Exxon (XOM, $74.66) reports better-than-expected earnings
Shares of the world’s largest publicly traded oil and gas company, Exxon Mobil, rose more than 3% on Monday to touch the $76 mark. Exxon’s latest quarterly earnings report revealed that the company reported a forecast-beating performance in the fourth quarter.
Quarterly profit excluding the impacts of U.S. tax changes rose to $6.41 billion, registering a 72% increase from the same period a year ago.
However, quarterly profit including the tax impacts fell by 28% compared to the same quarter a year ago to $6 billion. Nevertheless, the equivalent earnings per share of $1.41 beat forecasts of $1.08 per share.
But revenue couldn’t match forecasts and came-in at $71.89 billion, although the company showed a small increase in fossil fuel production. Oil production for the quarter increased 4% to hit four million barrels of oil equivalent, driven by growth from the Permian Basin, the top U.S. shale field underlying western Texas and south-eastern New Mexico.
The company has also released information about its plans to restructure upstream business by consolidating operations across three companies that could double up the cash flow earnings by 2025. Profits from the upstream business, excluding the tax impacts, rose ~47 percent to clock $3.7 billion in the fourth-quarter.
Finally, Exxon announced its decision to expand its Beaumont, Texas, refinery to process an outpouring of production from shale fields in the Permian Basin. The build-out will make the Beaumont facility the second largest in the United States after Saudi Aramco's Motiva refinery in Port Arthur, Texas.
XOM in upward trend: price may jump up because it broke its lower Bollinger Band on May 31, 2023
XOM may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 30 cases where XOM's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where XOM's RSI Oscillator exited the oversold zone, of 25 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 June 06, 2023. You may want to consider a long position or call options on XOM as a result. In of 92 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 June 02, 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 329 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
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 Aroon Indicator for XOM entered a downward trend on June 08, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
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 84, 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 (2.208) is very high in comparison to the industry average of (1.061). P/E Ratio (7.348) is within average values for comparable stocks, (16.517). Projected Growth (PEG Ratio) (1.768) is also within normal values, averaging (4.122). Dividend Yield (0.033) settles around the average of (0.105) among similar stocks. P/S Ratio (1.165) is also within normal values, averaging (0.592).
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.
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Industry description
Market Cap
High and low price notable news
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a distributer of crude oil, natural gas and petroleum products
Industry IntegratedOil
XOM and
Correlation & Price change
A.I.dvisor indicates that over the last year, XOM has been closely correlated with CVX. These tickers have moved in lockstep 90% of the time. This A.I.-generated data suggests there is a high statistical probability that if XOM jumps, then CVX could also see price increases.
