Exxon Mobil (NYSE:XOM) Broke Out and is Headed North


Both Chevron (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) are considered among the Big Oil players still winning out in Y 2030. 

Some analyst comments have been cautious based on investors having piled back into Chevron based on it having a stronger balance sheet, and perhaps it as reisen too far too fast after bottoming out at just above 50, Chevron stock price marked 103.50 this week before selling off a few points and dipping back below 100.

Exxon Mobil has a $200-B market cap but its 52.00 share price is up less than Chevron’s as its lows in panic selling wave was down closer to 30.00. But XOM broke out on 1 June at 46.28.

Exxon Mobil’s consensus price target is at 50.15, but my work has the Key technical indicators flashing Very Bullish Wednesday and my price target is at 80/85/share and higher later. Exxon Mobil out-yields Chevron with a 6.5% dividend.

My view is that Exxon Mobil will see a strong recovery after yrs of lagging. XOM has begun more than 30 major projects with stronger cash margins compared to its legacy base business.

Have a healthy day, Keep the Faith!

#chevron#Crude Oil#CVX#Exxon Mobil#XOM