Exxon Mobil Corporation engages in the exploration and production of crude oil and natural gas in the United States and internationally. It operates through Upstream, Energy Products, Chemical Products, and Specialty Products segments. The Upstream segment explores for and produces crude oil and natural gas. The Energy Products segment offers fuels, aromatics, and catalysts, as well as licensing services. It sells its products under the Exxon, Esso, and Mobil brands. The Chemical Products segment manufactures and markets petrochemicals including olefins, polyolefins, and intermediates. The Specialty Products segment offers performance products, including lubricants, basestocks, waxes, synthetics, elastomers, and resins. The company also involves in the manufacturing, trade, transport, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products; and pursuit lower-emission business opportunities, including carbon capture and storage, hydrogen, lower-emission fuels, and lithium. Exxon Mobil Corporation was founded in 1870 and is based in Spring, Texas.

Exxon Mobil Corporation

(RTTNews) - California's new climate disclosure laws, according to Exxon Mobil Corporation, violate the company's First Amendment rights by requiring it to support what it describes as the state's ideological message, that big businesses are largely to blame for climate change. The company has filed a federal lawsuit against the state.
The lawsuit, which was filed in the U.S Eastern District Court for California, contests two laws that Governor Gavin Newsom signed into law in 2024 Senate Bill.
These regulations mandate that big businesses reveal their financial risks associated with climate change as well as their greenhouse gas emissions, including indirect Scope 3 emissions from transportation, supply chains, and product use.
Although it already reports emissions and climate risks, ExxonMobil contends that California's required framework unfairly singles out large corporations, inflating their environmental impact and seeking to shame them.
The business argues that the laws violate constitutional rights by requiring speech that advances the political agenda of the state.
When the reporting requirements go into effect starting in 2026, the California Air Resources Board projects that over 4,000 American businesses will have to comply.
ExxonMobil is attempting to prevent the laws from being enforced before they take effect, despite the fact that similar free speech challenges have been unsuccessful in court in the past.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

ExxonMobil Sues California Over Climate Disclosure Laws, On Free Speech Violations

