Exxon Mobil Corporation (XOM)

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Earnings Preview: Exxon Mobil Corp. (NYSE: XOM)
By: 24/7 Wall St. | July 27, 2022

• Here’s a look at four companies set to report results before markets open Friday morning.

Exxon Mobil

Shares of Exxon Mobil Corp. (NYSE: XOM) have risen by almost 57% over the past 12 months. Like Chevron, the company’s stock decreased by nearly 21% in the period between early June and mid-July. Investors will be looking at Exxon to share some of its windfall profits either through buybacks or a special dividend. One analyst estimates that the company could report year-over-year profit growth of 400%.

Of 27 analysts covering the stock, 14 rate the shares a Hold, seven give the stock a Strong Buy rating, and five more rate the shares a Buy. At a current price of around $90.75, the upside potential based on a median price target of $100.00 is 10.2%. At the high target of $125.00, the upside potential is 37.7%.

Second-quarter revenue is forecast at $111.67 billion, up 23.4% sequentially and 64.9% year over year. Adjusted EPS is pegged at $3.89, up 87.9% sequentially and 254% year over year. For the full 2022 fiscal year, current estimates call for EPS of $12.06, up 124.2%, on sales of $413.68 billion, an increase of almost 45%.

Exxon shares trade at a multiple of 7.5 times expected 2022 EPS, 9.1 times estimated 2023 earnings of $10.00, and 10.7 times estimated 2024 earnings of $8.49 per share. The stock’s 52-week range is $52.10 to $105.57, and Exxon pays an annual dividend of $3.52 (yield of 3.93%). Total shareholder return for the past 12 months was 64.9%.

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