Movement Alert|Exxon Mobil Rises 3.37% in Regular Trading, Oil Sector Rallies Broadly Ahead of Q2 Earnings

Market Focus07-29 21:39

On July 29, Exxon Mobil rose 3.37% in regular trading, trading at $157.29/share, with turnover of $87.62 million. The integrated oil and gas sector rallied broadly, with Equinor up 6.08%, BP up 3.84%, Occidental up 3.60%, Chevron up 2.74%, and Shell up 2.39%.

The rally comes as Exxon Mobil approaches its Q2 earnings release on July 31, with consensus EPS expected at $3.84, a sharp increase from $1.16 in the prior quarter. The company previously disclosed that oil price changes could boost Q2 upstream earnings by $3.5 billion to $3.9 billion, driven by the US-Iran conflict pushing crude prices higher, partially offset by approximately $1.2 billion in losses from Middle East production disruptions.

Separately, BofA Securities recently raised its price target on Exxon Mobil to $158 from $154 while downgrading the rating to neutral from buy, citing limited upside following recent share-price gains. The stock is now trading near the revised target level.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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