Analysts at Wall Street s biggest banks say ExxonMobil is well-placed to gain from this year s recovery in commodity prices.
(Bloomberg) Analysts at Wall Street’s biggest banks say now’s the time to buy Exxon Mobil Corp. as rallying oil and gas prices increase the chances of the company being able to keep its highly prized dividend, the third-highest in the S&P 500 Index.
JPMorgan Chase & Co. on Wednesday joined Morgan Stanley, Goldman Sachs Group Inc. and Well Fargo & Co. in upgrading Exxon to ‘buy’ in recent weeks. Years of underperformance have left the stock trading at low valuations compared with peers, leaving it well-placed to gain from this year’s recovery in commodity prices, they said.
Exxon Holds Back on Technology That Could Slow Climate Change
By
January 8, 2021
(Bloomberg) Elk and pronghorn antelope migrate each fall through southern Wyoming, where the sparsely vegetated landscape slowly gives way to the foothills of the Rocky Mountains. Interrupting this serene vista is a dense web of steel pipes, tanks, and pumps owned by Exxon Mobil Corp.
The industrial complex provides a clue about what lies beneath: an ancient sea of coral and marine life, petrified by time and pressure into a thick layer of rock. Known as the Madison formation, this geologic structure is miles wide and reaches more than 10 Empire State Buildings below the ground. It contains natural gas, helium, and carbon dioxide. Two of these gases are consistently valuable to Exxon’s business. The third is not and that’s a problem for everyone on the planet.
Governors Wind Energy Coalition
Exxon Sets New Emissions Goals Following Investor Criticism Source: By Kevin Crowley, Bloomberg • Posted: Tuesday, December 15, 2020
The Esso Fawley Oil Refinery, operated by Exxon Mobil Corp. in Fawley, U.K. Photographer: Luke MacGregor/Bloomberg
Exxon Mobil Corp. entered 2020 with a multiyear growth plan projected to significantly increase its greenhouse-gas emissions. Then came Covid-19 and criticism from activist investors over its record on climate and financial returns.
Now the year will end with Exxon setting new, more ambitious targets to reduce emissions per barrel of oil and disclose, for the first time, data on pollution related to customers’ use of its fuels.