In a statement at the LNGA conference in Singapore, Frank Kretschmer, Exxon Mobils senior Vice President for LNG Marketing in Asia Pacific, said the company intended to further its plans regarding the establishment of a liquefied natural gas (LNG) export facility in Mozambique.
Exxon Mobil shares closed lower for a second consecutive trading session on Wednesday. It has also been the steepest daily loss since February 5th. The stock went down 2.27% ($1.76) to $75.74, after touching an intraday low at $75.70, or a price level not seen since February 22nd ($75.19).
In the week ended on February 25th the shares of the energy company added 1.29% to their market value compared to a week ago, which marked a second consecutive period of gains.
However, the stock retreated 13.26% in February, which marked the first loss out of three months. It has also been the worst monthly performance in more than ten years.
For the entire past year, the shares of the NYSE-listed energy giant went down 7.33% following a 15.79% surge in 2016.
Exxons Kretschmer also said the group expected to bolster the LNG export operations it already has in Qatar, along with another expansion in Papua New Guinea.
Meanwhile, the energy giant stated that there has not been any indication so far that the latest earthquake in Papua New Guinea has inflicted damage upon the 435-mile pipeline, which transports gas to its facility in the area.
The 7.5-magnitude quake, which struck in proximity to the boundary of Hela and Southern Highlands Provinces in Papua New Guinea on February 26th, urged Exxon to close its $19-billion liquefied natural gas facility due to fears the gas field infrastructure could be damaged.
According to CNN Money, the 21 analysts, offering 12-month forecasts regarding Exxon Mobil’s stock price, have a median target of $86.00, with a high estimate of $102.00 and a low estimate of $70.00. The median estimate is a 13.55% surge compared to the closing price of $75.74 on February 28th.
The same media also reported that 14 out of 25 surveyed investment analysts had rated Exxon Mobil’s stock as “Hold”, while 6 – as “Buy”. On the other hand, 5 analysts had recommended selling the stock.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the Exxon Mobil stock are presented as follows:
R1 – $75.97
R2 – $76.21
R3 (Range Resistance – Sell) – $76.44
R4 (Long Breakout) – $77.14
R5 (Breakout Target 1) – $77.96
R6 (Breakout Target 2) – $78.29
S1 – $75.51
S2 – $75.27
S3 (Range Support – Buy) – $75.04
S4 (Short Breakout) – $74.34
S5 (Breakout Target 1) – $73.52
S6 (Breakout Target 2) – $73.19
By using the traditional method of calculation, the weekly levels of importance for Exxon Mobil Corporation (XOM) are presented as follows:
Central Pivot Point – $76.67
R1 – $78.48
R2 – $79.42
R3 – $81.23
R4 – $83.03
S1 – $75.73
S2 – $73.92
S3 – $72.98
S4 – $72.03
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
