Ultime notizie per Exxon Mobil (NYSE:XOM) Azioni

Exxon Mobil

ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At the end of 2023, reserves were 16.9 billion barrels of oil equivalent, 66% of which were liquids. The company is one of the world's largest refiners with a total global refining capacity of 4.5 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.

Exxon Mobil Corp

XOMA Royalty Corp

XOMA Royalty Corporation - Depositary Shares Rep Series B 8.375% Cumulative Preferred Stock

XOMA Royalty Corporation - 8.625% Series A Cumulative Perpetual Preferred Stock

Tidal ETF Trust II YieldMax XOM Option Income Strategy ETF

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) plans to invest over $200 million to expand advanced recycling operations at its Baytown <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42109739/exxonmobil-to-expand-advanced-recycling-capacity" rel="noreferrer noopener">and Beaumont facilities in Texas</a>.
The expansions, set to begin in 2026, aim to boost recycling rates and reduce plastic waste in landfills.
The company also intends to add more units to achieve a global recycling capacity of 1 billion pounds annually by 2027.
ExxonMobil's investment will add 350 million pounds of advanced recycling capacity annually at its Baytown and Beaumont facilities, increasing its total capacity to 500 million pounds per year.
The company aims to develop additional projects across North America, Europe, and Asia, targeting 1 billion pounds of global recycling capacity by 2027.
This process complements traditional recycling by converting plastic waste into raw materials for products like fuels, lubricants, chemicals, and plastics, effectively addressing waste that mechanical recycling cannot process.
ExxonMobil&#8217;s first advanced recycling facility in Baytown, launched in 2022, is among the largest in North America, processing over 70 million pounds of plastic waste as of October 2024.
Karen McKee, president of ExxonMobil Product Solutions, said, &#8220;At our Baytown site, we&#8217;ve proven advanced recycling works at scale, which gives us confidence in our ambition to provide the capacity to process more than 1 billion pounds of plastic per year around the world.&#8221;
&#8220;The world&#8217;s plastic waste challenge will be solved with innovation, collaboration, and supportive government policy to improve waste management and circularity.&#8221;
Yesterday, the company inked a non-binding MOU for a multiyear agreement with&nbsp;LG Chem, a&nbsp;chemical company with a&nbsp;<a target="_blank" href="https://www.benzinga.com/news/contracts/24/11/42087743/exxon-mobils-lithium-leap-100000-metric-tons-to-fuel-lg-chems-us-plant" rel="noreferrer noopener">diversified business portfolio</a>.
ExxonMobil will supply up to 100,000 metric tons of lithium carbonate from its planned U.S. project to LG Chem's upcoming cathode plant in Tennessee, which is set to be the largest in the U.S.
Investors can gain exposure to XOM via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and&nbsp;Vanguard Energy Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>).
Price Action: XOM shares are up 1.63% at $122.28 at the last check Thursday.
Photo: Del Henderson Jr. via Shutterstock
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Equities

Large Cap

News

DRLL

ExxonMobil Plans $200 Million Expansion To Tackle Plastic Waste: Details

ExxonMobil Announces $200M Investment To Expand Advanced Recycling Operations In Texas, Targeting 1 Billion Pounds Annual Capacity By 2027 With Additional Units Planned Globally

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) inked a non-binding MOU for a multiyear agreement with LG Chem, a chemical company with a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42083477/lg-chem-and-exxonmobil-sign-mou-for-lithium-offtake" rel="noreferrer noopener">diversified business portfolio</a>.
According to this, ExxonMobil will supply up to 100,000 metric tons of lithium carbonate from its planned U.S. project to LG Chem&#8217;s upcoming cathode plant in Tennessee, which is set to be the largest in the U.S.
LG Chem&#8217;s Tennessee cathode plant, which began construction in December 2023, is projected to produce 60,000 tons annually.
The facility&#8217;s strategic location ensures efficient customer deliveries and raw material imports.
The final investment decision will depend on establishing commercially viable regulatory frameworks.
ExxonMobil plans to produce Mobil Lithium using Direct Lithium Extraction (DLE) technology, leveraging its expertise in exploration, drilling, and chemical processing.
This method provides U.S. EV battery manufacturers with a domestic lithium supply option, which is expected to reduce environmental impact with about two-thirds lower carbon intensity compared to hard rock mining.
Shin Hak-cheol, CEO of LG Chem, said, &#8220;Building a lithium supply chain with ExxonMobil, one of the world&#8217;s largest energy companies, holds great significance.&#8221;
&#8220;We will continue to strengthen LG Chem&#8217;s competitiveness in the global supply chain for critical minerals.&#8221;
This month, Exxon Mobil reportedly planned to sell conventional Permian Basin assets for $1 billion,<a target="_blank" href="https://www.benzinga.com/news/asset-sales/24/11/41914956/exxon-mobil-sells-1-billion-in-permian-basin-assets-to-focus-on-shale-report" rel="noreferrer noopener"> producing ~26,000 BOE per day</a>.
Investors can gain exposure to XOM via&nbsp;EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and Vanguard Energy Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>).
Price Action: XOM shares are up 0.38% at $119.08 premarket at the last check Wednesday.
Photo via Midjourney
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/42011906/exxon-mobil-set-to-cut-400-texas-jobs-after-pioneer-deal" target="_blank" rel="noreferrer noopener">Exxon Mobil To Cut 400 Texas Jobs In Stages Through 2026</a></li>
</ul>

Contracts

Exxon Mobil's Lithium Leap: 100,000 Metric Tons To Fuel LG Chem's US Plant

Exxon Mobil Corporation And LG Chem Have Signed A Non-binding Memorandum Of Understanding For A Multiyear Offtake Agreement For Up To 100,000 Metric Tons Of Lithium Carbonate

TD Cowen analyst Jason Gabelman maintains Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) with a Buy and raises the price target from $127 to $132.

