Exxon Boosts Quarterly Dividend After Four Fold Increase In Q3 Earnings
Exxon Mobil Corp (NYSE: XOM) has posted a Q3 profit of $4.45 per share, a robust increase over $1.58 a year ago versus the consensus of $3.65. But the company’s revenue, at $112.07 billion, jumped 52% Y/Y, missing the $115.60 billion analysts were expecting.
Q3 earnings and cash flow from operating activities increased to $19.7 billion and $24.4 billion, respectively, as strong volume performance, including record refining volumes, cost control, and higher natural gas realizations, more than offset lower crude realizations and weaker industry refining margins.
Also Read:Exxon Mobil Shows Initial Interest In Denbury Takeover.
The oil giant raised the quarterly by $0.03 to $0.91 per share, payable on December 9th. The company said that the increase reflects confidence in its strategy, business performance, and financial strength.
Exxon kept its capital investments at $5.73 billion for Q3 and $15.24 billion in 9M.
The Permian delivered record production in the quarter of nearly 560,000 oil-equivalent barrels a day.
Oil-equivalent production in the third quarter was 3.7 million barrels per day, +1.39% Y/Y.
Price Action: XOM shares are up 0.68% at $106.60 during the premarket session on the last check Friday.
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