Key Points
Sold 43,062 shares of Exxon Mobil Corporation; estimated transaction value $4,787,055
Post-trade stake: 23,770 shares valued at $2.68 million
Position now accounts for 0.64% of fund AUM, placing it outside the fund's top five holdings
McElhenny Sheffield Capital Management, LLC reported selling Exxon Mobil Corporation (NYSE:XOM) shares valued at an estimated $4.79 million, based on quarterly average prices for Q3 2025, according to its October 20, 2025, SEC filing.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated October 20, 2025, McElhenny Sheffield Capital Management, LLC reduced its holdings in Exxon Mobil Corporation (XOM) by 43,062 shares in Q3 2025. The estimated value of these trades, based on quarterly average prices, was approximately $4.79 million. After the transaction, the fund reported holding 23,770 shares valued at $2.68 million.
What Else to Know
The fund’s stake in Exxon Mobil Corporation now represents 0.64% of its reportable assets under management after this sale
Top holdings after the filing:
MSMR: $101.54 million (24.1% of AUM) as of September 30, 2025
TQQQ: $70.60 million (16.7% of AUM) as of September 30, 2025
QQQ: $57.74 million (13.7% of AUM) as of September 30, 2025
SPY: $38.84 million (9.2% of AUM) as of September 30, 2025
ITA: $22.81 million (5.4% of AUM) as of September 30, 2025
As of October 20, 2025, shares were priced at $112.70, down 6.15% over the past year; shares have underperformed the S&P 500 by 18.27 percentage points over the same period.
Company Overview
Revenue (TTM)
$328.62 billion
Net Income (TTM)
$32.31 billion
Dividend Yield
3.42%
Price (as of market close 2025-10-20)
$112.70
Company Snapshot
Exxon Mobil Corporation is one of the world's largest integrated energy companies, with a diversified portfolio spanning oil, gas, and chemicals. It produces and markets crude oil, natural gas, petroleum products, and petrochemicals, including olefins, polyolefins, and aromatics.
The company operates through upstream, downstream, and chemical segments, generating revenue from exploration, production, refining, and specialty chemical manufacturing.
Exxon Mobil serves a global customer base, including industrial, commercial, and governmental clients across energy, transportation, and chemical sectors.
Foolish take
McElhenny Sheffield, a Dallas-based investment management firm, recently disclosed a sale of $4.8 million worth of Exxon Mobil stock. This transaction represented a sale of more than half of the firm's total holdings of Exxon Mobil stock. Here's what the sale means for average investors.
While at first blush, the transaction looks bearish for Exxon Mobil, some context is needed. Investors would do well to remember that Exxon Mobil stock has performed quite well over the last few years.
Dating back to 2020, shares have advanced by 330%, equating to a compound annual growth rate (CAGR) of 33.9%. That's a fantastic return which outperforms both the S&P 500 and the energy sector, as represented by the Energy Select Sector SPDR Fund (XLE). The S&P 500, for example, has generated at total return of 115%, with a CAGR of 16.6% over the last five years. The XLE has generated a total return of 265% with a CAGR of 29.6%.
In other words, this transaction could represent profit-taking, rather than a meaningful shift in sentiment. In any case, retail investors would be wise to still consider Exxon Mobil as one of the world's preeminent companies, given its enormous role in fulfilling the globe's energy needs.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing their holdings in U.S. securities.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Stake: The ownership interest or amount of shares held in a particular company or asset.
Top holdings: The largest individual investments held by a fund, usually ranked by portfolio weight or value.
Dividend yield: Annual dividends paid by a company divided by its share price, expressed as a percentage.
Upstream: The segment of the oil and gas industry focused on exploration and production of raw materials.
Downstream: The segment involving refining, marketing, and distribution of finished petroleum products.
Petrochemicals: Chemical products derived from petroleum or natural gas, used in manufacturing plastics and other materials.
Olefins: A group of petrochemicals used as building blocks for plastics and other chemicals.
Polyolefins: A type of polymer produced from olefins, commonly used in packaging and plastics.
TTM: The 12-month period ending with the most recent quarterly report.
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Jake Lerch has positions in ExxonMobil and Invesco QQQ Trust. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Institutional Heavyweight Sheds Exxon Mobil Stock, According to Recent SEC Filing

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the ProShares Ultra S&P500 (Symbol: SSO) where we have detected an approximate $288.2 million dollar outflow -- that's a 3.8% decrease week over week (from 65,400,000 to 62,900,000). Among the largest underlying components of SSO, in trading today Exxon Mobil Corp (Symbol: XOM) is trading flat, Mastercard Inc (Symbol: MA) is down about 0.2%, and Bank of America Corp (Symbol: BAC) is up by about 0.5%. For a complete list of holdings, visit the SSO Holdings page » The chart below shows the one year price performance of SSO, versus its 200 day moving average:
Looking at the chart above, SSO's low point in its 52 week range is $60.84 per share, with $117.4399 as the 52 week high point — that compares with a last trade of $117.10. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Institutional Holders of GNOV
Funds Holding RMT
QSI Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy ETF Outflows: SSO, XOM, MA, BAC

