ExxonMobil, QatarEnergy Joint Venture Begins First LNG Production

Exxon Mobil Corp. (NYSE:XOM) shares rose on Monday as energy stocks led a broader risk-on rally. The stock gained amid renewed geopolitical tensions tied to the escalating U.S.-Israel-Iran conflict, which was reintroducing risk premiums into global oil markets. • Exxon Mobil shares are testing new highs. Why are XOM shares at highs? Golden Pass LNG Milestone Separately, Golden Pass LNG reached a key milestone in its 18 million tons per annum LNG project by producing the first LNG from the first of three LNG trains. Notably, Golden Pass LNG is a joint venture between QatarEnergy (70%) and ExxonMobil (30%). In 2019, the partners announced a final investment decision exceeding $10 billion to develop the Golden Pass LNG export project. This initial production positions Golden Pass LNG to deliver its first cargo from its Sabine Pass, Texas facilities, advancing both its commercial and strategic goals. The companies expect the exports from the project to begin in the second quarter of 2026. ExxonMobil Advances Guyana Gas Project Last week, the company's affiliate, ExxonMobil Guyana Limited, awarded a contract to SBM Offshore. The contract is to carry out Front End Engineering and Design (FEED) studies for a Floating Production, Storage and Offloading (FPSO) vessel for the Longtail development project in Guyana. As per the deal, SBM Offshore will develop the FPSO through its Fast4Ward program, leveraging the company's ninth new-build Multi-Purpose Floater hull along with multiple standardized topside modules. The vessel can handle 1,200 million cubic feet of gas per day and produce 250,000 barrels of condensate daily. It will be spread-moored in around 1,750 meters of water and capable of storing around two million barrels of condensate. Technical Analysis Exxon is trading 10.4% above its 20-day SMA and 29.5% above its 100-day SMA, keeping the longer-term trend firmly pointed higher. Shares are up 45.53% over the past 12 months and are positioned at the top of their 52-week range after setting a fresh 52-week high today. RSI is at 76.30, which puts the stock in overbought territory and raises the odds of a pause or pullback if momentum cools. MACD remains bullish (MACD 5.2475 vs. signal 4.2870; histogram 0.9605), suggesting trend-followers still have the wind at their back. The combination of overbought RSI (above 70) and bullish MACD suggests mixed momentum. Key Resistance: N/A Key Support: $147.50 Earnings & Analyst Outlook The countdown is on: Exxon Mobil is set to report earnings on April 10 (estimated). EPS Estimate: $1.77 (Up from $1.76 year-over-year) Revenue Estimate: $85 billion (Up from $83.13 billion YoY) Valuation: P/E of 25.5x (Indicates premium valuation relative to peers) Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $145.23. Recent analyst moves include: Morgan Stanley: Overweight (Raises target to $172 on March 27) HSBC: Hold (Raises target to $158 on March 20) Mizuho: Neutral (Raises target to $162 on March 17) Top ETF Exposure First Trust Nasdaq Oil & Gas ETF (NASDAQ:FTXN): 9.21% Weight Cohen & Steers Natural Resources Active ETF (NYSE:CSNR): 5.78% Weight Strive Natural Resources and Security ETF (NYSE:FTWO): 6.90% Weight Significance: Because ExxonMobile carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. XOM Stock Price Activity: Exxon Mobil shares were up 1.07% at $172.82 at the time of publication on Monday, according to Benzinga Pro data. Photo via Shutterstock