The stock of Exxon Mobil Corporation (NYSE:XOM) is now priced at $43.44 and the shares are -0.2 points down or -0.46% lower compared to its previous closing price of $43.64. The stock had 18.758 million contracts set over the past session. XOM shares’ daily volume is compared to its average trading volume at 23 million shares. However, it has a float of 4230 million and although its performance was 3.23% over the week, it’s one to watch. Analysts have given the XOM stock a yearly average price target of $47.92 per share. It means the stock’s upside potential is 10.31% with the XOM share price recently placing at $42.81 to $43.52. However, some brokerage firms have priced the stock below the average, including one that has called $39.
The shorts are running away from the Exxon Mobil Corporation stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the XOM shares have declined. Short interest in the stock represents just 1.25% of its float, but the volume has dropped by 0.
In the last trading session, Exxon Mobil Corporation (NYSE:XOM) raised by $1.36 over the week and gained $0.79 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $75.18. The stock recorded its established 52-week high on 09/16/19.
Since 03/23/20, the stock has traded to a low of $30.11 at 44.27%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.33. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Exxon Mobil Corporation’s two-week RSI is 45.54. This suggests that the stock is neutral at the moment and that XOM shares’ price movement remains stable. The stochastic readings are equally revealing at 63.86% meaning the XOM share price is currently in neutral territory.
The technical chart shows that the XOM stock will likely settle at between $43.7 and $43.97 per share. However, if the stock dips below $42.99, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $42.55.
Currently, the stock is trading in the green of MACD, with a reading of 0.51. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Standpoint Research cut their recommendation for XOM from Buy to Hold in June 09 review. Exane BNP Paribas analysts upgraded their recommendation of the stock from Underperform to Neutral in a flash note released to investors on May 13. Argus seeing the stock struggling downgraded it from Buy to Hold on April 02.
The average rating for the XOM equity is 3.08 and is currently gathering a bearish momentum. Of 25 analysts tracking Exxon Mobil Corporation polled by Reuters, 18 rated XOM as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 5 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the XOM stock price is 28.54X ahead of its 12-month Consensus earnings per share estimates.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Exxon Mobil Corporation (NYSE:XOM) will increase by about 45.04%, which will see them reach $47180 million. The company’s full-year revenues are, however, expected to diminish by about -29.78%, down from $264940 million to $186040 million. XOM’s expected adjusted earnings should drop almost -104.48% to end up at -$0.03 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -104.91% to record -$0.11/share.