To The Moon

Oil stocks enjoy broad rally as crude prices jump with $Exxon Mobil(XOM)$ at an 8-year high Recently, U.S. energy stocks have generally skyrocketed. Oil and gas giant Exxon Mobil soared on the last trading day, closing up 4.57% to $103.37, hitting a new high in nearly eight years. Shares of US energy giant Exxon Mobil have had a remarkable run during the past two years. After surging 67% in 2021, it has gained another 61.2% this year, making the stock as one of the best trades in the post-pandemic environment. Some Wall Street analysts remain bullish on Exxon Mobil, raising their price targets and earnings forecasts. Wall Street giant Evercore ISI upgraded Exxon Mobil to "outperform" and raised its price target to $120 from $88. Evercore believes that while Exxon Mobil's stock price has soared along with rising oil prices, it is still relatively cheap. Credit Suisse raised its price target on Exxon to $115 from $102 and raised its full-year operating EPS forecast. Credit Suisse analyst Manav Gupta expects higher earnings from Exxon's refining business and continued increases in natural gas prices. Goldman Sachs raised its target price on Exxon Mobil from $104 to $117. Goldman Sachs remains bullish on oil prices and is bullish on refiners. In addition, Goldman Sachs also raised its oil price target again, expecting it to reach $140 a barrel, up from its previous target price of $125. Geopolitical turmoil, supply chain troubles, and rising risk aversion in the market have pushed up the prices of commodities since this year. Oil and gas prices soared while U.S. energy stocks strengthen. On the last trading day, not only did Exxon Mobil rise sharply, but also U.S. energy stocks ushered in a collective surge. $APA Corporation(APA)$ rose 5.85%, and its shares hit a 52-week high. $Valero(VLO)$ Valero Energy rose 4.6%, $ConocoPhillips(COP)$ rose 4.5% and hitting a record high during the session. In addition, Saudi Aramco’s share price surpassed technology giant Apple in May this year to become the world’s most valuable company. When Apple becomes second, shall we invest SAUDI? SHARE YOUR THOUGHTS As oil prices rally, $Exxon Mobil(XOM)$ is at an 8-year high. Is XOM a buy now? You may be rewarded with Tiger Coins for sharing your thoughts in the comment💸💸💸 Follow me! Don't forget I am the richest tiger in this community😎😎