Exxon Mobil: New Highs On Utica Shale, Rosneft In 2013
By Dividend Kings:Exxon Mobil (XOM) released its first quarter 2012 earnings on April 26, and though its earnings missed analyst expectations, the stock still closed the day around $86, 1% higher than its intraday low. An analyst poll shortly before the earnings release predicted earnings per share of $2.10. Exxon Mobil's reported earnings per share came in at $2. Overall, Exxon Mobil reported a fall in profits of 11%. Comparatively, competitor Royal Dutch Shell (RDS.A) also released earnings on April 26. In contrast to Exxon Mobil, Shell reported a profit increase of 11% compared to the same quarter last year.Exxon Mobil indicated that lower US natural gas prices were responsible for $300 million of its decline in earnings. In response to low dry gas prices, Exxon Mobil is deploying a similar strategy to competitor BP (BP), increasing its focus on liquids while downplaying its dry gas drilling. Exxon Mobil's strategy willComplete Story »
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