Price Target

Analyst Ratings

TD Cowen Maintains Buy on Exxon Mobil, Raises Price Target to $132

WIIM

FANG

SHEL

Shares of energy and oil stocks are trading higher amid a rise in the price of oil, which gained on Russia-Ukraine tensions and a Norway oilfield shutdown.

Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading higher by around 4% to $119.65 in November. The stock has seen an uptick following Donald Trump's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">presidential election win</a>, as investors anticipate that his pro-energy policies could benefit the oil and gas giant. 
What To Know: Trump's commitment to scaling back environmental regulations and promoting U.S. energy independence could reduce compliance costs for Exxon Mobil and create opportunities for expanded domestic oil and gas production. 
Policies favoring fossil fuels, such as reduced restrictions on drilling and exploration, could bolster Exxon's upstream operations and increase output.
Additionally, Trump's potential withdrawal from international climate agreements, such as the Paris Accord, could shift focus away from renewable energy policies, giving traditional energy companies like Exxon a competitive edge in the near term. 
Trump has also indicated a willingness to relax sanctions on oil-exporting countries like Russia, which could stabilize global oil markets and provide more predictable conditions for Exxon's international operations.
Moreover, Trump's emphasis on infrastructure spending could drive increased demand for petroleum products and natural gas, both critical components of construction and manufacturing. Inflationary pressures resulting from Trump's economic policies may also elevate oil prices, boosting Exxon's revenues.
Read Also: <a href="https://www.benzinga.com/24/11/42011906/exxon-mobil-set-to-cut-400-texas-jobs-after-pioneer-deal">Exxon Mobil To Cut 400 Texas Jobs In Stages Through 2026</a>
<h2 class="wp-block-heading">Is XOM A Good Stock To Buy?</h2>
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Exxon Mobil has reported average annual revenue growth of 18.04% over the past 5 years. .
It's also important to pay attention to valuation when deciding whether to buy a stock. Exxon Mobil has a forward P/E ratio of 13.37. This means investors are paying $13.37 for each dollar of expected earnings in the future. The average forward P/E ratio of Exxon Mobil's peers is 8.11.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out <a href="https://pro.benzinga.com">Benzinga PRO</a>.
XOM has a 52-week high of $126.34 and a 52-week low of $95.77.

What's Going On With Exxon Mobil (XOM) Stock?

Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is set to lay off nearly 400 employees in Texas, <a href="https://www.benzinga.com/markets/equities/24/08/40335015/exxon-mobil-reduces-staff-after-pioneer-merger-report">following its acquisition</a> of Pioneer Natural Resources earlier this year. 
The downsizing plan includes 376 job cuts in Irving, Texas, and an additional 18 in Midland, according to Reuters, which cited information from the Texas Workforce Commission.
Exxon had extended job offers to almost 1,900 Pioneer employees as part of the merger agreement.
Also Read: <a target="_blank" href="https://www.benzinga.com/24/11/42005094/lenovo-q2-earnings-cloud-momentum-ai-pcs-and-smartphone-growth-drive-revenue-beat" rel="noreferrer noopener">Lenovo Q2 Earnings: Cloud Momentum, AI PCs, And Smartphone Growth Drive Revenue Beat</a>
The company plans to lay off 110 employees by the end of 2024 and schedule another 178 layoffs for 2025. The remaining job cuts, affecting about 100 workers, are expected to occur in 2026.
In line with its focus on shale expansion, Exxon is reportedly preparing to divest conventional oil assets in the Permian Basin valued at <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40596410/exxon-mobil-eyes-permian-assets-sale-to-fuel-shale-expansion-report" rel="noreferrer noopener">approximately $1 billion</a>. The sale would involve mature wells in the Central Basin that provide stable but modest oil output.
For its third quarter, Exxon <a href="https://www.benzinga.com/news/earnings/24/11/41683914/exxon-q3-earnings-11-3-billion-cost-savings-rising-production-dividend-hike-and-more" target="_blank" rel="noreferrer noopener">reported total revenues</a> of $90.02 billion, falling short of the market consensus of $93.94 billion. Production rose by 5%, reaching 4,582 thousand oil-equivalent barrels per day, boosted by increased output from Pioneer's assets. 
Adjusted net profit dropped to $8.61 billion from $9.24 billion in the previous quarter. Exxon achieved structural cost savings of $11.3 billion compared to 2019 levels and aims to reach $15 billion in cumulative savings by the end of 2027.
Exxon Mobil shares have gained 18% year-to-date. However, Viking Fund Management <a href="https://www.benzinga.com/trading-ideas/24/11/41997142/viking-fund-management-sells-big-oil-stocks-in-q3-cuts-tesla-position-in-half-adds-to-largest-position-broadcom" target="_blank" rel="noreferrer noopener">recently reduced its stake</a> in the company.
Price Action: Exxon Mobil stock is up 0.12% at $120.71 at last check on Friday.
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Image created using artificial intelligence via Midjourney.

