In the latest trading session, Exxon Mobil (XOM) closed at $118.20, marking a +1.89% move from the previous day. This move outpaced the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 4.87%.
Prior to today's trading, shares of the oil and natural gas company had gained 12.05% over the past month. This has outpaced the Oils-Energy sector's gain of 5.13% and the S&P 500's gain of 3.31% in that time.
Exxon Mobil will be looking to display strength as it nears its next earnings release, which is expected to be April 28, 2023. On that day, Exxon Mobil is projected to report earnings of $2.65 per share, which would represent year-over-year growth of 28.02%. Our most recent consensus estimate is calling for quarterly revenue of $96.04 billion, up 6.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $9.90 per share and revenue of $373.05 billion, which would represent changes of -29.59% and -9.82%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Exxon Mobil. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.84% lower within the past month. Exxon Mobil is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Exxon Mobil's current valuation metrics, including its Forward P/E ratio of 11.72. For comparison, its industry has an average Forward P/E of 5.78, which means Exxon Mobil is trading at a premium to the group.
It is also worth noting that XOM currently has a PEG ratio of 0.55. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.76 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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2023-04-24 21:45:09Z
CBMiTGh0dHBzOi8vZmluYW5jZS55YWhvby5jb20vbmV3cy9leHhvbi1tb2JpbC14b20tb3V0cGFjZXMtc3RvY2stMjE0NTA5OTU0Lmh0bWzSAVRodHRwczovL2ZpbmFuY2UueWFob28uY29tL2FtcGh0bWwvbmV3cy9leHhvbi1tb2JpbC14b20tb3V0cGFjZXMtc3RvY2stMjE0NTA5OTU0Lmh0bWw
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