XOM Stock at a Record High: How Much of ExxonMobil’s Price Depends on the Diesel Crisis?

ExxonMobil increased its stake in the Rovuma LNG project to 50% by swapping assets with Eni. The $30B project, involving ExxonMobil, Eni, and CNPC, aims to produce 18.6M tonnes of LNG annually, with first operations planned for 2031. ExxonMobil committed $1.1B to early contracts, signaling confidence in the project's timeline and market demand.

ExxonMobil increased its stake in Mozambique’s Rovuma LNG project to 50% via an asset swap with Eni, aiming for a final investment decision by late 2026. The deal consolidates control and accelerates development amid security challenges. ExxonMobil awarded $1.1B in pre-investment contracts, targeting startup around 2031. Eni focuses on floating LNG projects, reducing onshore exposure.

Altria (MO), Gilead (GILD), and ExxonMobil (XOM) reached 52-week highs after strong Q3 results. MO reported $1.52 EPS, raised guidance, and increased buybacks. GILD exceeded revenue/earnings expectations, boosting HIV growth outlook. XOM posted $4.23 EPS, raised dividend, and maintained buyback plan. All three stocks gained 1-3% on the day.

Guyana's Natural Resources Minister confirmed ExxonMobil's new oil discovery, Rockhead-1, in the Stabroek Block. Tests are ongoing to assess the resource's value. The discovery is near the 2018 Ranger-1 find, with appraisal activities continuing. Exxon plans to submit a permit application next year. Guyana's oil reserves are around 11 billion barrels, with Exxon having made 47 discoveries since 2015.

ExxonMobil raised its quarterly dividend by 3.9%, marking 44 consecutive years of dividend growth. Its free cash flow surged 90% year-over-year to $39 billion. The company is using excess cash for share buybacks and debt reduction, citing variable cash flow due to oil price fluctuations.

ExxonMobil (XOM) reported Q3 2026 adjusted earnings of $17.5B, beating estimates, driven by record refining margins and strong cash flow. Revenue fell short, but earnings per share exceeded forecasts. The company reduced net debt and increased shareholder returns, with year-to-date free cash flow reaching $39B. Management highlighted progress toward 2030 targets, including earnings and cash flow growth.