Stock Market News

Exxon Mobil Price Target Raised on Stronger Upstream Performance

2022.10.07 15:52



© Reuters. Exxon Mobil (XOM) Price Target Raised on Stronger Upstream Performance

By Sam Boughedda

Wells Fargo’s price target for Exxon Mobil (NYSE:) Corporation was raised to $116 from $109, with its Overweight rating maintained on Friday.

Analysts made quarter-end adjustments, also raising estimates for the oil and gas company.

“We raise our Q3 2022 EPS/cash flow estimates on stronger performance from the upstream, energy products and specialties segments partially offset by weaker chemicals performance,” they wrote. “Our new/old EPS estimates for 2022, 2023 and 2024 are $12.79/$12.50, $8.99/$8.57 and $8.15/$7.48.”

They said his firm remains in the minority view among Exxon’s sell-side coverage with their Overweight rating.

“Despite the company’s pledge to return approximately $30bn via share repurchases and a nearly equivalent amount via dividends in 2022 and 2023, skepticism seems to remain,” added the analysts. “Given our 2023E and 2024E EPS estimates are in line with and below consensus, respectively, it appears the market remains in a ‘show me’ state of mind.”

However, they feel a more extensive track record of demonstrating cash returns and operational execution might be required to change minds.



Source link

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 76,030.37 1.60%
vested-xor
Vested XOR (VXOR) $ 3,405.08 99,999.99%
ethereum
Ethereum (ETH) $ 2,916.26 3.61%
tether
Tether (USDT) $ 1.00 0.06%
solana
Solana (SOL) $ 202.39 7.80%
bnb
BNB (BNB) $ 597.71 0.60%
usd-coin
USDC (USDC) $ 0.999654 0.02%
xrp
XRP (XRP) $ 0.549916 0.19%
dogecoin
Dogecoin (DOGE) $ 0.197336 3.47%
staked-ether
Lido Staked Ether (STETH) $ 2,913.80 3.53%
cardano
Cardano (ADA) $ 0.431501 16.43%
tron
TRON (TRX) $ 0.161357 0.46%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,454.78 4.09%
the-open-network
Toncoin (TON) $ 4.87 0.68%
avalanche-2
Avalanche (AVAX) $ 27.72 3.25%
shiba-inu
Shiba Inu (SHIB) $ 0.000019 2.04%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 76,022.37 1.72%
weth
WETH (WETH) $ 2,916.65 3.65%
chainlink
Chainlink (LINK) $ 12.95 5.43%
bitcoin-cash
Bitcoin Cash (BCH) $ 372.75 1.00%
sui
Sui (SUI) $ 2.31 3.65%
polkadot
Polkadot (DOT) $ 4.29 5.70%
leo-token
LEO Token (LEO) $ 6.33 2.18%
usds
USDS (USDS) $ 0.994084 0.65%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,067.63 3.65%
litecoin
Litecoin (LTC) $ 71.12 0.60%
uniswap
Uniswap (UNI) $ 8.75 1.95%
near
NEAR Protocol (NEAR) $ 4.22 1.73%
aptos
Aptos (APT) $ 9.67 0.71%
pepe
Pepe (PEPE) $ 0.000011 3.72%
bittensor
Bittensor (TAO) $ 501.45 2.06%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.40 0.39%
internet-computer
Internet Computer (ICP) $ 7.68 0.26%
dai
Dai (DAI) $ 0.999608 0.04%
monero
Monero (XMR) $ 164.50 1.54%
stellar
Stellar (XLM) $ 0.101842 4.21%
ethereum-classic
Ethereum Classic (ETC) $ 20.17 1.30%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.15%
crypto-com-chain
Cronos (CRO) $ 0.104174 22.88%
whitebit
WhiteBIT Coin (WBT) $ 19.55 1.17%
kaspa
Kaspa (KAS) $ 0.112603 4.90%
aave
Aave (AAVE) $ 181.24 2.02%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.34748 2.65%
blockstack
Stacks (STX) $ 1.65 0.99%
okb
OKB (OKB) $ 40.20 0.51%
first-digital-usd
First Digital USD (FDUSD) $ 1.00 0.47%
dogwifcoin
dogwifhat (WIF) $ 2.35 0.75%
arbitrum
Arbitrum (ARB) $ 0.572185 0.09%
filecoin
Filecoin (FIL) $ 3.72 0.56%
mantle
Mantle (MNT) $ 0.656392 3.58%