Esso Shares Plummet 5.97% at Close, Falling Below 41 Euros
Esso shares experienced a sharp decline during the trading session on Monday, November 24, 2025, closing at 40.98 euros, down 5.97% from the previous day. This drop is part of a broader corrective movement that has been affecting the refiner's stock for several weeks, despite the upcoming change of control scheduled in a few days.
Significant Drop Amidst Pending Acquisition
The French subsidiary of ExxonMobil saw a decline of 2.60 euros on Monday, closing at 40.98 euros after ending at 43.58 euros the previous day. Trading remained moderate with a capital turnover of 0.46%, indicating investor caution. Over the week, the stock now shows a cumulative decrease of 13.62%, marking a significant acceleration of the correction that began since the peak last June. Over a longer period, however, the performance remains positive: the stock has gained 8.37% over three months and maintains an annual increase of 54.39%, significantly outperforming the CAC 40's rise of 9.71% over the same period. The Paris index itself fell by 0.29% on Monday, settling at 7,959.67 points. The decline comes as the finalization of ExxonMobil's stake acquisition by Canadian energy company North Atlantic is scheduled for November 28, at a price of 26.19 euros per share. In this context, a mandatory public offer will be launched for the minority shareholders at a price of 28.93 euros per share, well below the current price. This significant gap of nearly 30% between the market price and the offer price raises questions about the future evolution of the stock and could partly explain the selling pressure observed in recent days.
Technical Analysis Indicates Oversold Conditions
From a technical analysis perspective, Esso's stock is in a pronounced oversold zone. The RSI stands at 19, a level well below the critical threshold of 30 that traditionally signals extreme oversold conditions. This indicator suggests that the downward movement might have reached a short-term excess, although in periods of strong downward trends, the RSI can remain in the oversold zone for an extended time. Additionally, the MACD confirms the negative momentum with a MACD line at -14.20 and a signal line at -9.57, generating a negative histogram of -4.63. This configuration indicates a well-established bearish trend, with the MACD line significantly below its signal line. The current price of 40.98 euros is now well below its structuring moving averages: the MM50 at 89.79 euros and the MM200 at 117.43 euros. This position illustrates the severity of the correction the stock has undergone since its peak. The one-month volatility stands at 82.69, an exceptionally high level that reflects the magnitude of recent price variations. The support threshold is now at 43.58 euros, the closing price on Friday, while major resistance is much higher, at 107.20 euros. The Bollinger Bands, with a lower bound at 25.78 euros and an upper bound at 131.35 euros, reflect this extreme volatility and suggest a significant widening of the price range.
Oil Sector Faces Adjustment Phase
The oil sector is undergoing a marked adjustment phase characterized by the normalization of margins and uncertainty related to the energy transition. In this context, Esso's strategy of refocusing continues, including the divestment of its refining activities in southern France completed in early November. The prospect of the acquisition by North Atlantic adds an additional layer of uncertainty for minority shareholders, who will have to decide on the upcoming public offer. The Esso case remains under close scrutiny in the coming days, with volatility expected to persist until the finalization of the change of control scheduled for November 28.
