Exxon Mobil's XTO Energy Seeks Buyers for Texas Assets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: seekingalpha
- Asset Sale Initiative: Exxon Mobil's subsidiary XTO Energy is seeking buyers for assets in Texas' Eagle Ford shale basin, encompassing 168,000 net acres valued at over $1 billion, reflecting the company's ongoing efforts to optimize its investment portfolio.
- Well Resource Abundance: The assets for sale include more than 1,000 wells, some operated by Exxon and others in which it holds non-operated interests, indicating a flexible strategy in resource allocation to adapt to market changes.
- Marketing Strategy: Exxon has opened a virtual data room to commence asset marketing, which not only aids in attracting potential buyers but also demonstrates the company's commitment to continuously evaluate its asset portfolio in Texas.
- Focus on Core Assets: Exxon is currently concentrating on its holdings in the Permian Basin of Texas and New Mexico, as well as its assets in Guyana, having sold several assets in recent years to concentrate resources on more strategically significant investments.
Analyst Views on XOM
Wall Street analysts forecast XOM stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for XOM is 132.17 USD with a low forecast of 114.00 USD and a high forecast of 158.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
12 Buy
7 Hold
0 Sell
Moderate Buy
Current: 134.840
Low
114.00
Averages
132.17
High
158.00
Current: 134.840
Low
114.00
Averages
132.17
High
158.00
About XOM
Exxon Mobil Corporation is an energy provider and chemical manufacturer. The Company’s principal business involves exploration for, and production of, crude oil and natural gas; the manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and a wide variety of specialty products; and pursuit of lower-emission and other new business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, Proxxima systems, carbon materials, and lithium. Its Upstream segment explores for and produces crude oil and natural gas. The Energy Products, Chemical Products, and Specialty Products segments manufacture and sell petroleum products and petrochemicals. Energy Products segment includes fuels, aromatics, and catalysts and licensing. Chemical Products segment consists of olefins, polyolefins, and intermediates. Specialty Products segment includes finished lubricants, basestocks and waxes, synthetics, and elastomers and resins.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
