Breaking News Bar

Business News and Information

Stock Update (NYSE:XOM): Probe of Exxon’s climate change disclosures expands

[Reuters] – The attorneys general of Massachusetts and the U.S. Virgin Islands said on Tuesday they will investigate whether Exxon Mobil Corp misled investors and the public about the risks of climate change, joining counterparts in New York and California. The announcements come just a few months after New York Attorney General Eric Schneiderman subpoenaed Exxon to demand extensive financial records and emails in connection with its climate change disclosures. California Attorney General Kamala Harris followed suit in January, when she confirmed she was also investigating Exxon over the issue. Read more on this. Exxon Mobil Corporation (XOM) , with a current value of $351.03B, started trading this morning at $83.67. A quick look at the market, the company’s stock traded between $83.16 and $84.62 with a one year range of $66.55 to $90.09. XOM shares are currently priced at 35.84x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 0.87x forward p/e ratio. The company pays shareholders $2.92 per share annually in dividends, yielding 3.48%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $0.33 per share, which would be $0.84 worse than the year-ago quarter and a $0.43 sequential decrease. Investors should also note that the full-year EPS estimate of $2.35 is a $1.50 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $48.02 Billion. If realized, that would be a 28.99% decrease over the year-ago quarter. In terms of ratings, Nomura Initiated XOM at Reduce (Mar 18, 2016). Previously, Tudor Pickering downgraded XOM from Hold to Sell. Given all the information above, we should disclose to readers that the average price target is $80.52, which is 3.76% below than it opened this morning. See more in (NYSE:XOM) Similar Articles: Market Update: Exxon Mobil Corporation (NYSE:XOM) – Exxon Mobil must allow climate change vote -SEC Company Update (NYSE:XOM): Exclusive: New York asks SEC to force climate vote onto Exxon proxy Market Update (NYSE:XOM): New York investigating Exxon over climate statements -source
Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
bottom clear