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Company Update (NYSE:XOM): ExxonMobil Starts Production at Julia Oil Field in the Gulf of Mexico

[Business Wire] – Oil production has started under budget and ahead of schedule at the Julia oil field in the Gulf of Mexico, Exxon Mobil Corporation said today. The first production well is now online and a second well will start production in the coming weeks. Read more on this. Exxon Mobil Corporation (XOM) , with a current market cap of $356.79B, started the session at $85.85. Looking at the stock, its one day range is $85.22 to $86.16 with its 52-week range being $66.55 to $90.09. XOM shares are currently priced at 36.66x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -1.75x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.92 per share annually in dividends, yielding 3.44%. According to a consensus of 19 analysts, the earnings estimate of $0.31 per share would be $0.86 worse than the year-ago quarter and a $0.26 sequential decrease. The full-year EPS estimate is $2.34, which would be a $1.51 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $48.09 Billion. If reported, that would be a 28.88% decrease over the year-ago quarter. Recently, Nomura Initiated XOM at Reduce (Mar 18, 2016). Previously, Tudor Pickering downgraded XOM from Hold to Sell. When considering if perhaps the stock is under or overvalued, the average price target is $81.39, which is 5.20% below where the stock opened this morning. See more in (NYSE:XOM) Similar Articles: Company Update: Exxon Mobil Corporation (NYSE:XOM) – Exxon Mobil exports first cargo of offshore Gulf of Mexico crude Company Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil Employees Spark Girls’ Interest in Engineering Market Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil Announces 2015 Reserves Additions
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