U.S. oil company Exxon Mobil Corp. (XOM) will release its Q4 2024 financial results on January 31. XOM shares have fallen by approximately 6% in the past six months, due to a decline in oil prices, narrower refining margins, and growing market volatility. Wall Street analysts expect the company to report earnings of $1.55 per share for Q4, down 37.5% year-over-year.
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Meanwhile, revenues are expected to reach $86.33 billion, up 7% year-over-year, according to data from the TipRanks Forecast page below. As Q4 approaches, it’s worth noting that Exxon Mobil has surpassed consensus EPS estimates in six out of the nine quarters.
Analysts’ Views on XOM Ahead of Q4 Results
Ahead of Exxon Mobil’s Q4 results, Devin McDermott of Morgan Stanley raised the company’s price target to $141 from $140, maintaining an Overweight rating. The firm increased its 2025 EBITDA estimates for the North American exploration and production group.
Meanwhile, Truist raised its price target on Exxon Mobil to $119 from $117, while maintaining a Hold rating. The firm anticipates oil and natural gas prices to stay stronger this year than many investors expect, supporting higher earnings and free cash flow.
According to TipRanks’ Bulls Say, Bears Say tool, bullish analysts highlight Exxon Mobil’s plan to grow earnings by over $20 billion and cash flow by $30 billion through key projects and cost cuts. Nevertheless, bearish analysts warn that XOM faces weaker refining margins. They also highlight that the company remains vulnerable to macro risks, with earnings dependent on volatile oil and gas prices.
Options Traders Anticipate a Minor Move
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting a 2.64% move in either direction.
Is XOM Stock a Buy?
The stock of Exxon Mobil has a consensus Moderate Buy rating among 18 Wall Street analysts. That rating is based on 13 Buy and five Hold recommendations issued in the last three months. The average XOM price target of $132.83 implies a 22% upside from current levels.
