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Why Exxon Mobil (XOM) Outpaced the Stock Market Today
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Exxon Mobil (XOM - Free Report) closed the latest trading day at $97.91, indicating a +1.13% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.43%.
Coming into today, shares of the oil and natural gas company had lost 4.99% in the past month. In that same time, the Oils-Energy sector lost 5.56%, while the S&P 500 gained 2.08%.
Analysts and investors alike will be keeping a close eye on the performance of Exxon Mobil in its upcoming earnings disclosure. The company's earnings report is set to go public on February 2, 2024. The company is forecasted to report an EPS of $2.22, showcasing a 34.71% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $91.81 billion, down 3.79% from the year-ago period.
Any recent changes to analyst estimates for Exxon Mobil should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 3.64% 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 10.29. This expresses a premium compared to the average Forward P/E of 6.58 of its industry.
We can also see that XOM currently has a PEG ratio of 3.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. XOM's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why Exxon Mobil (XOM) Outpaced the Stock Market Today
Exxon Mobil (XOM - Free Report) closed the latest trading day at $97.91, indicating a +1.13% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.29%. At the same time, the Dow lost 0.25%, and the tech-heavy Nasdaq gained 0.43%.
Coming into today, shares of the oil and natural gas company had lost 4.99% in the past month. In that same time, the Oils-Energy sector lost 5.56%, while the S&P 500 gained 2.08%.
Analysts and investors alike will be keeping a close eye on the performance of Exxon Mobil in its upcoming earnings disclosure. The company's earnings report is set to go public on February 2, 2024. The company is forecasted to report an EPS of $2.22, showcasing a 34.71% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $91.81 billion, down 3.79% from the year-ago period.
Any recent changes to analyst estimates for Exxon Mobil should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 3.64% 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 10.29. This expresses a premium compared to the average Forward P/E of 6.58 of its industry.
We can also see that XOM currently has a PEG ratio of 3.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. XOM's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 112, which puts it in the top 45% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.