Exxon Mobil Trades Flat As Investors Await Q3 Earnings Report

Core Viewpoint - Exxon Mobil Corp is expected to report strong third-quarter earnings, with analysts projecting earnings of $1.81 per share and revenues of $84.87 billion, driven by favorable market conditions and strategic expansions [2][3]. Group 1: Earnings Expectations - Analysts anticipate a robust quarter for Exxon, with consensus estimates of $1.81 earnings per share and $84.87 billion in revenues [2]. - A conference call with executives is scheduled for 9:30 a.m. ET following the earnings release [2]. Group 2: Market Conditions - The stock has recently benefited from a sector-wide rally due to U.S. sanctions against Russian oil producers, which have increased crude prices and enhanced Exxon's profitability [2]. - Wall Street sentiment remains positive, with firms like Wells Fargo and UBS maintaining bullish ratings on Exxon [3]. Group 3: Strategic Developments - Exxon has expanded its global footprint by securing its first sale of Guyanese crude oil to refiners in India, marking a significant growth opportunity [3]. Group 4: Stock Performance - As of Thursday, Exxon shares were down 1.57% at $114.69, trading within a 52-week range of $97.80 to $123.21, but showing a year-to-date performance increase of 7.7% [5]. - The stock is trading approximately 2.3% above its 50-day moving average of $112.96 and about 5% above its 200-day moving average of $110.01, indicating a bullish trend [6]. - The relative strength index (RSI) is at 61.31, suggesting a neutral position for the stock [6]. Group 5: Investment Options - Investors can purchase Exxon shares directly or through exchange-traded funds (ETFs) that include Exxon, providing exposure to the energy sector [7][8].