D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Exxon Mobil Corporation (NYSE:XOM)’s shares have experienced a notable downturn, touching a 52-week low of $104.77. According to InvestingPro data, the oil giant maintains a robust market capitalization of $455.7 billion and trades at an attractive P/E ratio of 13.4x. This latest price level reflects a challenging period for the oil and gas giant amidst a volatile market environment. While the stock currently appears undervalued based on InvestingPro’s Fair Value analysis, investors can take comfort in the company’s impressive 3.68% dividend yield and 42-year streak of consecutive dividend increases. Investors are closely monitoring the company’s performance, as the energy sector faces dynamic shifts in supply, demand, and regulatory landscapes. The 52-week low serves as a critical marker for Exxon Mobil, as stakeholders consider the company’s strategic moves to navigate through the current economic conditions. The company maintains a "GOOD" financial health score, with InvestingPro analysis revealing 10+ additional insights available to subscribers.
In other recent news, ExxonMobil reported its fourth-quarter 2024 earnings, which fell short of analysts’ expectations. The company posted earnings per share (EPS) of $1.67, missing the forecast of $1.77, and revenue was reported at $83.43 billion, below the anticipated $85.35 billion. Despite this, ExxonMobil recorded its third-highest annual earnings in a decade, with a total of $34 billion for 2024. Analyst firms have adjusted their price targets for ExxonMobil, with UBS lowering its target to $146 while maintaining a Buy rating, and Mizuho (NYSE:MFG) reducing its target to $131 with a Neutral rating. Truist Securities maintained a Hold rating with a price target of $119, citing challenges in the energy sector due to weak refining margins. ExxonMobil’s management emphasized upcoming projects in 2025 aimed at enhancing its production capabilities, particularly in the Permian Basin and Guyana. The company is also focusing on strategic investments in low carbon solutions and new business ventures, with a goal of significant earnings growth by 2030. These developments come as ExxonMobil continues to navigate a complex market environment influenced by fluctuating oil prices and geopolitical factors.
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