Currently, the stock market is hitting its limits caused by rising bond yields, the rising exchange value of the US dollar (USD) and geopolitical uncertainty stemming first from the war between Russia and Ukraine, and now from rising tensions in the Middle East following the outbreak of the war between Palestine and Israel . However, it is this tension in the area with the most abundant oil production in the Middle East that causes considerable concern with the expansion of this Palestinian-Israeli conflict and the subsequent increase in oil prices on the world market under the influence of insufficient supply to meet demand, and for this reason, analysts predict a strong potential for growth in the prices of mining stocks and oil refining companies. Exxon Mobil Corp.’s shares also belong to one such fire, according to reports from economic correspondents in connection with financial strategists of the stock market. (NYSE-XOM), which are traded on the traditional Wall Street stock exchange in New York on the main US stock market NYSE (New York Stock Exchange).
Shares of this company Exxcon Mobil Corp. (NYSE-XOM) closed yesterday’s trading day on November 8, 2023 at $102.93 per share with a daily decrease of -1.23% of its price, this decrease in stock price according to brokerage firm analysts is related to overall decrease oil prices on the world commodity market. However, currently during the European afternoon of Thursday 9/11/2023, at approximately 14:01 CET, these shares of Exxcon Mobil Corp. (NYSE-XOM) traded at a price of $103.64 per share in the pre-trade phase with a +0.69% increase in its price so far. According to technical analysis data presented by economic correspondents in connection with investment banker analysts, the price of this NYSE-XOM stock has so far shown a total annual loss of -6.68% over the last 52 weeks, while the current dividend yield represents for holders of this NYSE-XOM stock a yield of 3.69 percent at the last trading day’s share price of $3.80 per share. Taking into account global financial market developments along with geopolitical contexts, stock market financial strategists currently give an average target price of $129.53 per share for this NYSE-XOM stock.
Exxon Mobil Corporation is an international energy and petrochemical company. The company’s main activities include Upstream, Product Solutions and Low Carbon Solutions. Its Upstream division engages in the exploration and development of oil and natural gas using technology. Its Product Solutions division works to reduce greenhouse gas emissions and plastic waste by developing more sustainable products such as lower emission fuels, chemical products, lubricants and plastics. Its Low Carbon Solutions segment focuses on commercializing lower-emission business opportunities in carbon capture and storage, hydrogen and lower-emission fuels. Exxon Mobil Corporation owns and operates a carbon dioxide (CO2) pipeline network of more than 1,300 miles in the United States, including nearly 925 miles of CO2 pipelines in Louisiana, Texas and Mississippi. It also includes Gulf Coast and Rocky Mountain oil and gas production. It also has more than 15 offshore CO2 storage facilities.