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PerplexityGoldman Sachs Stays On The Sidelines On Exxon Mobil - Here's Why Goldman Sachs analyst Neil Mehta cut the price forecast for Exxon Mobil Corporation (NYSE:XOM) from $125 to $123 ahead of the company’s fourth-quarter results, which will be reported on January 31, 2025. The analyst updates ExxonMobil estimates to reflect mark-to-market commodity prices and incremental Upstream guidance, maintaining a Neutral rating. While the company benefits from strong execution, shareholder returns (~8% capital returns yield in 2025/2026), and premium Upstream assets (Permian, Guyana, LNG), its relative valuation keeps the analyst on the sidelines. On January 8, the oil giant stated that it anticipates changes in oil prices to reduce fourth-quarter upstream earnings Q/Q by $(0.9) billion to $(0.5) billion. On the other hand, Exxon Mobil projects that variations in industry margins will impact energy products earnings by $(0.7) billion – $(0.3) billion, specialty products earnings by $(0.1) billion – $0.1 billion, and chemical products earnings by $(0.5) billion – $(0.3) billion. The analyst writes that this implies a ~$1.50 EPS midpoint, with Upstream, Downstream, and Chemicals earnings below versus prior GS expectations. Mehta’s 2024-2026 EPS estimates are revised to $7.63 (from $7.91), $8.17 (from $8.35) and $9.97 (from $9.71), respectively, reflecting mark-to-market commodity prices and refining margins, production adjustments, and pricing realization tweaks. Investors can gain exposure to XOM via Vanguard Energy ETF (NYSE:VDE) and SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE). Price Action: XOM shares are down 1.28% at $108.74 at last check Friday. Read Next: Trump Signs Orders To Take US Out Of Paris Climate Agreement, Calls The Deal ‘One-Sided’ And Unfair Photo via Shutterstock Latest Ratings for XOM Date Firm Action From To Mar 2022 Wells Fargo Maintains Overweight Mar 2022 MKM Partners Maintains Buy Mar 2022 BMO Capital Maintains Market Perform View More Analyst Ratings for XOM View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? EXXON MOBIL (XOM): Free Stock Analysis Report This article Goldman Sachs Stays On The Sidelines On Exxon Mobil - Here's Why originally appeared on Benzinga.com © 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View Comments
Goldman Sachs Stays On The Sidelines On Exxon Mobil - Here's Why
25 January 2025 08:38 AM NZDT
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