Exxon Mobil Corp. [XOM] Revenue clocked in at $334.76 billion, up 3.86% YTD: What’s Next?

Exxon Mobil Corp. [NYSE: XOM] price plunged by -0.88 percent to reach at -$0.92. The company report on February 15, 2024 at 4:15 PM that ExxonMobil Obtains Exemption from Canadian Oil and Gas Reporting Obligations.

Exxon Mobil Corporation (NYSE: XOM) announced today that the securities commissions for the provinces of Alberta and Ontario have issued a decision document (the Decision), which has the effect of granting ExxonMobil exemptive relief from the disclosure requirements contained in National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101).

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As a result of the Decision, and provided that certain conditions set out in the Decision are met on an on-going basis, ExxonMobil will not be required to comply with the requirements of NI 51-101 and, accordingly, will not be required to file Form 51-101F1 – Statement of Reserves Data and Other Oil and Gas Information, Form 51-101F2 – Report on Reserves Data by Independent Qualified Reserves Evaluator or Auditor and Form 51-101F3 – Report of Management and Directors on Oil and Gas Disclosure. In lieu of such filings, ExxonMobil is permitted, pursuant to the Decision, to provide disclosure in respect of its oil and gas activities in the form permitted by, and in accordance with, the legal requirements of the United States Securities and Exchange Commission, the United States Securities Act 1933, as amended, the United States Securities Exchange Act of 1934, as amended, the United States Sarbanes-Oxley Act of 2002 and the rules of the New York Stock Exchange (collectively, the U.S. Rules). ExxonMobil is required to file such disclosure with the securities regulatory authority or regulator in each of the provinces of Canada as soon as practicable after such disclosure is filed pursuant to the U.S. Rules.

The one-year XOM stock forecast points to a potential upside of 16.12. The average equity rating for XOM stock is currently 1.96, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Exxon Mobil Corp. [XOM]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for XOM shares is $123.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on XOM stock is a recommendation set at 1.96. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

TD Cowen have made an estimate for Exxon Mobil Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 23, 2024. While these analysts kept the previous recommendation, Redburn Atlantic raised their target price from $116 to $119. The new note on the price target was released on January 09, 2024, representing the official price target for Exxon Mobil Corp. stock. Previously, the target price had yet another raise to $117, while Mizuho analysts kept a Neutral rating on XOM stock. On December 08, 2023, analysts decreased their price target for XOM shares from 118 to 115.

The Average True Range (ATR) for Exxon Mobil Corp. is set at 2.01, with the Price to Sales ratio for XOM stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 2.07, with the Price to Cash per share for the same quarter was set at 7.90. Price to Free Cash Flow for XOM in the course of the last twelve months was 12.41 with Quick ratio for the last quarter at 1.09.

XOM Stock Performance Analysis:

Exxon Mobil Corp. [XOM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.11. With this latest performance, XOM shares gained by 4.26% in over the last four-week period, additionally sinking by -3.09% over the last 6 months – not to mention a drop of -5.37% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for XOM stock in for the last two-week period is set at 55.12, with the RSI for the last a single of trading hit 55.54, and the three-weeks RSI is set at 53.94 for Exxon Mobil Corp. [XOM]. The present Moving Average for the last 50 days of trading for this stock 101.30, while it was recorded at 103.99 for the last single week of trading, and 105.93 for the last 200 days.

Insight into Exxon Mobil Corp. Fundamentals:

Exxon Mobil Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.09 and a Current Ratio set at 1.48.

XOM Stock EPS

With the latest financial reports released by the company, Exxon Mobil Corp. posted 2.83/share EPS, while the average EPS was predicted by analysts to be reported at 2.59/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 9.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for XOM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Exxon Mobil Corp. go to -10.74%.

Exxon Mobil Corp. [XOM] Institutonal Ownership Details

The top three institutional holders of XOM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in XOM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in XOM stock with ownership which is approximately 5.8325%.