Exxon Mobil produced less energy, and missed profit expectations in the latest quarter.
The energy major’s total production dropped by -7% globally in Q2. Its output has declined in eight out of the past nine quarters.
Its biggest production plunge (-30%) in Q2 happened in Europe. The firm also cited planned maintenance as a factor behind lower production.
Exxon’s Q2 profit rose by 18% to $3.95 billion, falling short of projections.
But there's still some potential chance for the company to bounce back – thanks to its +30% production growth in Permian Basin of West Texas and Bakken of North Dakota last quarter, and the firm’s plans of investing billions of dollars in overseas projects that it hopes will bolster long-term growth.
Moving higher for three straight days is viewed as a bullish sign. Keep an eye on this stock for future growth. Considering data from situations where CVX advanced for three days, in of 332 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 22, 2024. You may want to consider a long position or call options on CVX as a result. In of 81 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The 50-day moving average for CVX moved above the 200-day moving average on April 03, 2024. This could be a long-term bullish signal for the stock as the stock shifts to an upward trend.
The Aroon Indicator entered an Uptrend today. In of 281 cases where CVX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The 10-day RSI Indicator for CVX moved out of overbought territory on April 30, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 34 similar instances where the indicator moved out of overbought territory. In of the 34 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 73 cases where CVX's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for CVX turned negative on May 01, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 44 similar instances when the indicator turned negative. In of the 44 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where CVX declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
CVX broke above its upper Bollinger Band on April 01, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding 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 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 70, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. CVX’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly weaker than average sales and a marginally 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 significantly overvalued 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: P/B Ratio (1.836) is normal, around the industry mean (1.218). P/E Ratio (14.004) is within average values for comparable stocks, (24.146). Projected Growth (PEG Ratio) (4.497) is also within normal values, averaging (4.841). Dividend Yield (0.039) settles around the average of (0.107) among similar stocks. P/S Ratio (1.519) is also within normal values, averaging (0.979).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a company which explores and refines oil and natural gas
Industry IntegratedOil