Commodities

Media

Exxon Mobil To Cut 400 Texas Jobs In Stages Through 2026

In the current market session, Exxon Mobil Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) stock price is at $120.53, after a 0.02% drop. However, over the past month, the company's stock increased by 0.46%, and in the past year, by 15.37%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1731675620_0.png" alt="Past Year Chart" />

<h3>Exxon Mobil P/E Ratio Analysis in Relation to Industry Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Exxon Mobil has a better P/E ratio of 15.01 than the aggregate P/E ratio of 13.3 of the Oil, Gas &amp; Consumable Fuels industry. Ideally, one might believe that Exxon Mobil Inc. might perform better in the future than it's industry group, but it's probable that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1731675620_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Markets

Price Over Earnings Overview: Exxon Mobil

A new 13F filing from Viking Fund Management reveals which companies the fund bought and sold in the third quarter, including exiting some oil companies ahead of the 2024 election.
Third Quarter Exits: Viking Fund Management sold out of eight stocks completely in the third quarter, including positions in some of the largest oil companies.
Here are the positions exited, as <a href="https://13f.info/13f/000116906924000080/compare/000116906924000006">reported </a>by 13finfo:
<ul>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>)</li>
<li>Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>)</li>
<li>SM Energy Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SM#NYSE">SM</a>)</li>
<li>Southern Copper Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCCO#NYSE">SCCO</a>)</li>
<li>Sociedad Quimica y Minera (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SQM#NYSE">SQM</a>)</li>
<li>Murphy USA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUSA#NYSE">MUSA</a>)</li>
<li>Sanofi SA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NYSE">SNY</a>)</li>
<li>Cactus Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>)</li>
</ul>
Third Quarter New Positions: The following were the new stocks added to the fund in the third quarter, ranked in size by the dollar value at the end of the quarter.
<ul>
<li>Kodiak Gas Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KGS#NYSE">KGS</a>)</li>
<li>EQT Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>)</li>
<li>HF Sinclair Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DINO#NYSE">DINO</a>)</li>
<li>Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>)</li>
<li>NRG Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRG#NYSE">NRG</a>)</li>
<li>Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>)</li>
<li>Chart Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NYSE">GTLS</a>)</li>
<li>Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>)</li>
<li>United Microelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>)</li>
<li>Eversource Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ES#NYSE">ES</a>)</li>
<li>Portland General Electric (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/POR#NYSE">POR</a>)</li>
<li>Restaurant Brands International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QSR#NYSE">QSR</a>)</li>
<li>Nutrien (NTR.TO – Canada)</li>
</ul>
 Big Moves: The fund made several changes to its existing positions alongside the new positions and exited positions.
Here are the biggest additions in the quarter to existing stakes:
<ul>
<li>Civitas Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIVI#NYSE">CIVI</a>): +16,900%</li>
<li>Broadcom Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGO#NASDAQ">AVGO</a>): +882%</li>
<li>LyondellBassell Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LYB#NYSE">LYB</a>): +400%</li>
<li>Rio Tinto PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RIO#NYSE">RIO</a>): +386%</li>
<li>Dow Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>): +200%</li>
</ul>
Here are the biggest position cuts during the quarter to existing stakes:
<ul>
<li>Texas Pacific Land (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPL#NYSE">TPL</a>): -60%</li>
<li>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>): -50%</li>
<li>Haliburton Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>): -40%</li>
<li>ExxonMobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>): -36%</li>
<li>Ovintiv (OVV.TO – Canada): -33%</li>
</ul>
Why It's Important: At the end of the quarter, these are the fund's largest positions ranked by dollar value and the percentage they make up of the fund:
<ul>
<li>Broadcom: $27.96 million, 4.5%</li>
<li>AbbVie Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>): $24.88 million, 4.0%</li>
<li>NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>): $22.65 million, 3.7%</li>
<li>Entergy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ETR#NYSE">ETR</a>): $16.27 million, 2.6%</li>
<li>BlackRock Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLK#NYSE">BLK</a>): $14.24 million, 2.3%</li>
</ul>
The fund added significantly to its position in Broadcom, which remains the largest holding.
The quarter saw the sale of several oil stocks, but the fund opened new positions in several energy names in the quarter.
Photo: Shutterstock

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Viking Fund Management Sells Big Oil Stocks In Q3, Cuts Tesla Position In Half, Adds To Largest Position Broadcom

Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading higher by roughly 5% during November after Donald Trump's win in the <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">presidential election</a>, as investors anticipate a more favorable regulatory and economic environment for the oil and gas sector.
Trump's administration is expected to prioritize fossil fuel production, potentially reversing recent policies on environmental restrictions and supporting domestic energy expansion, which could directly benefit Exxon's extensive U.S. operations. 
Trump's stance on reducing regulations in the energy sector could make it easier and more cost-effective for Exxon to expand drilling projects, especially in U.S. shale regions like the Permian Basin, where the company has invested heavily in recent years.
Read Also: <a href="https://www.benzinga.com/tech/24/11/41973572/ray-dalios-bridgewater-cuts-stake-in-microsoft-stock-by-20-is-big-tech-losing-its-shine">Ray Dalio&#8217;s Bridgewater Cuts Stake In Microsoft Stock By 20% – Is Big Tech Losing Its Shine?</a>
What To Know: One anticipated shift under Trump's policies would be a rollback of regulations tied to carbon emissions, methane leaks, and drilling permits, which had increased compliance costs for companies like Exxon. 
With eased regulatory pressures, Exxon would have greater flexibility to explore and develop new oil and gas fields without facing stringent environmental compliance costs, potentially boosting production levels and profitability. 
Additionally, Trump's proposal to withdraw from the Paris Climate Agreement and possibly undo green energy subsidies could slow the U.S. transition to renewables, extending the market dominance of traditional energy sources where Exxon is well-positioned.
Read Also: <a href="https://www.benzinga.com/24/11/41971559/disneys-q4-boosted-by-streaming-gains-strong-box-office-and-solid-parks-performance">Disney Q4 Earnings: Revenue And Profit Beat, Best Film Studio Performance, 3-Year Outlook And More</a>
What Else: Trump's protectionist trade policies, particularly his advocacy for tariffs on foreign imports, could also play a role in shaping Exxon's strategy. 
While higher tariffs could increase costs for some imported materials used in refining and exploration, the overarching goal to strengthen domestic energy independence aligns with Exxon's core U.S. operations. 
Furthermore, Trump's inclination to ease sanctions on certain countries, such as Russia, could create new avenues for Exxon to partner in international projects, a potential growth area constrained by recent sanctions.
While uncertainties remain in the global oil market, Trump's commitment to bolstering fossil fuel production and easing regulatory constraints provides an optimistic outlook for Exxon's growth trajectory, making the stock an appealing choice for energy investors post-election.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41971830/producer-inflation-rises-more-than-expected-in-october-should-traders-rethink-interest-rate-cut-path">Producer Inflation Rises More Than Expected In October: Should Traders Rethink Interest Rate Cut Path?</a>
<h2 class="wp-block-heading">How To Buy XOM Stock</h2>
By now you're likely curious about how to participate in the market for Exxon Mobil &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Exxon Mobil, which is trading at $121.61 as of publishing time, $100 would buy you 0.82 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, XOM has a 52-week high of $126.34 and a 52-week low of $95.77.