In the energy space, Exxon Mobil Corporation XOM and Enterprise ProductsPartners LP EPD are two giants. Over the past year, XOM has gained a marginal 0.6%, underperforming EPD’s 14% jump. Therefore, is Enterprise Products a better stock?
One-Year Price Chart
Image Source: Zacks Investment Research
Notably, price is not the only parameter to underline the attractiveness of any stock, although it reflects investors’ preferences in every business phase. Hence, before coming to investment conclusions, we need to analyze the fundamentals and overall business environment of both stocks.
ExxonMobil’s Broader Business Exposure
ExxonMobil is an integrated energy giant, having exposure to upstream, downstream, chemicals and low-carbon solutions. The energy major’s exploration and production activities span across the Permian, the most prolific resource in the United States, and offshore Guyana. With huge oil and natural gas resources in these two premium regions, ExxonMobil’s production outlook seems bright.
Also, from its downstream and chemicals businesses, XOM produces premium-quality products and lower-emission fuels, thereby adapting to the evolving demand.
Enterprise Products, however, is not an integrated energy company like XOM. EPD primarily focuses on midstream operations, with a pipeline network spanning more than 50,000 miles that transports oil, gas, refined petroleum products, and petrochemicals. Although EPD generates stable fee-based revenues, the partnership is lagging in broader business exposure.
Stronger Balance Sheet of XOM
ExxonMobil has a significantly lower exposure to debt capital, which is reflected in its debt-to-capitalization of 12.6%. Thus, when the business environment turns unfavorable, the integrated energy major can rely on its robust balance sheet to sail through the market uncertainty.
On the contrary, Enterprise Products’ debt-to-capitalization of 52.3% reflects considerably more debt exposure than XOM, although in the midstream space, EPD’s credit rating is the highest. ExxonMobil, by comparison, operates on a much larger scale, with extensive global operations spanning six continents, underscoring its superior financial strength and flexibility.
Image Source: Zacks Investment Research
XOM vs. EPD: Which is a Better Stock?
XOM is also highly focused on returning capital to shareholders. Notably, for more than four decades, ExxonMobil has been rewarding shareholders with consecutive annual dividend hikes.
On the flip side, EPD’s significant Permian dependence poses a concern. To feed its pipelines and processing plants, Enterprise Products has a considerable reliance on the Permian, the most prolific oil and gas shale play in the United States. On its second-quarter 2025earnings call EPD revealed that most of the core oil-producing regions in the Permian have already been used up, and the exploration and production companies are now increasingly focusing on those areas that are rich in natural gas.
Thus, the composition of commodities that EPD will be transporting in the coming days will probably be weighted more toward natural gas. This will likely create pressure on EPD’s profit margin as natural gas and NGL are less profitable than oil at the wellhead, considering energy density and transport costs.
Thus, considering the overall business environment of both stocks, ExxonMobil seems to be a better player in the energy space with more upside potential, and hence, investors who own the stock can hold onto it. XOM currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
On the contrary, with EPD’s overall outlook remaining bleak, it would be a wiser decision to stay away from the overvalued stock, carrying a Zacks Rank #4 (Sell). The overvaluation is reflected in the fact that Enterprise Products trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 10.04X, above XOM’s 7.40X.
Image Source: Zacks Investment Research
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Should Investors Retain ExxonMobil & Sell Enterprise Products Now?

