Exxon Mobil's Q2 Earnings Expectations and Analyst Insights

Exxon Mobil Prepares for Upcoming Earnings Release
Exxon Mobil Corporation (NYSE: XOM) is gearing up for its second-quarter earnings report, anticipated to be announced before the market opens on an upcoming Friday morning.
Anticipated Earnings and Revenue for the Quarter
Analysts predict that the Texas-based energy giant will post earnings of $1.56 per share this quarter, a notable decrease compared to $2.14 per share from the same quarter last year. Revenue figures are also expected to be lower, with projections estimating total revenues around $80.5 billion, down significantly from $93.06 billion recorded a year ago.
Recent Developments Impacting Exxon Mobil
In recent news, Chevron Corporation (NYSE: CVX) secured a legal victory against Exxon Mobil regarding offshore oil assets from Hess Corp (NYSE: HESS) located in Guyana. This development was confirmed by Exxon CEO Darren Woods during a recent interview with a media outlet.
Despite the ongoing challenges, Exxon Mobil shares experienced a minor decline of 0.2%, closing at $111.64 just prior to the earnings announcement.
Analyst Ratings and Forecast Changes
Recent activity from various analysts shows diverse opinions on Exxon Mobil's stock performance. Here are some key insights from analysts:
- Piper Sandler's Ryan Todd keeps an Overweight rating with an adjusted price target, rising from $131 to $134, reflecting a solid accuracy rate of 68%.
- Wells Fargo analyst Roger Read maintains an Overweight rating, increasing the price target slightly from $126 to $127, backed by a 62% accuracy rate.
- Morgan Stanley's Devin McDermott maintains an Overweight stance, though he has adjusted the price target down from $141 to $138, recording a noteworthy accuracy rate of 78%.
- JP Morgan's John Royall continues with an Overweight rating, also lowering the price target from $130 to $125, with a 61% accuracy rating.
- TD Cowen analyst Jason Gabelman upholds a Buy rating and elevates the price target from $127 to $132, showcasing an accuracy rate of 66%.
Considering Investment in XOM?
If you're contemplating an investment in Exxon Mobil, this analysis could guide your decision-making process and provide valuable insights.
Frequently Asked Questions
1. When will Exxon Mobil release its Q2 earnings report?
Exxon Mobil is expected to announce its Q2 earnings results before the market opens on a Friday morning.
2. What are the anticipated earnings per share for Exxon Mobil?
Analysts expect Exxon Mobil to report earnings of $1.56 per share for the second quarter.
3. How much revenue is Exxon Mobil projected to generate this quarter?
The estimated revenue for this quarter is around $80.5 billion, significantly lower than last year's figures.
4. What recent legal issue has affected Exxon Mobil?
Exxon Mobil lost a dispute to Chevron over Hess Corp's offshore oil assets in Guyana, confirmed by CEO Darren Woods.
5. What are analysts saying about Exxon Mobil's stock?
Various analysts have maintained an Overweight rating on XOM, with adjustments to price targets based on current market conditions.
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