BlackRock shares gain for a second session in a row on Friday, Exxon should reveal more details regarding climate change-related risks, asset manager says

June 12, 2017 7:23 am

On June 9th BlackRock Inc (BLK) has reportedly said that Exxon Mobil Corp should “enhance its disclosures” in regard to climate change-associated risks. The asset management firm is Exxon’s third largest investor holding a stake of more than 4%.

BlackRock shares closed higher for a second straight trading session on Friday. The stock went up 0.79% ($3.27) to $418.50, after touching an intraday high at $419.04 and also a fresh all-time high. In the week ended on June 11th the shares of the NYSE-listed investment management company added 0.91% to their market value compared to a week ago, which marked a fifth consecutive period of gains. The stock has extended its advance to 2.26% so far during the current month, following a 6.41% surge in May. The latter has been a second consecutive monthly gain and also the sharpest one since November 2016. For the entire past year, the shares of BlackRock Inc (BLK) gained 11.75%.

According to the asset manager’s statement, a request has been made for a meeting with Exxon Mobil’s independent directors during the past two years.

On the other hand, as reported by Reuters, the oil company refused to make directors available due to a non-engagement policy between shareholders and members of the board.

According to CNN Money, the 12 analysts, offering 12-month forecasts regarding BlackRock Inc’s stock price, have a median target of $429.00, with a high estimate of $527.00 and a low estimate of $387.00. The median estimate is a 2.51% surge compared to the closing price of $418.50 on June 9th.

The same media also reported that 11 out of 16 surveyed investment analysts had rated BlackRock Inc’s stock as “Buy”, while 5 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the BlackRock stock are presented as follows:

R1 – $418.84
R2 – $419.17
R3 (Range Resistance – Sell) – $419.51
R4 (Long Breakout) – $420.52
R5 (Breakout Target 1) – $421.71
R6 (Breakout Target 2) – $422.21

S1 – $418.16
S2 – $417.83
S3 (Range Support – Buy) – $417.49
S4 (Short Breakout) – $416.48
S5 (Breakout Target 1) – $415.29
S6 (Breakout Target 2) – $414.79

By using the traditional method of calculation, the weekly levels of importance for BlackRock Inc (BLK) are presented as follows:

Central Pivot Point – $416.20
R1 – $421.34
R2 – $424.19
R3 – $429.33
R4 – $434.48

S1 – $413.35
S2 – $408.21
S3 – $405.36
S4 – $402.52

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