Analyst Phil Gresh from JP Morgan research considers the stock attractive and recommends it with a Buy rating. The target price is unchanged at USD 76. | June 12, 2021
By Christopher M. Matthews Exxon Mobil Corp. is forming a business unit that will focus exclusively on technologies to lower carbon emissions, as the oil giant faces increasing pressure to step up its sustainability investments. Exxon said Monday that the new business, dubbed low carbon solutions, would invest $3 billion through 2025 on lower emission energy technologies, primarily on carbon capture and storage projects, which gather carbon emissions from industrial processes or directly from the air and deposit them underground. Those investments would represent roughly 3% to 4% of Exxon s planned annual capital expenditures. Exxon has a large research-and-development division that has invested in carbon capture for years, and Exxon says it has captured more carbon than any other company. Currently, the only large-scale use for captured carbon is to help produce more fossil fuels by pumping in the gas to squeeze more oil and gas out of the ground.
Exxon Mobil Corporation is currently at $49.34, up $0.92 or 1.9% Would be highest close since June 10, 2020, when it closed at $50.65 Currently up 10 of the past 11 days . | January 14, 2021