The 14 nation OPEC began its first round of oil supply cuts in December, as oil supplies plunged by 751,000 barrels per day to nearly 31.6 million bpd.
In early December OPEC members signed an agreement with Russia and nine other nations to keep 1.2 million barrels per day off the market starting in January. This move is to prevent another price-crushing oil glut as last experienced in 2014-2016.
Saudi Arabia tops the list of supply cuts. The kingdom's output plunged by 468,000 bpd to just over 10.5 million bpd last month. According to Saudi Energy Minister Khalid al Falih, the Saudis are planning another production cut in January to 10.2 million bpd.
This pullback in OPEC production was occasioned by supply disruptions in Libya and Iran. Output in Libya fell by 172,000 bpd to 928,000 bpd in December, while in Iran, production dropped by another 159,000 bpd to just under 2.8 million bpd. On the other hand, Iraq, OPEC's second largest producer, witnessed the biggest jump in production in the final month of the year as its output rose 88,000 bpd to just over 4.7 million bpd. At the current level, Baghdad would need to cut about 200,000 bpd in January to meet its quota under the supply cut agreement.
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 XOM advanced for three days, in of 319 cases, the price rose further within the following month. The odds of a continued upward trend are .
The 50-day moving average for XOM moved above the 200-day moving average on March 27, 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 249 cases where XOM Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 11 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
XOM broke above its upper Bollinger Band on March 14, 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 68, placing this stock better than average.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding 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 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 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: XOM's P/B Ratio (2.252) is slightly higher than the industry average of (1.194). P/E Ratio (13.075) is within average values for comparable stocks, (23.288). Projected Growth (PEG Ratio) (6.805) is also within normal values, averaging (4.381). Dividend Yield (0.032) settles around the average of (0.105) among similar stocks. P/S Ratio (1.407) is also within normal values, averaging (0.941).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a distributer of crude oil, natural gas and petroleum products
Industry IntegratedOil