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Market Update (NYSE:XOM): ExxonMobil Settles Negligence Lawsuits Over Deadly Texas Refinery Blast

[PR Newswire] – BEAUMONT, Texas, May 12, 2016 /PRNewswire/ — More than three years after a deadly explosion at its Beaumont, Texas, refinery, ExxonMobil Corp. (XOM) has settled negligence lawsuits filed by the parents of two workers who were killed and six others who were injured in the April 17, 2013 blast. A court order signed May 10, 2016 resolves claims filed by the parents of the deceased and injured workers, attorneys with Beaumont-based Provost Umphrey Law Firm, LLP, announced. The initial lawsuits were filed following the explosion and fire that occurred at a heat exchanger unit inside the ExxonMobil refinery. Read more on this. Exxon Mobil Corporation (XOM) , currently valued at $371.91B, started the session at $89.80. Today’s price range has been between $89.15 and $89.86 per share with a trailing 52-week range being $66.55 to $90.00. Priced at 34.16x this year’s forecasted earnings, XOM shares are relatively expensive compared to the industry’s 1.44x forward p/e ratio. And for income investors, the company pays shareholders $3.00 per share annually in dividends, yielding 3.39%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $0.59 per share, which would be $0.41 worse than the year-ago quarter and a $0.06 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $2.60, which would be a $1.25 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $56.87 Billion. If realized, that would be a 23.26% decrease over the year-ago quarter. In terms of ratings, Nomura Initiated XOM at Reduce (Mar 18, 2016). Previously, Tudor Pickering downgraded XOM from Hold to Sell. With the above information in mind, readers should note that the average price target is $84.48, which is 5.92% below where the stock opened this morning. See more in (NYSE:XOM) Similar Articles: Market Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil to Release 2015 Financial and Operating Review Market Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil Announces 2015 Reserves Additions Market Update: Exxon Mobil Corporation (NYSE:XOM) – ExxonMobil Contributes to North Texas Tornado Recovery and Relief Efforts
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