Exxon Mobil doesn't plan to cut its natural gas spending any time soon, meaning reduced cash flow and limited upside to the stock over the next 12 months, Cowen told its clients Friday.
"Exxon Mobil's counter-cyclical investment decision may look prescient in future years, but we do not believe the investor community is willing to place that same bet today and are downgrading the stock as a result," Gabelman wrote in a note. The analyst also cut his 12-month price target to $75 from $100, a 25 percent reduction that implies the stock will fall 6 percent over the next year.
Exxon expects its capital spending to grow by $4 billion this year, to $30 billion. Next year, the company expects to spend $33 billion to $35 billion, and $30 billion to $35 billion in the following years through 2025.
I will continue to enjoy my 4.5% dividend -Exxon Mobil makes money and they are investing in their business for the future, plus making some big gas and oil finds.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves midday: Costco, Exxon Mobil, Vail Resorts & moreThese are the stocks posting the largest moves midday Friday.
Source: CNBC - 🏆 12. / 72 Read more »
Exxon Mobil shares slump as the oil major tells investors to brace for higher spending'Below $35, we're going to be profitable,' Exxon Mobile CEO Darren Woods discusses the company's most recent financial guidance and its Permian Basin investment.
Source: CNBC - 🏆 12. / 72 Read more »
Exxon Mobil CEO sets plan to boost spending; shares slideExxon Mobil Corp plans to boost capital spending for several years, CEO Darren W... The stock went down 1%. That’s not a big deal. He is a half Rex Tillerson and a quarter Lee Raymond yet they pay him more than both on an inflation adjusted basis and massively more on an absolute basis.
Source: Reuters - 🏆 2. / 97 Read more »
Exxon Mobil says its profit and cash flow outlook is better than it was last yearExxon Mobil expects profit to grow by $4 billion this year and forecasts its earnings potential through 2025 is better than previously forecast. Yea, I trust them. Not.
Source: CNBC - 🏆 12. / 72 Read more »
Exxon Mobil CEO sets plan to boost spending; shares sinkExxon Mobil Corp said on Wednesday it plans to open its wallet and boost spendin... SushmaSwaraj ji as next PM of India RafaleFilesStolen
Source: Reuters - 🏆 2. / 97 Read more »
Exxon Mobil sees 2020 capex rising by up to 16 percentExxon Mobil Corp said on Wednesday it plans to open its wallet and increase capi... aoc,s favorite company Does this depend on Venezuela ?
Source: Reuters - 🏆 2. / 97 Read more »
Exxon Mobil settles with U.S. over Texas refinery fire in 2013The U.S. Justice Department and Exxon Mobil Corp have reached a settlement resol... I’m sure this settlement will be investigated in the future.
Source: Reuters - 🏆 2. / 97 Read more »
Chevron, Exxon Mobil Tighten Their Grip on FrackingChevron expects to more than double its production in the oil field at the heart of the American fracking boom, the latest sign that the next era of shale is likely to be led by the major oil companies. Good I was never a fan of man-made earthquakes. On Venezuela you said?
Source: WSJ - 🏆 98. / 63 Read more »
Support for the Green New Deal could soon waver, says Exxon Mobil CEO. Here's whyPeople's views on Rep. Alexandria Ocasio-Cortez's Green New Deal may change as the plan becomes more detailed, says Exxon Mobil CEO Darren Woods. The best way to 'End Poverty,' is to make a big sign and march around. Yep, that ought to do it. Because it’s a pipe dream from the Job killer The Green New Deal is a terrific idea in theory but how they wish to execute and fund this 'deal' is un-American to its core.
Source: CNBC - 🏆 12. / 72 Read more »
Chevron, Exxon take turns wooing investors with shale boastsThe two biggest U.S. oil companies tried to outdo each other on Tuesday, boastin... You can taste the profits - same as that nasty water you going to get out of the tap hen they start the fracking. Too bad they don't take turns wooing the common person. Who is really in charge and why?
Source: Reuters - 🏆 2. / 97 Read more »