ExxonMobil, Chevron stock price outlook amid an FTC probe push

Written by

Written on Nov 1, 2023

Reading time 3 minutes

ExxonMobil and Chevron's stocks fluctuate as FTC probe looms.
ExxonMobil shares prices stands at $106.20 while, Chevron shares stands at $144.58 with dividend yields.
FTC investigation's impact on the energy sector remains uncertain.

ExxonMobil and Chevron, two of the energy industry’s giants, have found themselves under the scrutiny of federal regulators as some Democratic lawmakers demand for a Federal Trade Commission (FTC) probe into their recent acquisitions.

The potential implications for their stock prices, if the FTC is to go ahead with the probe, have drawn the attention of investors and industry analysts.

Push by Democratic lawmakers for a Probe

The stock price movements of ExxonMobil and Chevron have garnered attention due to the call by some Democratic lawmakers, including Senate Majority Leader Chuck Schumer and Senator Elizabeth Warren, for an FTC probe into the recent acquisitions made by both companies.

The lawmakers are concerned that these mega takeovers could harm competition, potentially raise consumer prices, limit US production, hurt smaller firms, and suppress wages.

The FTC’s response to this push and any potential regulatory actions will be closely monitored by investors and market observers. The outcome of the probe may have implications not only for ExxonMobil and Chevron but also for the broader energy sector.

ExxonMobil stock price outlook

ExxonMobil Corporation (NYSE: XOM) has seen its stock price experience minor fluctuations in recent trading sessions.

As of 02:23 PM EDT, the company’s stock was trading at $106.20, reflecting a 0.33% increase for the day. ExxonMobil’s 52-week range has seen it trade between $98.02 and $120.70, with a market capitalization of $420.545 billion.

With an ex-dividend date of November 14, 2023, ExxonMobil announced a cash dividend of $0.95. The forward dividend and yield stand at $3.80, equivalent to a 3.59% yield.

The stock’s PE ratio is 10.54, and the earnings per share (EPS) is $10.07, reflecting financial stability. Investors and analysts will be closely monitoring ExxonMobil as it approaches its earnings date, scheduled from January 29, 2024, to February 02, 2024.

Chevron stock price outlook

Chevron Corporation (NYSE: CVX), on the other hand, faced a slight dip in its stock price, trading at $144.58 as of 02:21 PM EDT, representing a 0.79% decrease for the day. Chevron’s 52-week range spans from $143.96 to $189.68, with a market capitalization of $275.853 billion.

Having announced a cash dividend of $1.51 with an ex-date of November 16, 2023, Chevron offers a forward dividend and yield of $6.04, amounting to a 4.14% yield.

The stock’s PE ratio (TTM) is 10.74, while the earnings per share (EPS) (TTM) stands at $13.47. Chevron’s earnings date is set for January 25, 2024, to January 29, 2024, providing further insights into the company’s financial health.