM) and Ideanomics (IDEX).
Exxon Mobil call volume above normal and directionally bullish » 11:0511/2411/24/20
Bullish option flow…
Bullish option flow detected in Exxon Mobil with 109,278 calls trading, 3x expected, and implied vol increasing almost 3 points to 40.81%. Jan-21 50 calls and 11/27 weekly 41 calls are the most active options, with total volume in those strikes near 16,200 contracts. The Put/Call Ratio is 0.26. Earnings are expected on February 2nd.
|Over a week ago|
Exxon Mobil put buyer realizes 82% same-day gains » 08:0011/1911/19/20
Notable profits for the…
Notable profits for the buyer who lifted the $1.12 offer for 1,060 Exxon Mobil (XOM) 11/27 weekly 39 puts yesterday at 10:34ET when underlying shares were trading at $38.52. Shares closed at $0.00, and the puts at $2.04 for a mark-to-market profit of 82%, or $97K, on the $119K outlay.
Most OPEC countries support three-month extension to oil cuts, Reuters says » 11:5511/1611/16/20
USO, BP, COP, TOT, XOM, CVX, RDS.A
OPEC and it allies ended…
OPEC and it allies ended a technical meeting with most member countries backing a three-month extension of currently oil supply cuts from January, Reuters' Alex Lawler, Ahmad Ghaddar, Olesya Astakhova, and Rania El Gamal report, citing OPEC sources. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
Exxon Mobil price target raised to $39 from $36 at Truist » 08:5911/1611/16/20
XOM, CVX, COP
Truist analyst Welles…
Truist analyst Welles Fitzpatrick raised the firm's price target on Exxon Mobil (XOM) to $39 from $36 but keeps a Hold rating on the shares. The analyst notes that the company continues to generate cost improvements and operating efficiencies in each segment, though he still anticipates it to outspend its cash flows by nearly $7B in 2021 and by over $3B in 2022. Fitzpatrick adds that Exxon Mobil's prospects would improve if the management took at least a "slight cut" in dividend payout - until then, he sees other majors such as Buy-rated Chevron (CVX) and ConocoPhillips (COP) with better leverage and growth prospects.
Exxon Mobil calls New York Times story 'biased and inaccurate' » 14:3111/1211/12/20
Exxon Mobil said the New…
Exxon Mobil said the New York Times story published on November 12 entitled "How One Firm Drove Influence Campaigns Nationwide for Big Oil" is "a biased and inaccurate misrepresentation of our relationship with trade associations and other organizations and illustrates precisely why we refused to comment or work with the author of this article." The company added: "We requested the following statement be included in the story, which the author and her editors ignored and refused to print in full: 'ExxonMobil will not work with Ms.Tabuchi because of her obvious bias against the oil and gas industry, illustrated by her baseless claim alleging industry links to white supremacy, which the New York Times has refused to address appropriately. We will engage with New York Times reporters who follow basic rules of journalism and provide fair treatment to our company and industry.'"
Notable open interest changes for November 12th » 08:5511/1211/12/20
XOM, ACB, BABA, NIO
Wednesday's total option volume of 28.3 million contracts resulted in net open interest growth of 2.91 million calls and 3.37 million puts. Exxon Mobil (XOM), Aurora Cannabis (ACB), Alibaba (BABA) and NIO (NIO) saw the greatest growth. Top five new positions opened include 52k Exxon Mobil (XOM) Dec-20 37.5 calls, 37k Exxon Mobil (XOM) Dec-20 40 puts, 32k Exxon Mobil (XOM) Dec-20 40 calls, 24k Exxon Mobil (XOM) Jan-21 40 calls and 24k Apple (AAPL) Jan-21 120 calls.