Summary for internal reference:
Exxon Mobil will report fourth-quarter earnings on Friday as U.S. oil prices hit a four-month high. Analysts forecast adjusted EPS of $1.68, and the company warned of a sequential upstream earnings decline of $800 million to $1.2 billion.
Exxon Mobil reports fourth-quarter results on Friday as oil prices reach a four-month high in the United States. Investors will watch updates on Venezuela’s oil output and the company’s portfolio reshaping efforts.
Lower commodity prices weighed on recent results, but the recent oil price rise could boost fourth-quarter revenue. Analysts expect adjusted earnings per share of $1.68 for the quarter.
Exxon Mobil is shifting its portfolio toward carbon capture and divesting certain assets to lower its carbon intensity. The company noted in an 8-K filing that December-quarter upstream earnings likely fell sequentially by $800 million to $1.2 billion.
XOM stock has gained about 14% year-to-date, reflecting investor optimism despite market volatility. (Ed. note: analysts generally maintain bullish ratings, which supports higher price targets.)
Analysts maintain an Overweight rating on Exxon Mobil, with price targets mostly above the current market price of $122.91. Piper Sandler set the highest target at $142, while Morgan Stanley and Barclays kept solid ratings and higher forecasts.
