Exxon Mobil Corporation ($XOM) Stock Forecast: Down 5.2% Today

What is Exxon Mobil Corporation?

ExxonMobil (XOM) is a multinational oil and gas corporation and one of the largest publicly traded companies in the world. It operates in all sectors of the oil and gas industry, including exploration, production, refining, and marketing.

Why is Exxon Mobil Corporation going down?

XOM stock is down 5.2% on Oct 11, 2023 16:02

• The bearish movement in XOM's stock today can be attributed to the following factors:
• 1. Acquisition Deal: ExxonMobil's announcement of a $59.5 billion all-stock deal to acquire Pioneer Natural Resources could have caused a negative sentiment among investors. Such large-scale acquisitions often raise concerns about the financial implications and potential integration challenges.
• 2. Dominance in US Oilfields: The acquisition of Pioneer Natural Resources would make ExxonMobil the largest producer in the largest U.S. oilfield. While this may seem like a positive development, the market might be reacting to the potential risks associated with such dominance, including regulatory scrutiny and increased competition.
• 3. Geopolitical Tensions: The CEO of Pioneer Natural Resources, Scott Sheffield, mentioned that oil prices could surge if Iran enters the war between Israel and Hamas. Geopolitical tensions and the potential disruption of global crude supplies can create uncertainty in the oil market, impacting the stock price of oil companies like ExxonMobil.
• 4. Market Reaction: The market's response to the acquisition deal and the overall geopolitical situation might have led to a bearish sentiment, causing a decline in XOM's stock price.
• Overall, the bearish movement in XOM's stock today can be attributed to concerns surrounding the acquisition deal, potential risks of dominance in the US oilfields, and geopolitical tensions impacting the oil market.

XOM Price Chart

XOM News

ExxonMobil announces all-stock deal to acquire Pioneer for $59.5 billion

https://www.investing.com/news/stock-market-news/exxonmobil-to-buy-pioneer-for-60-billion-in-allstock-deal--reports-432SI-3195614

https://www.investing.com/news/stock-market-news/exxonmobil-to-buy-pioneer-for-60-billion-in-allstock-deal--reports-432SI-3195614

Exxon Buys Pioneer Energy For $60 Billion To Dominate US Oilfields

(CTN News) – A $59.5 billion deal between Exxon Mobil and Pioneer Natural Resources would make Exxon Mobil the largest producer in the largest U.S. oilfield and ensure the company a decade of low-cost production. Combining the largest U.S. oil company with one of the most successful names to emerge from the shale revolution has […]

https://www.chiangraitimes.com/tech/exxon-buys-pioneer-energy-60-billion/

Pioneer Natural Resources’ Scott Sheffield says oil prices could surge if Iran enters the war

The post Pioneer Natural Resources’ Scott Sheffield says oil prices could surge if Iran enters the war appeared on BitcoinEthereumNews.com . Scott Sheffield, CEO of Pioneer Natural Resources. Adam Jeffery | CNBC Pioneer Natural Resources CEO Scott Sheffield said oil prices could move a lot higher if Iran gets involved in Hamas’ war on Israel. “If Iran enters the war, we’re going to see much higher oil prices, obviously,” Sheffield said on CNBC’s “Squawk Box” Wednesday. Iran is a major oil producer and key backer of Hamas, the Palestinian Islamist group designated by the U.S. as a terrorist organization. A wider conflict could pose a major threat to global crude supplies, which have been cut back by Saudi Arabia and Russia in recent months. Brent crude traded slightly lower to $86.93 a barrel Wednesday, while the U.S. West Texas Intermediate (WTI) crude fell by 78 cents, or 0.91%, to $85.19. Brent and WTI had surged more than $3.50 on Monday on concern that the clash between Israel and Hamas could escalate into a broader conflict.

https://bitcoinethereumnews.com/finance/pioneer-natural-resources-scott-sheffield-says-oil-prices-could-surge-if-iran-enters-the-war/

Exxon pushes deeper into top US oilfield with $60 billion deal for Pioneer

https://www.investing.com/news/stock-market-news/exxon-pushes-deeper-into-top-us-oilfield-with-60-billion-deal-for-pioneer-3196175

https://www.investing.com/news/stock-market-news/exxon-pushes-deeper-into-top-us-oilfield-with-60-billion-deal-for-pioneer-3196175

ExxonMobil merger with Pioneer Natural Resources

Exxon Mobil announces it will buy Pioneer Natural Resources in a $59.5 billion deal.

https://www.weeklytimesnow.com.au/nocookies?a=A.flavipes

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Exxon Mobil Corporation Price History

26.05.2023 - XOM Stock was up 1.3%

• Exxon Mobil Co. (NYSE:XOM) had a strong bullish movement today.
• The increase in holdings and stake by Lion Street Advisors LLC, National Bank of Canada FI, Transcend Capital Advisors LLC, and IronBridge Private Wealth LLC may have contributed to the bullish movement.
• The recent drop in energy stocks and the potential rise in demand for energy may have also played a role in the bullish movement.
• Investors seeking reasonable valuations, slow and steady growth, and healthy yield may find Exxon Mobil Co. (NYSE:XOM) to be a good investment option.