Exxon Mobil Stock Price, News & Analysis

ExxonMobil announced the results of its 2021 Annual Meeting of Shareholders, confirming the composition of its board of directors. New members include Michael Angelakis, Susan Avery, and others, while Douglas Oberhelman, Sam Palmisano, and Wan Zulkiflee will depart. CEO Darren Woods expressed gratitude to departing members and emphasized the board's commitment to enhancing shareholder value and navigating the energy transition. For more details, a Form 8-K/A will be filed with the SEC and can be accessed via ExxonMobil's investor relations website.

ExxonMobil announced a significant discovery at Longtail-3 in the Stabroek Block, offshore Guyana, which encountered 230 feet (70 meters) of high-quality hydrocarbon-bearing reservoirs. This discovery, located approximately two miles south of Longtail-1, expands the resource potential in the area. The company aims to leverage its competitive advantages in ongoing exploration with two additional drillships deployed for further evaluation. Longtail-3 complements recent discoveries at Uaru-2, potentially enhancing resource estimates in Guyana.

ExxonMobil announced preliminary results from its annual meeting held on May 26, 2021, where shareholders are expected to elect nine of its nominees and three from Engine No. 1. CEO Darren Woods emphasized the commitment to enhance long-term shareholder value and navigate towards a lower-carbon future. The nine re-elected directors include Woods and eight others, while Engine No. 1 nominees include Gregory Goff, Kaisa Hietala, and Alexander Karsner. The preliminary results await certification by the independent inspector of elections and will be detailed in a Form 8-K filing with the SEC.

ExxonMobil reported preliminary vote results from its annual meeting, indicating that shareholders have elected eight of its nominees and two from Engine No. 1. Five nominees are still pending results. Chairman Darren Woods highlighted positive shareholder engagement, particularly regarding low-carbon initiatives and cost reduction efforts. The board will also reconsider two approved shareholder proposals on lobbying and climate lobbying. These preliminary results remain subject to certification by the Independent Inspector of Elections.

Exxon Mobil Corporation (NYSE:XOM) reported a strong first quarter 2021 with earnings of $2.7 billion, or $0.64 per share, a significant recovery from a loss of $610 million in Q1 2020. The company’s capital expenditures were $3.1 billion, down $4 billion from the previous year. Oil-equivalent production rose to 3.8 million barrels per day, aided by higher commodity prices. Operational cash flow fully supported dividends and capital investments. However, severe winter weather in Texas impacted Q1 earnings by nearly $600 million. ExxonMobil also launched its new Low Carbon Solutions business aimed at advancing carbon capture technologies.

Exxon Mobil Corporation (NYSE:XOM) announced a cash dividend of $0.87 per share on its Common Stock, payable on June 10, 2021, to shareholders of record by May 13, 2021. This dividend remains consistent with the first quarter of 2021, reflecting the company's ongoing commitment to return value to its shareholders. ExxonMobil has a long history of sharing success with its investors, having consistently paid dividends for over 100 years.

ExxonMobil announced an oil discovery at the Uaru-2 well in the Stabroek Block, offshore Guyana, enhancing its previously estimated recoverable resources of approximately 9 billion oil-equivalent barrels. The Uaru-2 well encountered 120 feet of high-quality oil-bearing reservoirs at a water depth of 5,659 feet. With plans for at least six projects by 2027, ExxonMobil continues to invest in Guyana's economy, having spent approximately US$388 million with over 800 local companies since 2015. The anticipated start-up of the Liza Phase 2 project is on target for 2022.

ExxonMobil has released an investor presentation outlining its strategy focused on increasing earnings, maintaining dividends, reducing debt, and investing in lower-emission technologies. The company is committed to enhancing its Low Carbon Solutions business, which includes carbon capture and storage, hydrogen, and biofuels, aiming to tap into multi-trillion dollar markets by 2040. ExxonMobil reported a 52% total shareholder return over the past year, outperforming peers in terms of capital returns and dividend growth.

Exxon Mobil Corporation (NYSE:XOM) will announce its first quarter 2021 financial results on April 30, 2021, at 6:30 a.m. CT. The results will be available via a press release on www.exxonmobil.com. Following the release, a conference call hosted by Darren Woods, CEO, and Stephen Littleton, VP of Investor Relations, will take place at 8:30 a.m. CT. Investors can access the call through a webcast or by phone. An archive will be accessible post-event.