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Exxon Mobil Stock Targeted at $92

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July 29, 2011 – Comments (0) | RELATED TICKERS: XOM

Exxon Mobil is a mega oil company. So it probably isn’t surprising that their stock prices are pretty high. However, with XOM’s large earnings recently released, their stock is expected to climb even higher. Trefis Team explains why the stock could reach the $92 mark, and how XOM got there in the first place. 

 

Upstream production revenues expected to jump

High oil prices helped BP increase its profits by 13% this quarter despite a 11% drop in production volumes. [1] While BP’s volumes may have declined because of the divestment plan it was forced take in order to pay for the Gulf of Mexico spill, production volumes at Exxon are expected to stay at the historic levels of over 4 million barrels of energy equivalent a day and thereby help the company report higher revenue growth.

Exxon also has had significant success in its exploration and production efforts this quarter with a major find in the Gulf of Mexico. Exxon has maintained a reserve replacement ratio of around 95% for liquids and 158% for its gas reserves which should allow it to maintain its production levels over the future. (See: Exxon Makes Major Deepwater Find in the Gulf of Mexico)"

 

Additional research here: http://turnkeyoil.com/2011/07/29/exxon-mobil-stock-targeted-at-92/

 

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