xom

The transaction anticipated to close in late 2011, subject to standard closing conditions and regulatory approvals.

The 51 sites, all of which are in the greater Dallas/Fort Worth area, include two unused parcels of land.

7-Eleven announced that it has agreed to acquire ExxonMobil's (NYSE:XOM) retail interests in 51 North Texas sites.

This is what's in the news for Wednesday, May 18th. The Financial Times reports that the Federal Reserve wants U.S. banks to undergo annual stress tests, reserving the right to veto dividend pay-outs if they do not pass. Bloomberg

Exxon Mobil (NYSE:XOM) reported EPS of $2.14 today, beating the consensus estimate for $2.06 per share. Revenue for the quarter was up 26% year-over-year to $114.00 billion, but fell short of the consensus estimate for $114.85 bil

That represents an annual yield of 2.1% based on the stock's closing price on Tuesday of $87.42.

The dividend will be paid out June 10th to shareholders of record on May 13th.

Shares of Exxon Mobil are trading down 0.69% at $86.82.

Exxon Mobil Corp (NYSE:XOM) said Wednesday its board of directors had increased the company's 2nd quarter dividend to $0.47 from $0.44.

Already, Exxon Mobil (XOM) agreed last year to sell its 9.43% stake in the network to Njord Gas Infrastructure.

Statoil ADRs are down 3.1%, or $0.90, to $27.96.

ADRs of Statoil ASA (STO) are down as Bloomberg reports that the oil producer--the largest in Norway--is looking at selling a portion of its 28.5% stake in Norwegian gas-pipeline network Gassled to free up capital.

Halliburton will provide a range of well construction services utilizing three drilling rigs to safely deliver the wells, the company said in a statement.

Halliburton shares are down 2.35%, or $1.12, to $47.02.

Shares of Halliburton (HAL) are down as the company said it has been awarded a contract by Exxon Mobil (XOM) Iraq Limited to provide drilling services for 15 wells in the West Qurna oil field located in Southern Iraq.

The bank now sees 2011 EPS of $7.64, up from $7.38 per share, and 2012 EPS of $8.39, up from $8.15 per share.

Exxon Mobil has a potential upside of 2.8% based on a current price of $82.29 and an average consensus analyst price target of $84.57.

Morgan Stanley raised its 2011 and 2012 EPS estimates for Exxon Mobil Corp. (NYSE:XOM) and maintained its equal-weight rating.

ExxonMobil, currently the largest company in the world by market capitalization, said it will spend $34 billion this year and between $33 and $37 billion per year through 2015 to increase its production.

Many of the major oil companies have vowed to step up spending in an effort to increase their output as oil prices surge.

ExxonMobil (NYSE:XOM), the largest U.S. oil company, said it plans to spend $100 million per day over the next five years to increase its oil output.