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ExxonMobil Corp. Pending 4Q Financial Report

1/11/2023 2:56 PM

Shares of ExxonMobil Corp., a US oil company, are correcting in an uptrend at 110.00.

The corporation's management expects fourth-quarter operating income to reach 15.4B dollars, bringing it to 58.0B dollars. However, on a per-share basis, the value may be lower than in previous periods, as oil quotes on world exchanges retreated from their highs. The company estimates low gas prices will prevent about 2.4B dollars in additional income and about 1.7B dollars for oil. EPS hit 3.44 dollars, above FactSet Research Systems Inc. analysts' forecast of 3.33. Considering positive forecasts, analysts of the financial conglomerate Goldman Sachs have confirmed the Buy rating on the issuer and set the target price at 116.00 at the current quotation of 110.00.

In terms of dividend policy, a continuation of the payout of 0.91 dollars per share is likely, up from the 0.88 dollars recorded last year. Investors can expect an average yield of 3.20% per annum in this case.

On the daily chart, the trading instrument is moving within an ascending channel.

Technical indicators reinforce the buy signal: the AO oscillator histogram is growing in the buy zone, and fast EMAs on the Alligator indicator are moving away from the signal line, expanding the range of fluctuations.

Support levels: 107.50, 102.00. | Resistance levels: 112.00, 116.00.

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