Oil prices have been trending lower all year, recently testing a key level of support. But that narrative shifted sharply this week. Following a fresh round of US sanctions targeting Russian oil exports and putting major buyers like India and China in the crosshairs, WTI crude has surged nearly 10% just this week off its lows.
After months of rising supply and weakening prices, this escalation has sparked a powerful rebound in oil and reignited momentum across leading energy names. Par Pacific (PARR) and Exxon Mobil (XOM) stand out for their strong price action, healthy cash flows, and favorable Zacks Ranks.
With crude prices firming, interest rates moving lower, and the broader economy still resilient, energy stocks may be on the cusp of a new bull run, ending nearly two years of stagnation.
Image Source: TradingView
Exxon Mobil: Stock on the Verge of Major Breakout
Exxon Mobil stands out as one of the most technically compelling setups in the entire energy sector. While it does not currently enjoying upward trending earnings estimate revisions, its chart and massive cash flows more than make up for it.
From a fundamental perspective, Exxon’s position remains exceptionally strong. The company is generating a free cash flow yield of roughly 6.9%, well above its 10-year median of 4.8%. Exxon has steadily used its massive cash generation to fund dividends, repurchase shares, and invest in new energy projects, all while maintaining one of the strongest balance sheets among global majors.
Turning to the technical picture, the real story here unfolds on the long-term chart. For over two years, XOM’s stock price has been consolidating within a broad, well-defined trading range. This sideways movement has formed a large bull flag pattern, suggesting that the stock has been quietly building energy for its next major move.
Currently, XOM is pressing against the upper boundary of that pattern around the $117 resistance level. A decisive breakout above this zone would mark the stock’s first significant move to new highs since late 2024 and could trigger a powerful upside continuation. With crude oil prices rebounding sharply in recent sessions, this breakout setup may finally be primed to play out.
Image Source: TradingView
Parr Pacific: Shares Rally on Earnings Upgrades
Par Pacific has seen a dramatic turnaround in sentiment thanks to a wave of upward earnings revisions over the past two months, earning it a Zacks Rank #1 (Strong Buy) rating. Analyst estimates have surged by as much as +249% for the next quarter and +113% for the current year, reflecting a sharp improvement in profitability expectations as refining margins and demand dynamics strengthen. Despite this upgrade cycle, the stock remains attractively valued, trading at just 10.4x forward earnings.
Image Source: Zacks Investment Research
From a technical standpoint, PARR has been one of the standout performers in the energy sector. Until recently, the stock had been coiling within a bullish momentum pattern, suggesting a buildup of buying pressure beneath the surface. That tension finally released this week, as shares staged a major breakout, confirming the bullish setup that had been developing for months.
While the initial breakout move may have already played out, the combination of improving fundamentals, favorable industry trends, and strengthening oil prices suggests there could still be meaningful upside ahead. Even after the surge, PARR remains a compelling mid-cap energy name benefiting from both earnings momentum and sector tailwinds.
Image Source: TradingView
Should Investors Buy Shares in XOM and PARR?
After nearly two years of sluggish performance, the energy sector is starting to show signs of life again. The combination of rebounding oil prices, easing financial conditions, and resilient global demand is creating the perfect setup for a renewed uptrend in select energy names.
Exxon Mobil offers a steady, large-cap way to play the move, backed by strong free cash flow, a reliable dividend, while Par Pacific brings higher volatility but also higher return potential. With surging earnings estimates and a confirmed technical breakout already underway.
Together, they offer balanced exposure to what could be the start of a powerful new bull phase in energy stocks.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This Sector Is About to Surge: 2 Energy Stocks Set to Breakout

