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Company Update: Exxon Mobil Corporation (NYSE:XOM) – Exxon Mobil exports first cargo of offshore Gulf of Mexico crude

[Reuters] – Exxon Mobil is shipping a cargo of crude produced from its deepwater Julia field in the Gulf of Mexico to its refinery in Rotterdam, Netherlands, marking the first export of offshore oil to leave a U.S. port since a ban was lifted. The crude came from initial well tests conducted on the Julia project, Aaron Stryk, a company spokesman, said in an emailed statement on Thursday. The oil company is sending a modest 18,000 barrels of oil on a Panamax tanker, the PGC Marina, according to a bill of lading published at Bloomberg terminals and Thomson Reuters vessel tracking data. Read more on this. Exxon Mobil Corporation (XOM) , valued at $354.82B, started trading this morning at $85.00. Looking at today’s trading action, the company’s one day range from $84.76 to $85.90 and has traded between $66.55 and $90.09 over the past year. Exxon (XOM) shares are currently priced at 35.94x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -4.79x earnings multiple for the same period. The company pays shareholders $2.92 per share annually in dividends, yielding 3.50%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.32 per share, which would be $0.85 worse than the year-ago quarter and a $0.30 sequential decrease. Investors should also note that the full-year EPS estimate of $2.36 is a $1.49 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 $47.05 Billion. If realized, that would be a 30.42% decrease over the year-ago quarter. More recently, Nomura Initiated XOM at Reduce (Mar 18, 2016). Previously, Tudor Pickering downgraded XOM from Hold to Sell. Investors should keep in mind is that the average price target is $81.11, which is 4.58% below where the stock 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 Market Update: Exxon Mobil Corporation (NYSE:XOM) – Exxon Mobil Corporation Declares First Quarter Dividend Market Update: Exxon Mobil Corporation (NYSE:XOM) – Rosneft, Exxon, Eni, Sasol win exploration rights in Mozambique
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