Exxon Mobil (XOM) Stock Sinks As Market Gains: Here's Why
Exxon Mobil (XOM) closed at $112.18 in the latest trading session, marking a -1.05% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.1% for the day. On the other hand, the Dow registered a loss of 0.08%, and the technology-centric Nasdaq increased by 0.28%.
Coming into today, shares of the oil and natural gas company had gained 0.55% in the past month. In that same time, the Oils-Energy sector gained 0.75%, while the S&P 500 gained 4.08%.
Investors will be eagerly watching for the performance of Exxon Mobil in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.34, signifying a 20.62% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $91.69 billion, up 10.59% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $9.18 per share and a revenue of $360.44 billion, representing changes of -3.57% and +4.6%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Exxon Mobil. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 4.06% fall in the Zacks Consensus EPS estimate. Right now, Exxon Mobil possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Exxon Mobil is currently being traded at a Forward P/E ratio of 12.35. This signifies a premium in comparison to the average Forward P/E of 7.91 for its industry.
It's also important to note that XOM currently trades at a PEG ratio of 4.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.96.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 66, placing it within the top 27% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