<a href="https://www.bizjournals.com/houston/news/2024/11/13/exxon-mobil-texas-layoffs-pioneer-acquisition.html">https://www.bizjournals.com/houston/news/2024/11/13/exxon-mobil-texas-layoffs-pioneer-acquisition.html</a>
The layoffs are a result of Exxon Mobil Corp.'s $59.5 billion acquisition of Pioneer Natural Resources earlier this year.

Management

Reported Nov 13, 2024, 'Exxon Mobil To Lay Off Nearly 400 Texas Employees As A Result Of Pioneer Acquisition' - Houston Business Journal

John Kerry, who served as the secretary of state in the administration of Barack Obama, warned the aftermath of President-elect Donald Trump&#8216;s plans to withdraw the U.S. from the Paris Climate Agreement.
What Happened: During an interview, Kerry, now co-executive chair of Galvanize Climate Solutions, warned Trump about the dangers of withdrawing the U.S. from the Paris climate agreement. He cautioned that such a move would &#8220;cede leadership to China, the very thing that he says we don't want to do," Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-11-14/no-politician-can-halt-wave-of-climate-investment-kerry-says">reported</a> on Thursday.
"He would diminish the ability of the world to be able to respond to this existential crisis," Kerry warned.
Kerry also highlighted the vast opportunities emerging in sectors like AI, nuclear, and geothermal energy. Earlier this year, he resigned from his role as President Joe Biden&#8217;s top climate envoy.
See Also: <a href="https://www.benzinga.com/24/11/41926584/chamath-palihapitiya-says-cut-the-federal-budget-by-trillions-and-then-do-this-with-a-fraction-of-the-money-to-make-america-great-again?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Chamath Palihapitiya Says Cut The Federal Budget By Trillions And Then Do This With A &#8216;Fraction&#8217; Of The Money To &#8216;Make America Great Again&#8217;</a>
Why It Matters: The urgency surrounding climate change was a central theme at the recent <a href="https://www.benzinga.com/news/global/24/11/41925800/urgency-debate-mark-cop29-as-leaders-push-for-carbon-market-rules-worry-about-trump">COP29 summit</a> in Baku, Azerbaijan. Global leaders discussed carbon market mechanisms and climate finance, amid concerns about President-elect Trump&#8217;s potential withdrawal from the Paris Agreement. 
Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) CEO Darren Woods has also <a href="https://www.benzinga.com/markets/equities/24/11/41893598/exxon-ceo-urges-trump-to-reconsider-paris-agreement-exit-stops-and-starts-arent-right-for-business">urged Trump to reconsider</a> the decision, emphasizing that policy inconsistency creates challenges for businesses.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/24/11/41890244/elizabeth-warren-says-trump-and-his-transition-team-are-already-crossing-legal-boundaries-i-would-know-because-i-wrote-the-law?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elizabeth Warren Says Trump And His Transition Team Are Already Crossing Legal Boundaries: &#8216;I Would Know&nbsp;Because I Wrote The Law&#8217;</a></li>
</ul>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Image by Alexandros Michailidis via Shutterstock

General

Obama-Era State Secretary Warns Trump's Plans To Withdraw From Paris Agreement Would 'Cede Leadership To China'

