what trade was this?  I like XOM under 70 for a long but havn't been trading this in my options account.  Hold a good amount in my IRA though.

 

 

SEP 70 puts...hit below 70, so I figured there might be some selling...bounced right back, and I got out just in time lol

 

 

inverse H&S pattern played out on XOM....broke out some

Usually sells off some after earnings just fyi.  I believe they report january 20th or so, worth checking if playing to the upside.

 

ExxonMobil Posts Small Profit Beat, but Shares Move Lower

http://www.cnbc.com/id/46191153

ExxonMobil narrowly beat expectations for quarterly earnings Tuesday on strong revenue growth, though shares edged lower in premarket trading.

 

The world's largest publicly traded oil company[XOM  85.49    -0.34  (-0.4%)   ] posted fourth-quarter earnings excluding items of $1.97 per share, up from $1.85 a share in the year-earlier period.

 

The company said its earnings rose as higher oil prices made up for a drop in production.

 

Oil companies around the world benefited from a jump in oil prices.

 

Crude futures traded in New York jumped about 25 percent to end the fourth quarter at $98.83 per barrel. Brent prices gained 5 percent during the quarter.

 

However, analysts worried that a global economic slowdown would depress oil prices and pressure ExxonMobil's business.

"It's becoming more difficult, more expensive to produce oil," Chris Edmonds, managing partner at Enerecorp Partners, told CNBC. "The way they made their money was all on oil prices. Oil prices at 100-plus (dollars a barrel) are going to cover a lot of mistakes and a lot of difficulties."

 

The company spent $10 billion for capital expenditures in the quarter yet grew its profit little.

 

"When you have to spend $10 billion just to tread water, it's a tough business," Edmonds said. "It's becoming more difficult and more expensive. You've got to spend more to make money, and if oil prices come down it's going to be a challenge."

 

Revenue was $121.6 billion, an increase from $105.19 billion a year ago. Net profit was $9.4 billion, or $1.97 a share, matching Wall Street expectations. That compared with $9.25 billion, or $1.85 per share, a year earlier. Revenue rose 15.6 percent to $121.6 billion.

 

Analysts had expected the company to report earnings excluding items of $1.95 per share on $119.70 billion in revenue.

The company also announced $5 billion net share buybacks for the first quarter.

 

After the earnings announcement, the company's shares lost less than 1 percent in trading before the opening bell, though they had been up just before the earnings report.

 

The company has seen production from its oil fields decline as it invests heavily in U.S. natural gas fields. The shift so far hasn't paid off as natural gas prices have dropped.

 

For the full year, Exxon earned $41.1 billion, or $8.42 per share.

 

(Click here to get real-time quotes for ExxonMobil.)

 

Well with the way oil prices are and I'm guessing they are projecting Q1 earnings around $80-90 a barrel oil this could be a monster quarter.  I wouldn't be surprised if oil through summer averages $110 a barrel and exxon finally breaks $100 a share around june.

Anyone watching this? thinking of picking puts

Looking interesting but still in the larger wedge ( same with CVX )

 

puts could pan out

 

..Exxon Mobil sees dip in oil, gas output this year

Reuters – 37 minutes ago

......By Matt Daily

NEW YORK (Reuters) - Exxon Mobil Corp (NYS:XOM - News) said its 2012 oil and natural gas output would drop 3 percent from last year even as it increases spending to bring several large new projects on line, and its shares fell 1 percent.

Despite the expected drop in 2012, production should increase by an average of 1 to 2 percent annually through 2016, the company told analysts in New York on Thursday.

Oil companies like Exxon, Royal Dutch Shell Plc (LSE:RDSA.L - News) and BP Plc (LSE:BP.) have struggled to increase oil and gas output in recent years, forcing them to raise their spending to record levels to tap into difficult-to-reach fields.

Exxon, the world's largest nongovernment-controlled producer of oil and gas, saw production rise 1 percent last year to 4.5 million barrels of oil equivalent (BOE) per day.

That modest growth came as the company spent a total of $36.8 billion, just shy of the $37 billion it expects to spend annually for the next five years.

That spending will go toward nine major project startups this year and in 2013, the company said, followed by 12 projects in 2014, which will help it bring on new production of more than 1 million BOE per day over five years.

"The industry is in a period of high capital investment," Exxon Chief Executive Rex Tillerson told the meeting.

Spending on new projects is likely to push the company's return on capital employed (ROCE) this year below the 24 percent of 2011, he said.

Tillerson also said Exxon is committed to exploring in Iraq's autonomous Kurdish region, as well as to expanding its West Qurna output in southern Iraq.

Those contracts signed last year with the Kurdistan Regional Government have been labeled as illegal by Baghdad, which has threatened to freeze the company out of its massive fields should it proceed.

Iraq has set a deadline of the next few days for Exxon Mobil to explain its position on the Kurdish oil agreements, an Iraqi government spokesman said earlier this week.

"Obviously the country has a lot of issues it is dealing with, and we want to be helpful in that," Tillerson said.

I think Shell said the same thing a few months back....hhmm...maybe they're all saying it so we will be forced to drill offshore even more in the USA?..

could be....but then i wonder about the fact that we were a net exported of oil forget if it was for last month or last year

wow....bet that article was deleted from the internet asap...lol
 

 

gotta still be out there somewhere tho...either way if we were a net exporter of oil last month or last year thats enough to...well annoy me a tad

same here...and every other American as well...

 

 

 

wow...you were right...this is crazy....major news blaming it on oil imports when it is EXPORTING that is probably causing this shortage...wtf??

 

 

http://content.usatoday.com/communities/ondeadline/post/2012/02/us-exported-more-gasoline-than-imported-last-year/1

 

 

The secret to making a profit in refining these days is for refiners to source crude oil domestically and then sell the refined products to US consumers at prices based on imported oil.

This isn't considered price fixing??

 

yea thx...i needed that
just disgusting and infuriating

about the best way to describe it....made me sick when I read it...
 

 

just a glance

 

but imported oil is USED to make those products..which are exported out

 

oil is the starting material

 

US oil is also used to make those products as well...... paying for US oil prices ( lower ) and charging for imported oil prices ( higher )?...
 

 

 

Exxon First-Quarter Profit Drops as Output, Gas Decline

http://www.bloomberg.com/news/2012-04-26/exxon-first-quarter-profit-drops-as-output-gas-decline.html