What Investors Should Look for in ExxonMobil’s 3Q15 Results
(Continued from Prior Part)
Wall Street’s forecasts for ExxonMobil
In this series, we saw what Wall Street expects from ExxonMobil’s (XOM) 3Q15 earnings. Now, we’ll look at Wall Street analysts’ forecasts for ExxonMobil.
Consensus rating for ExxonMobil
Approximately 27% of the Wall Street analysts tracking ExxonMobil rate it a “buy,” ~54% rate it a “hold,” and 19% rate it a “sell.” ExxonMobil accounts for 16.2% of the Energy Select Sector SPDR Fund (XLE).
In comparison, about 57% of the analysts tracking Royal Dutch Shell (RDS.A) rate it a “buy,” ~36% rate it a “hold,” and 7% rate it a “sell.”
Analysts’ recommendations for ExxonMobil
When it comes to individual recommendations, Tudor Pickering, an investment firm specializing in energy, gave ExxonMobil a target price of $75. Currently, ExxonMobil trades near $79. This implies an approximately -5% return over the next 12 months.
RBC Capital Markets, Royal Bank of Canada’s investment-banking arm, gave ExxonMobil a target price of $81. This implies a 2% return over the next year. Scotia Howard Weil, an investment firm specializing in energy, gave ExxonMobil a one-year target price of $84. This implies a 6% return over the next year.
US investment bank J.P. Morgan (JPM) gave ExxonMobil a 12-month target of ~$75. This is one of the lowest target prices. This implies an approximately -5% return from ExxonMobil over the next 12 months. Goldman Sachs (GS), another investment bank, also gave ExxonMobil a one-year target price of $75.
To learn more about the oil and gas industry, visit Market Realist’s Energy and Power page. You can also read Halliburton’s earnings preview, What Investors Can Expect from Halliburton’s 3Q15 Earnings.
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