Key Points
Buffett favors companies with good management, reliable revenue, strong earnings, and a clear competitive moat.
Berkshire Hathaway's leader recognizes the importance of a diversified portfolio.
Warren Buffett can teach us a lot about investing. And he's got 60 years of credentials in leading Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) to back it up.
Buffett favors a buy-and-hold investing style in which he looks for companies with strong management, a great competitive moat, impressive earnings, solid profits, and, ideally, a good dividend. From this formula, Buffett helped turn Berkshire Hathaway into a $1 trillion conglomerate.
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He also beats the market. Since he took the reins at Berkshire Hathaway, the company's investment portfolio has generated a compound annual gain of 19.9% versus the S&P 500's annual gain of 10.4% from 1965 through 2024. That means Berkshire Hathaway enjoyed gains of 5,502,284% versus the index's return of 39,054%.
And here's one more lesson that Buffett teaches -- the importance of diversification. Berkshire Hathaway's portfolio includes dozens of companies, some of them being the best-known in the world. Buffett knows that you shouldn't put all your eggs in one or two stocks. You need to spread it around.
So, let's create an ideal Buffett-inspired portfolio comprised of some of Berkshire Hathaway's holdings. Using fractional shares, we'll divide a hypothetical portfolio of $5,000 equally into four stocks, which represent a variety of industries. Here's how it shakes down, investing $1,250 into each.
Amazon
Buffett doesn't invest in a lot of tech stocks, but he made an exception for Amazon (NASDAQ: AMZN). Amazon has a dominant position as an e-commerce company, bringing in $136.8 billion in revenue in the second quarter alone. But Amazon Web Services (AWS) is the profit driver for Amazon stock, growing 17% from a year ago and accounting for more than half of Amazon's total profit.
Amazon stock is little changed on the year, but the company's growth story is clear, particularly as more companies look to migrate to the cloud -- where Amazon has a leading position with 30% of the global cloud computing market. You can buy 5.6 shares of Amazon stock with your $1,250 investment.
American Express
Berkshire Hathaway also has stock in Mastercard and Visa, but my pick here is American Express (NYSE: AXP) for a couple of reasons. First, the company has an extra income stream -- it not only issues cards like Visa and Mastercard, but it also has its own payment network from which it makes loans and earns income from the interest. American Express reported $5.4 billion in loan income in the third quarter of fiscal 2025, up 10% from a year ago.
American Express also offers a small dividend, with a yield of 0.9%, which is always a welcome addition to a portfolio. With the stock currently around $350, you'll get roughly 3.5 shares with your $1,250 investment.
Chevron
Chevron (NYSE: CVX) is a consolidated energy company that just got bigger. It recently completed its $55 billion acquisition of Hess, beating out ExxonMobil in a legal battle that gives Chevron access to the Guyana Stabroek Block's 11 billion barrels of oil.
The company's earnings have suffered this year as oil prices have fallen, but Chevron still prints money. Revenue of $44.8 billion in the second quarter was down from $51.2 billion a year ago. And earnings slipped from $4.4 billion and $2.43 per share to $2.49 billion and $1.45 per share.
But remember, you're buying Chevron here as a long-term play, and I don't mind getting in while it's slightly underperforming the market. The 4.4% dividend yield is a nice kicker as well. You can get just over eight shares of Chevron stock.
Coca-Cola
Remember, Buffett likes companies that have a great competitive moat. That's why when you're looking for consumer staples companies, Coca-Cola (NYSE: KO) stands out. Coca-Cola has a 48% market share in the U.S. soft drink market, and it also sells water, sports drinks, juices, coffee, and alcohol-infused drinks.
The company just posted third-quarter earnings, in which net revenue jumped by 5% from a year ago to $12.5 billion and earnings per share rose 30% to $0.86. Coca-Cola also provides a dividend yield of 3% -- making this a delicious addition to your portfolio.
Priced at just $71, you can add more than 17 shares of Coca-Cola stock with your $1,250 allotment.
The power of compounding
There are a lot of ways you can make a Buffett-flavored portfolio for the long term. And while this is just a suggestion, the most important thing you can do is to consistently add to your holdings and reinvest your dividend returns to accelerate your growth.
Over time, and by using the power of compounding returns, you will be able to watch your portfolio grow -- just like Warren Buffett.
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American Express is an advertising partner of Motley Fool Money. Patrick Sanders has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon, Berkshire Hathaway, Chevron, Mastercard, and Visa. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The Best Warren Buffett Stocks to Buy With $5,000 Right Now

In the latest close session, Exxon Mobil (XOM) was up +1.11% at $115.98. The stock's performance was ahead of the S&P 500's daily gain of 0.58%. Meanwhile, the Dow experienced a rise of 0.31%, and the technology-dominated Nasdaq saw an increase of 0.89%.
The stock of oil and natural gas company has risen by 0.13% in the past month, leading the Oils-Energy sector's loss of 1.02% and undershooting the S&P 500's gain of 0.16%.
Market participants will be closely following the financial results of Exxon Mobil in its upcoming release. The company plans to announce its earnings on October 31, 2025. On that day, Exxon Mobil is projected to report earnings of $1.78 per share, which would represent a year-over-year decline of 7.29%. In the meantime, our current consensus estimate forecasts the revenue to be $86.77 billion, indicating a 3.61% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $6.79 per share and revenue of $331.32 billion, indicating changes of -12.84% and -5.22%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Exxon Mobil. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 1.48% rise in the Zacks Consensus EPS estimate. As of now, Exxon Mobil holds a Zacks Rank of #3 (Hold).
In terms of valuation, Exxon Mobil is currently trading at a Forward P/E ratio of 16.89. Its industry sports an average Forward P/E of 10.73, so one might conclude that Exxon Mobil is trading at a premium comparatively.
Meanwhile, XOM's PEG ratio is currently 2.03. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Integrated - International industry was having an average PEG ratio of 1.8.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 220, finds itself in the bottom 11% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Exxon Mobil (XOM) Rises Higher Than Market: Key Facts

Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Riot Platforms Inc (Symbol: RIOT), where a total volume of 166,862 contracts has been traded thus far today, a contract volume which is representative of approximately 16.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 54.4% of RIOT's average daily trading volume over the past month, of 30.7 million shares. Particularly high volume was seen for the $11 strike put option expiring January 16, 2026, with 101,908 contracts trading so far today, representing approximately 10.2 million underlying shares of RIOT. Below is a chart showing RIOT's trailing twelve month trading history, with the $11 strike highlighted in orange:
Exxon Mobil Corp (Symbol: XOM) saw options trading volume of 71,741 contracts, representing approximately 7.2 million underlying shares or approximately 54.1% of XOM's average daily trading volume over the past month, of 13.3 million shares. Especially high volume was seen for the $125 strike call option expiring January 16, 2026, with 5,824 contracts trading so far today, representing approximately 582,400 underlying shares of XOM. Below is a chart showing XOM's trailing twelve month trading history, with the $125 strike highlighted in orange:
And Zoom Communications Inc (Symbol: ZM) saw options trading volume of 13,058 contracts, representing approximately 1.3 million underlying shares or approximately 53.5% of ZM's average daily trading volume over the past month, of 2.4 million shares. Particularly high volume was seen for the $85 strike call option expiring October 24, 2025, with 4,034 contracts trading so far today, representing approximately 403,400 underlying shares of ZM. Below is a chart showing ZM's trailing twelve month trading history, with the $85 strike highlighted in orange:
For the various different available expirations for RIOT options, XOM options, or ZM options, visit StockOptionsChannel.com.
Also see:
Howard Marks Stock Picks
PRGO Historical Stock Prices
Institutional Holders of STZ
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy Thursday Option Activity: RIOT, XOM, ZM

