The world’s biggest crude oil producer and the world’s most profitable company, Saudi Aramco, plans to collaborate with Indian refining giant, Reliance Industries, as well as other companies to invest in refineries and petrochemical projects in India. $44 billion has reportedly been allocated by this collaborative venture between Aramco and India’s PSU oil companies to set up a refinery in Maharashtra.
Saudi Arabia’s interest in India is part of its strategy to increase its share in Asia’s crude oil market and invest more in refining and petrochemicals to reduce its economy’s dependence on crude oil sales. Comparable projects of Aramco include a major investment in refining and petrochemicals projects in South Korea, as well as a $7 billion joint venture investment with Malaysia’s Petronas for a refinery that will buy at least half of its crude oil requirement from Saudi Arabia. Aramco has similar plans for India, given its status as one of world’s top energy consumers
However, following protests regarding land acquisition for the projects, the Maharashtra government may have to relocate the refinery to coastal land spreading across 15,000 acres. But no compromises with the project timeline would be made.
The RSI Oscillator for XOM moved out of oversold territory on May 17, 2023. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 24 similar instances when the indicator left oversold territory. In of the 24 cases the stock moved higher. This puts the odds of a move higher at .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 60 cases where XOM's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on May 24, 2023. You may want to consider a long position or call options on XOM as a result. In of 93 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for XOM just turned positive on May 24, 2023. Looking at past instances where XOM's MACD turned positive, the stock continued to rise in of 40 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XOM advanced for three days, in of 330 cases, the price rose further within the following month. The odds of a continued upward trend are .
XOM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 260 cases where XOM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
XOM moved below its 50-day moving average on May 02, 2023 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for XOM crossed bearishly below the 50-day moving average on May 10, 2023. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where XOM declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock better than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: XOM's P/B Ratio (2.136) is very high in comparison to the industry average of (1.047). P/E Ratio (7.107) is within average values for comparable stocks, (15.050). Projected Growth (PEG Ratio) (1.768) is also within normal values, averaging (4.136). Dividend Yield (0.034) settles around the average of (0.103) among similar stocks. P/S Ratio (1.126) is also within normal values, averaging (0.582).
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. XOM’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows