Wells Fargo analysts Roger D. Read and Lauren Hendrix reiterated an Outperform rating on Exxon Mobil Corporation (NYSE: XOM), assuring the company remains one of their top picks in the oil and gas sector. The analysts believe it's unlikely for the company to deliver much production growth. However, they believe the firm can post "industry leading returns, dividend growth [as it has for 34 consecutive years] and solid shareholder returns."
Related Link: Chevron, Exxon Shareholders Vote On A More Proactive Approach To Climate Change
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The analysts went on to explain that, in their view, Exxon Mobil's "diversified business model, focus on risk-adjusted returns and project management track record" are strong positives in the current market. However, they decided not to adjust their EPS estimates, which stand at $0.55 for the ongoing quarter, and at $2.62 for the full year, but pointed out that these figures leave room for some upside given the recuperating oil prices.
The analysts set a valuation range of $93 to $98 for shares of Exxon Mobil, based on their EPS estimate of $4.76 for fiscal 2018.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.