Exxon Mobil Faces Oil Spill Penalty, But How Much?

The Pipeline and Hazardous Materials Safety Administration (PHMSA) found Exxon Mobil Corp. (NYSE:XOM) in probable violation of 9 safety rules, with a preliminary civil penalty estimate at $2,659,200 in total — according to the Administration’s “Notice of Probable Violation and Proposed Compliance Order.” The fine being addressed was made in regards to a rupture of Exxon’s Pegasus Pipeline near Mayflower, Arkansas.

  

The accident resulted in the release of “an estimated 5,000 barrels of crude oil in a high consequence area,” based on investigation from the PHMSA upon completion of inspection the Administration is looking into a civil suit. Read more

Exxon Mobil Corporation (NYSE:XOM) – Why Haven’t ExxonMobil and Chevron Crashed?

The Dow Jones Industrials’ two energy stocks have done well even as crude prices plunged below the $100 level. Here’s why ExxonMobil and Chevron have survived oil’s drop.

Exxon Mobil Corporation (XOM), valued at $403.25B, started the session at $91.80. Shares have traded today between $91.47 and $92.66 per share and has traded between $84.70 and $95.49 over the past year. Exxon (XOM) shares are currently priced at 12.45x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 9.01x earnings multiple for the same period. And for passive income investors, the company pays shareholders $2.52 per share annually in dividends, yielding 2.80%.

In a review of the consensus earnings estimate this quarter, 20 sell-side analysts are looking at $1.97 per share, which would be $0.23 worse than the year-ago quarter and a $0.02 sequential increase. Investors should also note that the full-year EPS estimate of $7.49 is a $0.58 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $110.79 Billion. If realized, that would be a 3.80% decrease over the year-ago quarter. Read more

Dow Component Exxon Mobil Corporation (XOM) To Go Ex-dividend Tomorrow

The Dow Jones Industrial Average time, 93.7 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 375.7 million. The NYSE advances/declines ratio sits at 1,758 issues advancing vs. 1,077 declining with 128 unchanged.

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Thursday, November 7, 2013 is the ex-dividend date for Dow component Exxon Mobil Corporation (NYSE:XOM). Owners of shares as of market close today will be eligible for a dividend of 63 cents per share. At a price of $92.83 as of 10:30 a.m. ET, the dividend yield is 2.7% compared to the average Dow component yield of 2.6%. Read more.

Exxon faces $2.7 million fine for Arkansas pipeline spill

Exxon Mobil Pipeline Co (XOM) faces a fine of nearly $2.7 million for a pipeline spill of thousands of barrels of Canadian crude oil in an Arkansas suburb last spring, the U.S. pipeline safety office said on Wednesday. The Pipeline and Hazardous Materials Safety Administration (PHMSA) found nine probable violations of safety rules in the rupture of the nearly 70-year old Pegasus pipeline that forced residents to evacuate their homes.

The 95,000 barrel-per-day pipeline has been shut since March 29 after spilling about 5,000 barrels in Mayflower, Arkansas. In August, PHMSA said an original manufacturing defect by a now defunct Youngstown, Ohio steel pipe company appeared to have led to the accident. On Wednesday, the agency said Exxon did not adequately account for risks on the pipeline. Read more.