Republicans are set to maintain control of the House of Representatives with a narrow margin, marking a new era as President-elect Donald Trump heads back <a href="https://www.benzinga.com/topic/donald-trump">to the White House. </a>
With control of Congress locked up Wednesday, Trump and his allies are poised to enact changes across various sectors, from tax reforms to potential deregulations, as the party mobilizes to advance its agenda across Washington, NBC News <a href="https://www.nbcnews.com/politics/2024-election/republicans-win-house-majority-trump-party-senate-control-rcna179231">reports</a>.
What Happened: Following a decisive win over Vice President Kamala Harris, Trump&#8217;s victory helped secure key congressional seats that kept Republicans in command of the House and the Senate. This sweeping Republican control creates a dynamic environment where Trump can enact his policy objectives with minimal opposition, positioning the party to reshape American policy on multiple fronts.
House Speaker Mike Johnson (R-La.) celebrated the victory on Capitol Hill, emphasizing the unity and optimism he expects to define the next two years of governance. Key GOP gains in swing districts across Pennsylvania and Michigan helped solidify Republican dominance, despite Democrat efforts to regain control, according to NBC News.
With this control, Trump's team may pursue reforms involving tax cuts, health care changes, and immigration policy adjustments aimed at fulfilling the promises for which he campaigned. Republicans will also be in a position to use "reconciliation," a procedural tool allowing legislation to pass more easily without relying on Democratic support.
Read Next:<a href="https://www.benzinga.com/politics/24/11/41950681/trump-once-said-political-career-over-about-john-thune-now-senate-majority-leader-working-with-him-to-pass-gop-agenda"> Trump Once Said John Thune&#8217;s &#8216;Political Career Over&#8217;: Now He&#8217;ll Work With Senate Majority Leader On GOP Agenda</a>
Why It Matters: The GOP's full leadership signals potential market shifts as Republicans focus on deregulation and reshaping economic policy. 
Analysts expect changes in sustainable investment strategies under Trump's leadership. JPMorgan's Virgina Martin Heriz highlighted that while some Inflation Reduction Act incentives for clean energy might stay, others, like electric vehicle tax credits, could face cuts. &#8220;Fund performance matters far more than politics,&#8221; she said, underlining that financial gains may drive <a href="https://www.benzinga.com/government/regulations/24/11/41926301/sustainable-investment-under-trump-performance-matters-far-more-than-politics-jpmorgan-analyst-says">decisions in renewable energy.</a>
In light of these changes, certain sectors may see pronounced impacts:
Energy Sector Growth: With a pro-energy agenda, traditional oil and gas firms could thrive under reduced regulations. 
<ul>
<li>ETF to Watch: Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), tracking companies like Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), may benefit from policies aimed at fossil fuel expansion.</li>
</ul>
Financial Sector Deregulation: Reduced oversight in the financial sector could benefit banks and investment firms. 
<ul>
<li>ETF to Watch: Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>), which includes firms such as JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) and Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>).</li>
</ul>
Defense and Infrastructure Investment: Increased defense and infrastructure spending could benefit contractors. 
<ul>
<li>ETF to Watch: iShares U.S. Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ITA#NYSE">ITA</a>), with major holdings like Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) and Raytheon Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>).</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41930918/trumps-high-inflation-regime-will-weaken-the-dollar-and-push-bitcoin-to-1m-says-arthur-hayes-get-long-and-stay-long">Trump&#8217;s High-Inflation Regime Will Weaken The Dollar And Push Bitcoin To $1M, Says Arthur Hayes: &#8216;Get Long And Stay Long&#8217;</a></li>
</ul>
Photo: Shutterstock

Sector ETFs

Politics

ETFs

iShares Dow Jones US Aerospace & Defense Index Fund

Republicans Set To Hold Slim House Majority: What It Means For Energy, Financial, Defense Sectors

In an Oval Office meeting on Wednesday, President Joe Biden and President-elect Donald Trump both pledged a smooth transition of power, marking a formal beginning <a href="https://www.benzinga.com/topic/donald-trump">to the handover process.</a>
Biden congratulated Trump and assured him the administration would fully support his team's needs for a seamless transition, <a href="https://www.cbsnews.com/news/trump-biden-meeting-white-house-2024-election/">CBS News</a> reports.
What Happened: After a private gathering with House Republicans, Trump met Biden at the White House, where the two leaders exchanged brief words before the press. &#8220;Well Mr. President-elect, former president, Donald, congratulations, and looking forward to&#8230; a smooth transition,&#8221; Biden said.
&#8220;Thank you very much,&#8221; Trump responded, adding that &#8220;politics is tough&#8221; and &#8220;not a very nice world,&#8221; but he appreciated the &#8220;smooth transition&#8221; underway, saying, &#8220;It&#8217;ll be as smooth as it can get.&#8221;
In addition to the ceremonial meeting, Trump has begun shaping his administration's agenda. A key focus is energy policy, with Trump reportedly considering appointing an "energy czar" to lead efforts in scaling back environmental regulations and increasing fossil fuel production. 
North Dakota Gov. Doug Burgum, a former software executive and oil industry advocate, is said to be the <a href="https://www.benzinga.com/news/24/11/41883635/trump-looks-to-undo-biden-climate-progress-with-burgum-as-energy-czar-report">frontrunner for this role.</a>
Read Next: <a href="https://www.benzinga.com/general/social-media/24/11/41912771/trump-presidency-magnificent-7-stock-impact-benzinga-readers-pick-tech-titan-at-most-risk-following-2024-election">Trump Presidency Magnificent 7 Stock Impact: Benzinga Readers Pick Tech Titan At Most Risk Following 2024 Election</a>
Why It Matters: The symbolic meeting between Biden and Trump emphasizes the importance of a peaceful transfer of power in the face of a contentious recent history. Trump did not hold a similar meeting with Biden in 2021 in the wake of the Jan. 6 Capitol riot, when Trump left the White House after falsely stating he won the 2020 election. 
Before his Oval Office meeting with Biden, Trump was met with a standing ovation by House Republicans and accompanied by high-profile supporters, including Elon Musk, who has recently played a role as an advisor to Trump's campaign. 
This transition sets the stage for a fresh political landscape, with Trump's leadership poised to steer the country in a markedly different policy direction. 
Read Next:
<ul>
<li><a href="https://www.benzinga.com/24/11/41890244/elizabeth-warren-says-trump-and-his-transition-team-are-already-crossing-legal-boundaries-i-would-know-because-i-wrote-the-law">Elizabeth Warren Says Trump And His Transition Team Are Already Crossing Legal Boundaries: &#8216;I Would Know Because I Wrote The Law&#8217;</a></li>
</ul>
Photos courtesy: Shutterstock, Midjourney.

