Falling for a third straight session, U.S. crude oil prices settled at their lowest since early October 2017 after dropping more than 1% last Tuesday. Growing fears of slowing global growth have overshadowed the efforts to curb production by OPEC members and its allies, resulting in the fall.
Further, concerns over inventory buildup and forecasts of record shale output in U.S. - currently the world’s biggest producer - coupled with Mexico doubling its oil output has allowed oversupply uncertainties to set in and put pressure on prices.
International benchmark Brent crude oil futures tumbled nearly 71 cents or 1.2% from its last close, to stand at $58.90 per barrel, marking more than a 4% drop over the past three sessions. U.S. West Texas Intermediate (WTI) crude futures tumbled to $49.27 per barrel, dropping by 60 cents or 1.2%.
Both U.S. crude and Brent have dropped more than 30% since early October amid swelling global inventories, with WTI currently trading at or below $50 levels not seen since October 2017.
Some of the biggest names of the U.S. oil industry are feeling the sting, as reflected in stock prices.
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 321 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 261 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 10-day RSI Indicator for XOM moved out of overbought territory on April 12, 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 44 similar instances where the indicator moved out of overbought territory. In of the 44 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 67 cases where XOM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved below the 0 level on April 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on XOM as a result. In of 96 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for XOM turned negative on April 15, 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 45 similar instances when the indicator turned negative. In of the 45 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 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 .
XOM broke above its upper Bollinger Band on April 02, 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 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 71, placing this stock better than average.
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 Seasonality Score of (best 1 - 100 worst) indicates that the company is slightly undervalued 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 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 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 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 (2.267) is slightly higher than the industry average of (1.218). P/E Ratio (13.160) is within average values for comparable stocks, (24.146). Projected Growth (PEG Ratio) (6.848) is also within normal values, averaging (4.841). Dividend Yield (0.032) settles around the average of (0.107) among similar stocks. P/S Ratio (1.416) 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 distributer of crude oil, natural gas and petroleum products
Industry IntegratedOil