Scott Sheffield, CEO of Pioneer Natural Resources. Adam Jeffery | CNBC The Federal Trade Commission on Thursday accused the former Pioneer Natural Resources CEO of colluding with OPEC to raise prices, and barred him from serving on the Exxon Mobil board of directors once its planned $65 billion acquisition of Pioneer closes. The FTC filed … Read more
A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters The Federal Trade Commission will wave through Exxon Mobil‘s roughly $60 billion acquisition of Pioneer Natural Resources after reaching an agreement with the energy giant, a source familiar with the matter told CNBC. The FTC will not block the deal now … Read more
An Exxon Mobil gas station in Washington, DC, US, on Tuesday, Nov. 28, 203. Bloomberg | Bloomberg | Getty Images Exxon Mobil reported quarterly earnings that beat Wall Street’s expectations, but the company’s profit declined significantly from same period the year prior as oil prices weakened. Exxon declared a dividend for the first quarter of … Read more
During the January Monthly Meeting this past Wednesday, we took questions directly from Investing Club members. Here are Jim Cramer’s and Director of Portfolio Analysis Jeff Marks’ responses. Their answers have been edited for clarity. 1. What is a good entry point for Eaton ? It doesn’t seem to want to go down! (Brian) Jim … Read more
Another Wall Street analyst has thrown their support behind Coterra Energy , adding to Jim Cramer’s belief that the oil and gas producer is a stock to watch in the new year. Bank of America on Friday upgraded Coterra to buy from a hold-equivalent rating, becoming the fourth research firm in less than a month … Read more
The 10 things to watch Wednesday, Dec. 6 1. U.S. stocks are higher in premarket trading Wednesday, with S & P 500 futures up 0.45% after back-to-back days of losses. The move comes amid increasing signs the labor market is loosening, suggesting the Federal Reserve’s interest-rate hikes are succeeding in cooling the economy. U.S. private … Read more
Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., Brendan McDermid | Reuters Exxon Mobil said Wednesday its expects earnings to more than double through 2027 relative to 2019 as the energy giant moves forward with a slew of cost-cutting measures. Exxon said it’s on track to grow its earnings and cash flow … Read more
Darren Woods, CEO of ExxonMobil, speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2023. Brendan Mcdermid | Reuters Exxon Mobil CEO Darren Woods on Thursday dismissed worries that the Federal Trade Commission could hold up the oil giant’s pending acquisition … Read more
Bloomberg/Contributor | Bloomberg | Getty Images Shares of Australia’s Santos jumped to a five-week high on Friday on news the company is in talks to merge with Woodside Energy. Santos and Woodside Energy, two of Australia’s largest oil and gas producers, have opened talks to discuss a potential merger in what could create an 80 … Read more
Occidental Petroleum on Monday agreed to buy CrownRock, a major privately held energy producer that operates in the Permian Basin, for $12 billion. The deal is latest in a spate of consolidation in the U.S .energy sector, particularly in the Permian, the largest oil-producing region in the U.S. The transaction is expected to close in … Read more