Government

LCID

RIVN

Biden Pledges 'Smooth' Transition To Trump In White House Meeting

Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares have remained flat over the past week since Donald Trump's <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41772701/trumps-historic-return-7-ways-his-second-term-could-impact-the-us-economy">presidential election win</a>, reflecting investor caution about how his energy policies may impact the oil and gas giant. 
Although Trump's pro-fossil fuel stance and potential regulatory rollbacks favor Exxon's business model, broader uncertainties around global oil demand and geopolitical risks are tempering market enthusiasm.
What To Know: One of the most immediate potential benefits for Exxon under a Trump administration would be the loosening of environmental regulations. Trump's previous term saw a significant easing of restrictions on drilling, fracking, and pipeline construction, and a similar approach is expected this term. 
This could allow Exxon to expand domestic operations more freely, particularly in high-yield shale areas like the <a href="https://www.benzinga.com/news/asset-sales/24/11/41914956/exxon-mobil-sells-1-billion-in-permian-basin-assets-to-focus-on-shale-report">Permian Basin</a>, boosting production capacity without facing significant regulatory hurdles. 
However, it's unclear whether demand will fully recover, particularly with shifting global priorities toward renewable energy.
Another aspect of Trump's policy agenda is his intention to exit the Paris Climate Agreement and potentially unwind portions of the Inflation Reduction Act that subsidize renewable energy.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41942346/markets-breath-sigh-of-relief-after-in-line-inflation-data-stocks-rebound-as-small-caps-bonds-soar">Markets Breathe Sigh Of Relief After In-Line Inflation Data: Stocks Rebound As Small Caps, Bonds Soar</a>
This could slow the transition to green energy in the U.S., potentially extending the timeline for oil and gas demand, which is positive for Exxon's long-term outlook in fossil fuels. 
However, these moves also risk diplomatic tensions and could spur foreign governments to double down on renewable commitments, potentially limiting Exxon's international expansion opportunities.
What Else: Exxon's reliance on global markets also faces uncertainties tied to Trump's approach to trade and international sanctions. Trump has signaled possible sanctions relief on Russia, which could open new partnership opportunities for Exxon in Russian oil projects, a region with untapped potential. 
However, increased tariffs and trade tensions with other countries could disrupt the global oil market, adding complexity to Exxon's growth strategy.
Overall, while Trump's policies may create a more favorable operating environment for Exxon domestically, global demand uncertainties and international risks keep investors cautious.
Read Also: <a href="https://www.benzinga.com/economics/macro-economic-events/24/11/41938762/october-inflation-rate-rises-to-2-6-as-expected-december-interest-rate-cut-remains-uncertain">October Inflation Rate Rises To 2.6% As Expected: December Interest Rate Cut Remains Uncertain</a>
Investors can gain exposure to XOM by investing in the Energy Select Sector SPDR Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NASDAQ">XLE</a>).
<h2 class="wp-block-heading">Is XOM A Good Stock To Buy?</h2>
An investor can make a few decisions when deciding whether a stock is a good buy. In addition to valuation metrics and price action which you can find on Benzinga's quote pages &#8211; like <a href="https://www.benzinga.com/quote/XOM">Exxon Mobil</a>&#8216;s page for example &#8211; there are factors like whether or not a company pays a dividend or buys a large portion of its stock each quarter.
These are known as capital allocation programs. Exxon Mobil does pay a dividend, which yields 3.37% per year as of the closing price on Nov. 13, 2024. Feel free to search Benzinga's <a href="https://www.benzinga.com/calendars/dividends">dividend calendar</a> for the next company that is due to pay a dividend and determine what kind of yield you can earn for holding a share of the company.
For example, if you're looking to earn an annualized return of 11.56%, you'll need to buy a share of Cardinal Energy by the Nov. 29, 2024. Once done, you can expect to receive a nominal payout of $0.06 on Dec. 16, 2024.
Buyback programs are obviously different and highly variable. A company can approve a buyback program and purchase shares as it sees fit over the course of time in which the buyback was authorized. Looking through the latest news on <a href="https://www.benzinga.com/quote/XOM">Exxon Mobil</a> will often yield whether or not the company has approved a buyback program recently. Buyback programs usually serve as a support for share prices, serving as a backstop for demand.

