XOM - Exxon Mobil's Stock Slides: Oil Up Gas Down Makes For Mixed Q2 Earnings Outlook | Benzinga
Exxon Mobil Corporation (NYSE:XOM) shares are trading lower today. The oil giant anticipates changes in oil prices to boost second-quarter upstream earnings Q/Q by $0.3 billion to $0.7 billion.
Conversely, changes in gas prices will negatively impact its second-quarter upstream results by between $(0.7) billion and $(0.3) billion.
On the other hand, Exxon Mobil projects that variations in industry margins will impact energy products earnings by $(1.5) billion-$(1.1) billion, specialty products earnings by $(0.1) billion-$0.1 billion and chemical products earnings by $0.0 billion-$0.2 billion.
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In May, Exxon Mobil closed its acquisition of Pioneer Natural Resources Company.
The company expects a 500 – 550 koebd production boost, reflecting two months of Pioneer production averaged for 91 days for the second quarter. ...