- 64% Barchart technical buy signal Trend Spotter buy signal Trading above its 20-, 50- and 100-day moving averages Five new highs and up 1.11% in the last month Relative strength Index 59.50% Barchart computes a technical support level at 84.79 Recently traded at 87.30 with a 50-day moving average of 83.50
- Wall Street has long considered this stock as a long-term conservative income position and 18 brokerage firms have assigned 20 analysts to formulate projections Analysts project revenue will decrease by 3.7% this year and maybe another 0.20% next year Earnings estimates are for a decrease of 9.9% this year but an increase of 4.7% next year and a continued increase of 8.2% annually for the next five years The consensus estimate resulted in four strong buy, seven buy, nine hold and no underperform or sell recommendations to their clients Analysts think investors could look to realize a total annual return in the 12% to 14% range over the next five years The P/E is 11 compared to a market P/E of 14.3 The 2.62% dividend rate is about 25% of projected earnings and in line with the market dividend rate of 2.50% The balance sheet rates an A++ score TheStreet rating is B+ Although oil usage is down with the economy, oil prices are inching back up The company's production has been down as its present leases mature but expansion into new fields in Russia may bring those production figures back up New industrial chemical production facilities mainly in Saudi Arabia may also increase revenue
- The stock is widely followed by both professional and individual investors, and many individual investor websites have a surprising high number of subscribers having this stock on their watch lists This may not be a good time to enter into new positions in this stock but Raymond James, Goldman Sachs, Oppenheimer and UBS continue to encourage clients to maintain their positions for long-term investors Please note that since the beginning of the year short interest has been slowly inching up as oil prices declined
The stock's price held up well against most of its peers. During the last year XOM was up 12% while Chevron ( CVX) was up 7% as was Royal Dutch Shell ( RDS.A). However, BP ( BP) was down 7%:
Projections for competitors: Chevron At the time of publication the author had no holdings in the stocks mentioned. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
- TheStreet rating A Dividend rate 3.26% Revenue to increase 1.7% this year and 3.4% next year Earnings estimated to decrease by 3.9% this year and another 3.2% next year
- The Street rating C+ Dividend rate 4.78% Revenue projected to be down 11.6% this year but up 3.7% next year Earnings estimated to be down 28.6% this year and return upward 3.3% next year
- TheStreet rating B Earnings estimated to increase by 10.71% this year and another 5.35% next year