Market Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil shuts one of its offices in Azerbaijan: tax ministry

[Reuters] – U.S. energy company ExxonMobil (XOM.N) has closed one of its offices in Azerbaijan, the country’s tax ministry said on Wednesday, the result of a delayed oil project. The office was linked to an oil production project on the Araz-Alov-Sharg oilfields in the Caspian Sea. The project is frozen until a decision is taken about the status of the Caspian Sea between Azerbaijan and Iran. Read more on this. Exxon Mobil Corporation (XOM) , with a current value of $342.91B, opened at $81.75. Looking at the stock , its one day range is $81.16 to $82.78 with a one year range of $66.55 to $91.99. XOM shares are currently priced at 33.15x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 17.02x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.92 per share annually in dividends, yielding 3.60%. According to a consensus of 16 analysts, the earnings estimate of $0.36 per share would be $0.81 worse than the year-ago quarter and a $0.52 sequential decrease. The full-year EPS estimate is $2.45 which would be a $1.40 setback than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $50.32 Billion. If realized, that would be a 25.58% decrease over the year-ago quarter. Recently, Tudor Pickering downgraded XOM from Hold to Sell (Jan 26, 2016). Previously, Raymond James downgraded XOM from Mkt Perform to Underperform. Given all the information above, we should disclose to readers that the average price target is $79.86, which is 2.31% below than it opened this morning. See more in (NYSE:XOM) Similar Articles: Market Update: Exxon Mobil Corporation (NYSE:XOM) – Exxon Mobil Corporation Declares First Quarter Dividend Market Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil Contributes to North Texas Tornado Recovery and Relief Efforts Company Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil Starts Oil Production at Erha North Phase 2 Project Ahead of Schedule and Well Under Budget