If you look through today’s earnings winners, many of them are oil-related stocks. Today, Exxon Mobil Corp. (NYSE: XOM) said it would announce its earnings on Thursday. It will also have a conference call at 11:00 AM EST. There are still two mornings for estimates to change, but First Call is looking for earnings of $2.39 per share.
These earnings estimates have a fairly tight range of $2.25 to $2.51 EPS. These numbers are also about 11%lower than they were just 90-days ago. Revenue estimates are notreally used for the company but a single estimate of about $131 billionis out there and the company posted $138 billion in revenues lastquarter.
This stock has risen from just $65.00 around the open on Friday andclosed up over 13% at $74.86 today. We would like to point out a chart here from StockCharts.com showing that Exxon Mobil’s stock iscurrently trading right under its 50-day moving average. The stock hasfailed to move much above its rolling 50-day moving average back in September, and this looks to have been some resistance before.
Analysts have an average price target of roughly $86.00 and it was justone week ago when Oppenheimer raised its prior "perform" rating to ahigher "outperform" rating.
While its 52-week trading range is listed as $56.51 to $96.12, we wouldnote specifically that the lowest close seen in recent trading was$62.35 on October 15.
Jon C. Ogg
October 28, 2008