Exxon Mobil And Wells Fargo Lost $220 Billion In Market Value This Year–The U.S. Stock Market’s Biggest 2020 Losers (2024)

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Exxon Mobil And Wells Fargo Lost $220 Billion In Market Value This Year–The U.S. Stock Market’s Biggest 2020 Losers (2024)

FAQs

Exxon Mobil And Wells Fargo Lost $220 Billion In Market Value This Year–The U.S. Stock Market’s Biggest 2020 Losers? ›

Key Facts. Exxon Mobil and Wells Fargo shares have plunged an eye-popping 40% and 45% this year, respectively, tanking each firm's market value by roughly $120 billion and $100 billion–more than any other stock market loss incurred by a U.S. firm in 2020, according to Bloomberg data.

Has Exxon ever lost money? ›

ExxonMobil reported a net income of over 36 billion U.S. dollars in 2023. The only year in the period of consideration that ExxonMobil ended the year on a net loss was in 2020.

Why did Exxon leave the Dow? ›

Back in August 2020, S&P Dow Jones Indices swapped Exxon Mobil for Salesforce in the 30-stock Dow industrials. While the move was meant to make the 128-year-old index more representative of the economy, it has left investors tracking the Dow with less money than they would have had otherwise.

Why did Exxon stock drop in 2020? ›

The COVID-19 outbreak upended the oil market in 2020. It caused demand to fall off a cliff, which forced oil companies like Exxon to shift gears. Exxon initially responded by reducing its 2020 capital spending program by 30% and operating expenses by 15%. Image source: Getty Images.

How much did Exxon Mobil make last year? ›

Earnings excluding identified items were $10.0 billion, or $2.48 per share assuming dilution. For the full year 2023, the company reported earnings of $36.0 billion, or $8.89 per share assuming dilution.

Why are people quitting Exxon? ›

But a Bloomberg Businessweek investigation involving interviews with more than 40 current and former employees (many of whom requested anonymity because Exxon hasn't authorized them to speak publicly), as well as reviews of dozens of internal documents, reveals one overriding reason talent is fleeing: a culture that's ...

What is the Exxon scandal? ›

Documents reveal that ExxonMobil has known since the late 1970s that its products cause global warming. A decade later, the company ignored its own scientists and financed a campaign to deceive shareholders and the public about the realities and risks of climate change.

What company replaced Exxon on the Dow? ›

Salesforce replaced Exxon Mobil as a Dow component in August 2020, a shake-up seen as a sign of the energy sector's weakness and the tech sector's strength.

Did Exxon buy out Mobil? ›

With the deal, the two companies practically merged, with the new company's name containing both of the trade names of its immediate predecessors. However, the structure of the merger provided that Exxon was the surviving company and bought Mobil, rather than a new company being created.

Why is Exxon stock doing so well? ›

Exxon stock rose for six straight sessions. In its second attempt, shares climbed off the bottom of a flat base with a 123.75 buy point. Shares are rising along with the recent increase in oil prices. Energy stocks may get a lift if former President Donald Trump wins the upcoming presidential election.

Why is Exxon profits so high? ›

Exxon has also announced ambitious plans to extract lithium. But, for now, most of their profits come from oil and gas. Both companies say they expect fossil fuel demand will stay robust for decades. Last year, Exxon agreed to buy West Texas fracking giant Pioneer Natural Resources for nearly $60 billion in stock.

Does Exxon buy back stock? ›

Exxon Mobil Stock Buybacks (Quarterly): 3.011B for March 31, 2024.

What's the highest Exxon stock has ever been? ›

The latest closing stock price for Exxon as of July 22, 2024 is 115.27.
  • The all-time high Exxon stock closing price was 121.22 on April 10, 2024.
  • The Exxon 52-week high stock price is 123.75, which is 7.4% above the current share price.

Who owns ExxonMobil? ›

How much does the CEO of Exxon make? ›

April 11 (Reuters) - Exxon Mobil (XOM. N) , opens new tab Chief Executive Darren Woods received $36.9 million in total compensation for 2023, up nearly 3% from a year earlier, the oil major said in a regulatory filing on Thursday.

How rich is ExxonMobil? ›

Exxon Mobil has a market cap or net worth of $508.75 billion as of July 23, 2024. Its market cap has increased by 21.98% in one year.

How is Exxon doing financially? ›

Exxon Mobil Corporation today announced first-quarter 2024 earnings of $8.2 billion, or $2.06 per share assuming dilution. Capital and exploration expenditures were $5.8 billion, consistent with the company's full-year guidance of $23 billion to $25 billion.

Does Exxon have a lot of debt? ›

Exxon long term debt for 2023 was $37.483B, a 7.58% decline from 2022. Exxon long term debt for 2022 was $40.559B, a 6.61% decline from 2021. Exxon long term debt for 2021 was $43.428B, a 7.96% decline from 2020.

Did Exxon ever pay for the oil spill? ›

Exxon's official position was that punitive damages greater than $25 million were not justified because the spill resulted from an accident, and because Exxon spent an estimated $2 billion cleaning up the spill and a further $1 billion to settle related civil and criminal charges.

Did Exxon make record profits? ›

Exxon is flush with cash. The company posted unprecedented profits last year of $55.7 billion, breezing past its previous record of $45.22 billion in 2008 when oil prices hit record highs. Elevated levels of cash for all big producers are driving a massive consolidation in the energy sector.

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