Earnings Release Review - Exxon Mobil

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Aug 08, 2014, 09:30 ET from Investor-Edge

LONDON, August 8, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on Exxon Mobil Corporation. (NYSE: XOM) as the company recently featured in the headlines on Thursday, July 31, 2014, for reporting a 32% year-over-year growth in GAAP earnings per diluted share, while the GAAP net earnings rose by 28% year-over-year in the second quarter of 2014. Our free coverage report can be accessed at:


Earnings Overview 

Exxon Mobil Corp.'s oil-equivalent production fell by 5.7% year-over-year to 3,840 thousand oil equivalent barrels per day (koebd) from 4,074 koebd in the comparable last year quarter. The company's oil-equivalent production decreased by 2.3% year-over-year, excluding the impact of the expiry of the Abu Dhabi onshore concession. During the quarter, the company spent $9.80 billion on capital and exploration expenditures, down 4% year-over-year from $10.24 billion in the year-ago quarter. The company's cash flow from operations stood at $12.8 billion (including $2.6 billion from sale of assets), up from 8.0 billion in second quarter of 2013. In the reported quarter, the company repurchased 30 million shares worth $3 billion and paid dividend of $0.69 per share, up 9.5% year-over-year from the year-ago quarter. The company's Arkutun-Dagi field at the offshore Sakhalin Island in Russia is expected to start its production later this year, and will add up to 90 thousand barrels per day of oil (gross) to the current total production volumes at Sakhalin-1. The free research on XOM can be downloaded as in PDF format at:


Rex W. Tillerson, Chairman at Exxon Mobil Corp., said that the company's strong operational performance and portfolio management drove the second quarter results. The chairman further asserted that the company will continue to improve on the shareholder value by funding capital projects and deliver strong shareholder returns through dividends and shares repurchase. Mr. Tillerson stated that the upstream production for the year is on right track and the company continues to add volumes from high-quality development portfolio through assets such as Papua New Guinea LNG project, which has started production ahead of schedule.

The Irving, Texas based- petroleum major outperformed market expectations by reporting better than expected revenues for the second quarter 2014. Total revenue improved $4.98 billion to $111.65 billion from $106.67 billion, outperforming the Bloomberg consensus estimate of $104.24 billion. Exxon Mobil Corp. reported GAAP net earnings of $8.78 billion, or $2.05 per diluted share, above $6.86 billion, or $1.55 per diluted share in the year-ago quarter, and the market consensus net income estimate of $8.11 billion, or $1.90 per diluted share. Sign up and read the free analyst's notes on XOM at:


Stock Performance  

On Thursday, July 31, 2014, post the earnings release, Exxon Mobil Corp.'s shares declined 4.17% to end the session at $98.94. On the last close, Thursday, August 07, 2014, the company's shares fell 0.72% further to close at $98.27. The company's shares oscillated between $97.63 and $99.84 during the trading session. A total of 10.02 million shares were traded, which was higher than the three months average volume 9.21 million shares. Exxon Mobil Corp.'s shares have fallen by 1.86% in the previous three trading sessions, 4.43% in the last one month and 2.90% on YTD basis. The company is trading above its 200-day moving average of $97.73, while the 200-day moving average is below Exxon Mobil Corp.'s 50-day moving average of $101.94. The stock traded at a PE ratio of 12.52 and has a Relative Strength Index (RSI) of 36.96. Visit Investor-Edge and access the latest research on XOM at:


Sneak Peek to Corporate Insider Trading  

In the last one month, Exxon Mobil Corp. has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on XOM is available at:


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