In a bid to focus on evolving shale production, Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) reportedly disclosed a $1 billion major asset sale deal.
According to Reuters, the oil and gas giant plans to divest its conventional oil drilling assets located in the Permian Basin of Texas and New Mexico.
As per the report, the assets are estimated to produce around 26,000 barrels of oil equivalent per day.
The company told Reuters that the asset sale to Hilcorp Energy "aligns with their strategy to concentrate investments on high-value assets within the industry-leading portfolio."
Notably, earlier in August, Exxon had disclosed the intention to sell older wells in the Permian's Central Basin that <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40596410/exxon-mobil-eyes-permian-assets-sale-to-fuel-shale-expansion-report" rel="noreferrer noopener">produce small but steady oil volumes</a>.
At that time, the company said in a statement responding to questions from Bloomberg News that it is "exploring market interest for select conventional assets in West Texas and South East New Mexico."
This month, Exxon reported third-quarter revenues and other income&nbsp;of&nbsp;$90.016&nbsp;billion, which missed the consensus of&nbsp;$93.938 billion while adjusted EPS of&nbsp;$1.92,&nbsp;beating <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41683914/exxon-q3-earnings-11-3-billion-cost-savings-rising-production-dividend-hike-and-more" rel="noreferrer noopener">the consensus of&nbsp;$1.88</a>.
The company achieved a cumulative structural cost savings of $11.3 billion versus 2019, including an additional $1.6 billion of savings during the year and $0.6 billion during the quarter.
Investors can gain exposure to XOM via EA Series Trust Strive U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DRLL#NYSE">DRLL</a>) and SPDR Select Sector Fund – Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
<h2 class="wp-block-heading">Is Exxon A Good Stock To Buy?</h2>
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Exxon Mobil has reported average annual revenue growth of 18.04% over the past 5 years. .
It's also important to pay attention to valuation when deciding whether to buy a stock. Exxon Mobil has a forward P/E ratio of 13.51. This means investors are paying $13.51 for each dollar of expected earnings in the future. The average forward P/E ratio of Exxon Mobil's peers is 7.72.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out <a href="https://pro.benzinga.com">Benzinga PRO</a>. 
Price Action: XOM shares are down 0.12% at $120.32&nbsp;at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/11/41893598/exxon-ceo-urges-trump-to-reconsider-paris-agreement-exit-stops-and-starts-arent-right-for-business" target="_blank" rel="noreferrer noopener">Exxon CEO Urges Trump To Reconsider Paris Agreement Exit: ‘Stops And Starts Aren't Right For Business'</a></li>
</ul>
Photo by JHVEPhoto via Shutterstock

Asset Sales

Exxon Mobil Sells $1 Billion in Permian Basin Assets to Focus on Shale: Report

Exxon Mobil Agrees To Sale Of Conventional Permian Assets, Expects To Close Deal By Q1 2025; Privately Owned Hilcorp Is Buyer Of Exxon Conventional Assets, Will Pay Around $1B

Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) CEO Darren Woods has urged President-elect Donald Trump to <a href="https://www.benzinga.com/markets/equities/24/06/39563833/trump-campaign-signals-intent-to-withdraw-us-from-paris-climate-accord-again-report">reconsider withdrawing from the Paris climate agreement</a>.
What Happened: Woods emphasized that policy inconsistency creates challenges for businesses in an <a href="https://www.wsj.com/business/energy-oil/exxon-says-trump-should-keep-u-s-in-paris-climate-pact-3d8de471">interview</a> with The Wall Street Journal, stating, &#8220;I don&#8217;t think the stops and starts are the right thing for businesses&#8230; It is extremely inefficient. It creates a lot of uncertainty.&#8221;
Trump, who previously withdrew the U.S. from the agreement during his first term before President Joe Biden rejoined it in 2021, is expected to exit again. This puts Exxon, which has supported the accord since 2015, at odds with the incoming administration.
Woods, speaking from the UN climate conference (COP29) in Baku, Azerbaijan, affirmed that Exxon will maintain its current strategy, including its $20 billion investment in low-carbon technologies through 2027. &#8220;We don&#8217;t let political agendas drive our business and investment decisions,&#8221; he stated.
The situation highlights a growing divide in the oil industry. As analyst Paul Sankey noted, according to WSJ, &#8220;It&#8217;s ironic that the major oil companies are not supportive of the &#8216;drill, baby, drill,&#8217; strategy, nor are their shareholders. They&#8217;ve been working very hard to lower their emissions, and the last thing they want is for all the rules and regulations to change again.&#8221;
See Also: <a href="https://www.benzinga.com/24/11/41867250/warren-buffetts-apple-stake-reduction-spurs-97b-cash-surge-analysts-speculate-this-could-be-the-reason-behind-berkshire-hathaways-massive-cash-pile?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Warren Buffett&#8217;s Apple Stake Reduction Spurs $97B Cash Surge—Analysts Speculate This Could Be The Reason</a>
Why It Matters: The U.S.&#8217;s stance on the Paris Climate Agreement has been a contentious issue, with potential implications for global climate change efforts and the business world. Trump&#8217;s plan to withdraw the U.S. from the agreement was <a href="https://www.benzinga.com/markets/equities/24/06/39563833/trump-campaign-signals-intent-to-withdraw-us-from-paris-climate-accord-again-report">signaled during his re-election campaign</a>. 
This move was met with criticism from environmentalists and leaders, including actor Leonardo DiCaprio, who <a href="https://www.benzinga.com/markets/equities/24/10/41562048/leonardo-dicaprio-backs-harris-says-trump-continues-to-deny-the-facts-on-climate">endorsed then-Democratic candidate</a> Kamala Harris for her climate policies.
On the other hand, Trump&#8217;s pro-business policies have been <a href="https://www.benzinga.com/markets/equities/24/11/41892697/trump-is-the-most-pro-stock-market-president-says-wharton-professor-jeremy-siegel">praised by some for their potential impact</a> on the stock market. Finance professor Jeremy Siegel suggested that Trump&#8217;s policies could drive the stock market to unprecedented levels, highlighting the complex interplay between climate policy, business, and the financial markets.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/11/41872279/cathie-wood-predicts-trumps-white-house-return-will-ignite-reagan-era-economic-boom-through-deregulation-and-tax-cuts-likely-to-turbocharge-the-us-economy?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Cathie Wood Predicts Trump&#8217;s White House Return Will Ignite Reagan-Era Economic Boom Through Deregulation And Tax Cuts</a></li>
</ul>
Image via Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>

Economics

Exxon CEO Urges Trump To Reconsider Paris Agreement Exit: 'Stops And Starts Aren't Right For Business'

