Boston, MA 11\/04\/2013 (wallstreetpr) –\u00a0The share valuation of manufacturer and marketer of commodity petrochemical\u00a0Exxon Mobil Corporation (NYSE:XOM) jumped modestly last Friday, gaining 0.22% after the company posted largely solid Q3 which revealed increase in its production for the first time in more than two years. However, investors should note that XOM had its profit dip by 18% in the most recently reported quarter.<\/p>\n
The picture that comes from XOM is that of a company, aiming to scale up its returns to investors as well as increasing production. This makes this petrochemical company a perfect hold for long-term outlook investors. The company\u2019s Q3 numbers recognized a 2.4% fall in revenue to $112.37 billion. Due to increase in costs, the drop in revenue hurt its net earnings which fell by 18% to $7.87 billion. In the weak quarterly earnings, it can be seen that the generally troubled refining condition caught up with XOM as it did with most other major oil companies in the quarter.<\/p>\n
By stepping up its capital expenditure and driving up production, XOM was able to cushion itself from the poor refining condition to deliver encouraging figures. It witnessed an increase in oil-equivalent production of 1.5%. Due to higher commodity margins, XOM\u2019s chemical earnings went up about 30% to slightly over $1 billion. But significant drops were seen in the downstream earnings which gapped down 81% to $596 million.<\/p>\n
XOM exited Q3 with cash and cash equivalent of $5.7 billion. Its total debt was $21.3 billion, while $15.6 billion reflected its net debt position. The company witnessed a fall in its total revenue by 10.5% to $327.4 billion in the first nine months of F2013. The shareholder earnings also dropped 30.7% to stand $24.2 billion for the period.<\/p>\n
For the current fiscal year, the company could attain revenue in the region of $440 billion on earnings of about $32 billion. The company\u2019s stock is trading around $89.82 per share and it has 4395.39 billion in market cap.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 11\/04\/2013 (wallstreetpr) –\u00a0The share valuation of manufacturer and marketer of commodity petrochemical\u00a0Exxon Mobil Corporation (NYSE:XOM) jumped modestly last Friday, gaining 0.22% after the […]<\/p>\n","protected":false},"author":12,"featured_media":12231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3381,1991,696,233],"stock_ticker":[],"class_list":["post-12230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-exxon-mobil-corporation","tag-exxon-mobil-corporation-nysexom","tag-nysexom","tag-xom","entry"],"acf":[],"yoast_head":"\n