Exxon Mobil
Shares of Exxon Mobil Corp. (NYSE: XOM) have risen by nearly 17% over the past 12 months. Unlike Chevron, Exxon did not spill results early, and also unlike Chevron, the share price rose by nearly 2% after Chevron released its performance data.
Two weeks ago, the company announced that it would acquire Denbury for $4.9 billion. Denbury’s established carbon dioxide sequestration operations give Exxon some bragging rights in the clean energy space. It will do little to help stop rising temperatures around the world, though. Exxon and Chevron also wring some benefits out of lower crude prices because it reduces both depreciation and depletion of reserves, helping keep down their cost of capital.
Of 26 analysts covering the stock, 14 rate the shares at Hold, four have a Strong Buy rating and seven rate the shares at Buy. At a price of around $105.00 a share, the upside potential based on a median price target of $119.00 is 13.3%. At the high target of $146.00, the upside potential is 39%.
Second-quarter revenue is forecast at $90.32 billion, up 4.3% sequentially but down 21.9% year over year. Adjusted EPS are pegged at $2.03, down 25.2% sequentially and by 51.0% year over year. For the full 2023 fiscal year, estimates call for EPS of $9.06, down 35.5%, on sales of $358.06 billion, down 13.5%.
Exxon shares trade at 11.6 times expected 2023 EPS, 12.1 times estimated 2024 earnings of $8.69 and 12.3 times estimated 2025 earnings of $8.54 per share. The 52-week trading range is $83.89 to $119.92. Exxon pays an annual dividend of $3.64 (yield of 3.52%). Total shareholder return for the past 12 months was 21.20%.
Procter & Gamble
Dow Jones industrial average component Procter & Gamble Inc. (NYSE: PG) has posted a share price increase of 7.5% over the past 12 months, the result of a jump of more than 9% in the past six months. It is the world’s largest maker of consumer products, and it has leaned heavily on those brands to boost prices and margins. That focus is expected to carry the day for both revenue and profits.
Of 24 analysts covering the stock, 15 have a Buy or Strong Buy rating and eight more have Hold ratings. At a share price of around $154.00, the upside potential based on a median price target of $167.00 is 8.4%. At the high price target of $177.00, the implied gain is 14.9%.
Analysts expect the company to report fiscal 2023 fourth-quarter revenue of $19.99 billion, down 0.4% sequentially but up by 2.4% year over year. Adjusted EPS are pegged at $1.32, down 3.4% sequentially and 9.8% higher year over year. For the full 2023 fiscal year that ended in June, current estimates call for EPS of $5.88, up 1.3%, on sales of $81.51 billion, up 1.7%.
The shares trade at 26.2 times expected 2023 EPS, 24.2 times estimated 2024 earnings of $6.38 and 22.3 times estimated 2025 earnings of $6.91 per share. The 52-week trading range is $122.18 to $158.11. The company pays an annual dividend of $3.76 (yield of 2.5%). Total shareholder return for the past year was 9.95%.
Originally published at 24/7 Wall St.
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