Energy

What to Expect When Chevron and Exxon Report Earnings on Friday

Chris Lange

Published: July 27, 2017 1:15 pm

Last Updated: January 12, 2020 9:41 am

Chevron Corp. (NYSE: CVX) and Exxon Mobil Corp. (NYSE: XOM) are both scheduled to release their most recent quarterly reports before the markets open on Friday. Crude oil saw its largest gain on the year earlier this week, which has helped boost these stocks. Also a few other oil and gas companies have reported and there has been a positive sentiment growing as this week has gone on.

Separately 24/7 Wall St. has also covered five major energy companies that reported on Thursday leading up these two major reports.

In terms of the forecast for Chevron, Thomson Reuters has consensus estimates of $0.87 in earnings per share (EPS) and $32.67 billion in revenue. The company had reported $0.35 in EPS and revenue of $29.26 billion in the same period from last year.

For Exxon, consensus estimates call for EPS of $0.84 and $61.92 billion in revenue. The second quarter of last year reportedly had $0.41 in EPS and $57.69 billion in revenue.

Analysts were fairly positive on each of these stocks ahead of the earnings reports. Analysts had this to say about Chevron:

• Citigroup has a Buy rating with a $118 price target.
• Wells Fargo has an Outperform rating with a $102 price target.
• Wolfe Research has a Market Perform rating.
• Barclays has an Overweight rating with a $125 price target.
• RBC has an Underperform rating with a $100 price target.

For Exxon:

• Citigroup has a Neutral rating with an $84 price target.
• RBC has a Neutral rating with an $88 price target.
• Wolfe Research has an Underperform rating.
• JPMorgan has a Neutral rating with an $81 price target.
• Barclays has an Overweight rating with a $94 price target.

Even with the ups and downs of crude oil this year and the U.S. broad markets hitting record highs, Chevron and Exxon have lagged the markets, with each company’s stock down about 11% year to date. Although, over the past 52 weeks Chevron is actually up 2%, while Exxon is down closer to 12%.

Shares of Chevron were last seen trading at $105.57, with a consensus analyst price target of $116.24 and a 52-week range of $97.53 to $119.00.

Exxon shares traded at $80.42. The stock has a 52-week range of $79.26 to $93.22 and a consensus price target of $83.03.