The U.S. Energy Information Administration (“EIA”) expects rising inventories of oil to hurt crude prices. The soft crude pricing environment is thus likely to affect the integrated energy players' exploration and production operations. At the same time, the rising demand for renewable energy adds uncertainty to the prospects of the Zacks Oil and Gas Integrated International industry, creating a bleak outlook.
Among the companies in the industry that will probably survive the business challenges are Exxon Mobil Corporation XOM, Chevron Corporation CVX and BP plc BP.
About the Industry
The Zacks Oil and Gas Integrated International industry covers companies primarily involved in upstream, midstream and downstream operations. These companies have upstream businesses in the United States (including prolific shale plays and the deepwater Gulf of Mexico), Asia, South America, Africa, Australia and Europe. Midstream operations of energy companies entail transporting oil, natural gas liquids and refined petroleum products. In downstream businesses, the firms buy raw crude to produce refined petroleum products. The companies’ downstream activities involve chemical businesses that manufacture raw materials for making plastics. The integrated players are now gradually focusing on renewables, leading to the energy transition. The firms aim to lower emissions from operations and cut the carbon intensity of the products sold.
3 Trends Shaping the Future of the Industry
Soft Oil Price to Hurt Cash Flows: In its latest short-term energy outlook, EIA projected the average spot price for West Texas Intermediate crude at $65 per barrel for 2025 and $48.50 per barrel for 2026. Both the projected prices were significantly lower than $76.60 per barrel in 2024, per EIA data. The expectation for lower oil prices will probably lead to a decline in cash flows from the upstream business.
Slowdown in Production Growth to Hurt Upstream Business: There has been a slowdown in oil production growth in the upstream businesses of integrated energy companies in the United States due to shareholder demands for a greater focus on returning capital rather than investing in production expansion. As production growth slows, output decreases, which can lead to reduced revenues. Since upstream operations depend heavily on volume to generate income, any stagnation in production growth has a direct and negative impact on their bottom line.
Growing Demand for Renewables a Concern: Governments, investors and stakeholders are placing growing emphasis on addressing climate change, leading to an increased demand for renewable energy. Consequently, the demand for products reliant on oil, natural gas and natural gas liquids is expected to decline, with solar and wind energy gaining prominence in the energy landscape. The integrated energy firms are adversely impacted by these trends as they are primarily engaged in the production and transportation of fossil fuels, such as oil, and selling refined petroleum products.
Zacks Industry Rank Indicates Bearish Prospects
The Zacks Oil and Gas Integrated International industry is part of the broader Zacks Oil - Energy sector. It carries a Zacks Industry Rank #220, which places it in the bottom 9% of more than 250 Zacks industries.
The group’s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Before we present a few stocks that you may want to consider, let’s take a look at the industry’s recent stock market performance and valuation picture.
Industry Underperforms Sector and S&P 500
The Zacks Oil and Gas Integrated International industry has underperformed the broader Zacks Oil - Energy sector and the Zacks S&P 500 composite over the past year.
The industry has gained 3.6% over this period compared with the S&P 500’s surge of 19% and the broader sector’s improvement of 4.8%.
One-Year Price Performance
Industry's Current Valuation
Since oil and gas companies are debt-laden, it makes sense to value them based on the Enterprise Value/Earnings before Interest, Tax, Depreciation and Amortization (EV/EBITDA) ratio. This is because the valuation metric takes not just equity into account but also the level of debt.
On the basis of the trailing 12-month EV/EBITDA, the industry is currently trading at 4.50X, lower than the S&P 500’s 18.57X. It is also below the sector’s trailing 12-month EV/EBITDA of 5.05X.
Over the past five years, the industry has traded as high as 6.54X and as low as 2.75X, with a median of 4.12X.
Trailing 12-Month EV/EBITDA Ratio
3 Integrated International Stocks to Keep a Close Eye on
BP has been investing heavily in oil and natural gas operations since it estimated that 55% of the global energy is generated from the commodities. Currently carrying a Zacks Rank #3 (Hold), the British energy giant is planning upstream capital investment of $10 billion through 2027, a notable increase from $8.5 billion in 2024. With key oil and gas projects yet to come online, BP expects to increase its daily production volumes to 2.3 million to 2.5 million barrels in 2030. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Price and Consensus: BP
In the Permian, the most prolific basin in the United States, ExxonMobil has a strong presence. By the end of this decade, the energy major aims to boost its Permian production to 2.3 million barrels of oil equivalent (MMBoE/D), from roughly 1.6 MMBoE/D volumes it produced in the June quarter, thanks to the advanced technologies employed to enhance well recoveries.
In offshore Guyana, XOM has made massive oil and gas discoveries over the years, estimating the recoverable reserves at 11 billion barrels of oil equivalent. Notably, XOM carries a Zacks Rank #3.
Price and Consensus: XOM
Chevron is an integrated energy giant with a stable business model. In the Permian, the most prolific basin in the United States, CVX, with a Zacks Rank of 3, has a strong footprint. Also, the company’s downstream business is benefiting from the softer oil prices.
Price and Consensus: CVX
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Integrated Energy Stocks Standing Tall Despite Soft Oil Price

Investors in Exxon Mobil Corp (Symbol: XOM) saw new options become available today, for the December 5th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the XOM options chain for the new December 5th contracts and identified one put and one call contract of particular interest.
The put contract at the $108.00 strike price has a current bid of 50 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $108.00, but will also collect the premium, putting the cost basis of the shares at $107.50 (before broker commissions). To an investor already interested in purchasing shares of XOM, that could represent an attractive alternative to paying $115.55/share today.
Because the $108.00 strike represents an approximate 7% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 76%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 0.46% return on the cash commitment, or 3.93% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Exxon Mobil Corp, and highlighting in green where the $108.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $125.00 strike price has a current bid of 50 cents. If an investor was to purchase shares of XOM stock at the current price level of $115.55/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $125.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.61% if the stock gets called away at the December 5th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if XOM shares really soar, which is why looking at the trailing twelve month trading history for Exxon Mobil Corp, as well as studying the business fundamentals becomes important. Below is a chart showing XOM's trailing twelve month trading history, with the $125.00 strike highlighted in red:
Considering the fact that the $125.00 strike represents an approximate 8% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 77%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 0.43% boost of extra return to the investor, or 3.67% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 32%, while the implied volatility in the call contract example is 27%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $115.55) to be 24%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
Top Ten Hedge Funds Holding BUND
JOEZ Historical Stock Prices
CHRA market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Exxon Mobil Corporation

Price history and volume

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Investment risk — medium

Investment potential — high

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