Valued at a market cap of $490.1 billion, Exxon Mobil Corporation (XOM) is a global energy leader with a diversified portfolio across upstream, downstream, chemical, and specialty product segments, supported by a robust dividend history and industry-leading capital discipline. It combines traditional oil and gas expertise with emerging lower-emission business opportunities to deliver long-term value. The Spring, Texas-based company is expected to announce its fiscal Q4 earnings results before the market opens on Friday, Jan. 31.
Ahead of this event, analysts expect the oil giant to report a profit of $1.63 per share, down 34.3% from $2.48 per share in the previous year's quarter. The company has surpassed Wall Street's bottom-line estimates in three of the past four quarters while missing on another occasion. In the most recent quarter, XOM exceeded the consensus EPS estimate by a slight margin.
For fiscal 2024, analysts expect XOM to report EPS of $7.79, down 18.2% from $9.52 in fiscal 2023.
XOM stock has risen 11.6% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 24.4% gain and the Energy Select Sector SPDR Fund's (XLE) nearly 12% return over the same period.
Despite reporting better-than-expected Q3 EPS of $1.92, shares of Exxon Mobil fell 1.6% on Nov. 1 as total revenue of $90 billion missed the consensus estimate and declined year-over-year. The Energy Products segment reported a profit of $1.3 billion, down sharply from $2.5 billion in the prior year, driven by significantly weaker refining margins and divestment of non-core refinery assets. Furthermore, declining crude and natural gas price realizations, including U.S. oil price realization dropping to $72.94 per barrel from $80.45 a year ago, weighed on market sentiment.
Analysts' consensus rating on Exxon Mobil stock is cautiously optimistic, with a "Moderate Buy" rating overall. Out of 24 analysts covering the stock, opinions include 15 "Strong Buys," eight "Holds," and one "Strong Sell." As of writing, XOM is trading below the average analyst price target of $129.91.
