Stock Market News

Exxon Mobil could deliver a monster quarter

2022.07.05 21:26

Exxon Mobil could deliver a monster quarter
Exxon Mobil could deliver a monster quarter

 

Exxon Mobil (NYSE:XOM) could deliver a monster quarter, according to Credit Suisse analyst Manav Gupta.

The analyst reiterated an Outperform rating and a $125.00 per share price target ahead of the expected 8K filing. Indicators are pointing towards very strong final results, Gupta noted.

“While expectations was earnings will be up QoQ (given strength in commodity), both downstream and upstream came in better than expectations. Refining is set to deliver a record quarter. Based on the indicators provided by XOM, total upstream could be up +$2.8Bn QoQ while refining would be up +$5.2Bn (positive surprise). Chemicals (both commodity and specialty) should be flat QoQ, positive given US commodity chem margins were under pressure,” Gupta told clients in a note.

The analyst reminds investors that XOM’s earnings “come in above the midpoint of guidance (implied by indicators)” in the past. The Street is calling for Q2 EPS of $2.97 per share while indicators are calling for a monster $4.03 per share print.

Gupta also expects reactions across the sector once Exxon’s 8K filing is out.

“XOM’s 8K filing is the barometer that measures health of the energy sector. Based on the filing we expect materially higher QoQ refining earnings for VLO, PSXMPC and DINO and also strong QoQ improvement in upstream earnings for SUCVE and CVX,” the analyst concluded.

Exxon Mobil could deliver a monster quarter

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 98,681.44 0.56%
ethereum
Ethereum (ETH) $ 3,452.05 4.47%
tether
Tether (USDT) $ 1.00 0.08%
solana
Solana (SOL) $ 260.21 1.41%
bnb
BNB (BNB) $ 672.32 8.04%
xrp
XRP (XRP) $ 1.55 8.64%
dogecoin
Dogecoin (DOGE) $ 0.466646 16.50%
cardano
Cardano (ADA) $ 1.10 22.12%
usd-coin
USDC (USDC) $ 1.00 0.09%
staked-ether
Lido Staked Ether (STETH) $ 3,464.18 4.86%
tron
TRON (TRX) $ 0.221483 11.62%
avalanche-2
Avalanche (AVAX) $ 43.13 12.67%
shiba-inu
Shiba Inu (SHIB) $ 0.000028 12.29%
the-open-network
Toncoin (TON) $ 6.18 13.28%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,081.89 4.25%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,554.41 0.91%
stellar
Stellar (XLM) $ 0.441738 51.75%
polkadot
Polkadot (DOT) $ 8.15 33.21%
chainlink
Chainlink (LINK) $ 17.40 15.04%
bitcoin-cash
Bitcoin Cash (BCH) $ 539.73 12.93%
sui
Sui (SUI) $ 3.61 2.66%
weth
WETH (WETH) $ 3,448.33 4.44%
pepe
Pepe (PEPE) $ 0.000022 7.22%
leo-token
LEO Token (LEO) $ 8.62 1.17%
near
NEAR Protocol (NEAR) $ 6.38 13.88%
litecoin
Litecoin (LTC) $ 102.68 15.59%
aptos
Aptos (APT) $ 12.91 7.93%
uniswap
Uniswap (UNI) $ 10.74 14.84%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,624.70 4.17%
hedera-hashgraph
Hedera (HBAR) $ 0.149943 14.36%
internet-computer
Internet Computer (ICP) $ 11.62 19.83%
crypto-com-chain
Cronos (CRO) $ 0.201374 8.52%
usds
USDS (USDS) $ 1.00 0.01%
ethereum-classic
Ethereum Classic (ETC) $ 30.57 11.02%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.566765 23.81%
render-token
Render (RENDER) $ 7.96 10.97%
kaspa
Kaspa (KAS) $ 0.161217 9.36%
bittensor
Bittensor (TAO) $ 536.34 8.26%
bonk
Bonk (BONK) $ 0.000051 1.75%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.00%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.42 14.39%
vechain
VeChain (VET) $ 0.044075 36.36%
arbitrum
Arbitrum (ARB) $ 0.869245 9.72%
whitebit
WhiteBIT Coin (WBT) $ 24.65 0.13%
dogwifcoin
dogwifhat (WIF) $ 3.53 11.55%
dai
Dai (DAI) $ 1.00 0.17%
mantra-dao
MANTRA (OM) $ 3.81 4.19%
filecoin
Filecoin (FIL) $ 5.33 16.48%
blockstack
Stacks (STX) $ 2.13 13.08%
cosmos
Cosmos Hub (ATOM) $ 8.15 17.49%