Exxon Mobil Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

Author: Avi Kapoor | August 02, 2024 02:33am

Exxon Mobil Corporation (NYSE:XOM) is set to release earnings results for its second quarter, before the opening bell on Aug. 2, 2024.

Analysts expect the Spring, Texas-based company to report quarterly earnings at $2.01 per share, up from $1.94 per share in the year-ago period. Exxon Mobil is projected to report quarterly revenue of $90.99 billion, compared to $82.91 billion a year earlier, according to data from Benzinga Pro.

Exxon Mobil and its partner CNOOC Ltd have filed arbitration claims, asserting their right of first refusal to any sale of Hess Corp's (NYSE:HES) stake in a Guyana oil-producing joint venture. This move could potentially hinder Chevron Corp's (NYSE:CVX) proposed $53 billion acquisition of Hess.

Exxon Mobil shares fell 1.4% to close at $116.95 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Bernstein analyst Bob Brackett maintained an Outperform rating and cut the price target from $139 to $138 on July 17. This analyst has an accuracy rate of 67%.
• Mizuho analyst Nitin Kumar maintained a Neutral rating and raised the price target from $125 to $128 on May 13. This analyst has an accuracy rate of 69%.
• HSBC analyst Gordon Gray maintained a Hold rating and boosted the price target from $111 to $120 on April 30. This analyst has an accuracy rate of 63%.
• TD Cowen analyst Jason Gabelman maintained a Buy rating and boosted the price target from $128 to $135 on April 30. This analyst has an accuracy rate of 72%.
• Piper Sandler analyst Ryan Todd maintained an Overweight rating and increased the price target from $130 to $145 on April 18. This analyst has an accuracy rate of 73%.

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Posted In: CVX HES XOM