President-elect Donald Trump is considering appointing an &#8220;energy czar,&#8221; a role that would have the authority to nix environmental regulations and increase U.S.<a href="https://www.benzinga.com/government/24/11/41831044/how-to-play-the-trump-trade-for-ai-energy-taxes-analyst-says-5-stocks-could-shine"> fossil fuel production. </a>
What Happened: Trump is looking to appoint an overseer of deregulation efforts across various agencies, including the Department of Energy, Department of Interior, Federal Energy Regulatory Commission, and Environmental Protection Agency.
According <a href="https://www.ft.com/content/f75bd3f1-213f-4501-9005-58b42205ffff">to</a> the Financial Times, North Dakota Gov. and billionaire Doug Burgum is the frontrunner for this so-called energy czar position. 
Read More: <a href="https://www.benzinga.com/general/biotech/24/11/41822473/trumps-potential-health-czar-robert-f-kennedy-jr-rattles-vaccine-stocks-shoot-first-reaction">Trump&#8217;s Potential &#8216;Health Czar&#8217; Robert F. Kennedy Jr. Rattles Vaccine Stocks: &#8216;Shoot First Reaction&#8217;</a>
Burgum initially competed in the Republican primary before endorsing Trump. He previously headed Great Plains Software, becoming its president in 1984, and selling the company to Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) in 2001 for $1.1 billion. 
He has also served on the board of Atlassian Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) and most recently served as an energy advisor to Trump during his latest presidential campaign. 
Why It Matters: The news coincides with John Podesta, Biden&#8217;s lead climate diplomat, appearing at the UN climate summit in Baku, Azerbaijan, Monday. He <a href="https://www.axios.com/2024/11/11/top-biden-climate-diplomat-criticizes-trump-at-un-summit">called</a> the Nov. 5 presidential election outcome &#8220;bitterly disappointing.&#8221;
Over the past four years, the Biden Administration <a href="https://www.benzinga.com/personal-finance/24/05/38796993/bidens-1-6-trillion-investment-in-green-energy-sector-has-hit-stonewall-in-the-form-of-unspent-c">expanded clean energy initiatives</a> and <a href="https://www.benzinga.com/government/23/10/35240230/us-is-producing-more-oil-under-biden-than-at-any-point-under-the-trump-administration">produced more oil </a>than the previous Trump Administration.
Ali Zaidi, Biden&#8217;s national climate adviser, will likely be replaced with an energy czar as president-elect Trump targets current climate and energy regulations (i.e., vehicle emissions rules and lifting restrictions on oil and gas drilling). 
Analysts <a href="https://www.benzinga.com/news/24/11/41781921/what-does-trumps-victory-mean-for-ev-giant-tesla-and-the-big-3-automakers">have said </a>such changes could spell trouble for the clean energy and electric vehicle industry, but could be a boon for oil and gas companies.&nbsp;
EV-makers including Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) and Lucid Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) could see fewer sales if the Trump administration pulls rebates and tax incentives. However, oil and gas companies like Exxon Mobil Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) could see increased profits as Trump has vowed to lift restrictions on drilling and traditional energy production. 
Investors can also monitor the effects of potential policy changes in the broader EV sector through the iShares Self-Driving EV and Tech ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDRV#NYSE">IDRV</a>) and oil through the ProShares Ultra Bloomberg Crude Oil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCO#NYSE">UCO</a>). 
Read Next:&nbsp;
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<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41850890/super-micro-delisting-risk-puts-1-7-billion-bond-repayment-on-the-line">Super Micro Delisting Risk Puts $1.7 Billion Bond Repayment On The Line</a></li>
</ul>
Image: Shutterstock

IDRV

MSFT

TEAM

Trump Looks To Undo Biden Climate Progress With Burgum As 'Energy Czar': Report

XLE: Trump SPR Refill And Geopolitical Risk Point To Oil Rally In 2025

Of 63 Fortune 500 Industry Leaders, 57 Pay Dividends, 38 Are Cash Rich And 1 Is A Buy

What do all of the following have in common? The laptop that I'm typing on right now. The clothes that I'm wearing. The energy that's powering my h...

Is Exxon Mobil (NYSE:XOM) a Buyable Dividend Aristocrat?

The Higher They Soar, The More I Buy

Hess Corporation: All Avenues Lead To Guyana

Exxon Mobil (XOM) plans to invest more than $200M to expand its advanced recycling operations at its sites in Baytown and Beaumont, Texas. The new ...

Exxon Mobil to invest $200M to expand recycling operations in Texas

Exxon targets $200M to expand plastics recycling operations at Texas plants

Exxon to start gas drilling off Cyprus in January, exec says

Franklin Income Fund Q3 2024 Commentary

Exxon-led group ends talks with Guyana over shallow water oil block, government says

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ExxonMobil To Sell Oil And Gas Assets In The Permian Basin

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Khaled bin Mohamed bin Zayed Witnesses Signing Ceremony for ADNOC and ExxonMobil Partnering in World's Largest Low-Carbon Hydrogen Facility

Drone Usage for Automated UAV Monitoring Solutions Witnessing Rapid Growth & Increasing Revenue Generating Opportunities

Oil Prices Spike As Middle East Tensions Escalate

Texas Pacific Land Corporation Acquires Permian Oil and Gas Mineral and Royalty Interests in Cash Transaction

ExxonMobil Secures Largest CO2 Offshore Storage Site in the U.S.

ExxonMobil to Release Third Quarter 2024 Financial Results

ExxonMobil Announces Third-Quarter 2024 Results

LG Chem and ExxonMobil sign MOU for lithium offtake

ExxonMobil to Expand Advanced Recycling Capacity

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