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ExxonMobil Corp. Reports Record Profit

11/1/2022 2:39 PM

Shares of the American oil company ExxonMobil Corp. are correcting in an uptrend and are near the 110.00 mark.

The financial report demonstrated a historically record net profit of 19.66B dollars, and quarterly revenue amounted to 112.07B dollars, significantly exceeding analysts' forecast of 107.24B dollars. Another high was set by earnings per share (EPS), reaching 4.45 dollars, which is higher than 4.14 dollars a quarter earlier and significantly exceeds analysts' expectations of 3.67 dollars. According to the company's chief executive Darren Woods, this was achieved thanks to active investment in the industry, even despite the pressure of high inflation. Since the beginning of the year, ExxonMobil Corp. invested 43.0B dollars, which is 19.0% higher than the company's previous record in 2008. 

As for dividends, taking into account the growth of stocks and financial indicators, the payment of 0.88 dollars per security has become quite attractive. A new payment date has not yet been set, but the potential yield of 3.90%-4.10% for the quarter is able to attract new investors.


The price continues to trade in the global ascending channel, having reached the resistance line.

Technical indicators are in a state of an increasing buy signal: the histogram of the AO oscillator rises in the buy zone, and the fast EMAs on the alligator indicator move away from the signal line, expanding the range of fluctuations.

Support levels: 108.00, 97.00. | Resistance levels: 113.00, 120.00.

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