Exxon Mobil Stock Moves Higher on Bull Notes

The majority of analysts are skeptical of Exxon Mobil stock

Digital Content Manager
Jun 15, 2021 at 9:42 AM
facebook X logo linkedin


The shares of Exxon Mobil Corporation (NYSE:XOM) are up 1.2% to trade at $62.83 this morning, after a price-target hike from Credit Suisse to $72 from $69. Meanwhile, Bank of America Securities reiterated its "buy" rating, predicting the energy giant is likely to hike its dividend before the end of 2021 thanks to rebounding oil prices and cost-cutting initiatives. 

Exxon Mobil stock has spent the last month trying to to overtake its May 10 annual high of $64.02. Support is in place at the shares' 60-day moving average, a trendline not breached on a closing basis since November, a few weeks before our "buy the dip" piece in December. Though XOM remains far from its pre-pandemic levels over $70, the stock is up 51% in 2021.

Analysts were mostly hesitant towards Exxon Mobil stock coming into today, with 10 of the 16 in coverage carrying a tepid "hold" rating, while six said "strong buy." Meanwhile, the 12-month consensus target price of $64.81 is a slight 3.7% premium to XOM's current levels.

The options pits have been more optimistic, with calls popular. This is per XOM's 50-day call/put volume ratio of 4.50 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands in the 95th percentile of its annual range. In other words, long calls are being picked up at a faster-than-usual rate in the last two months.

Now seems like a great time to bet on the equity's next move with options. The security's Schaeffer's Volatility Index (SVI) of 26% sits in the extremely low 3rd percentile of its 12-month range, suggesting option players are pricing in low volatility expectations at the moment. 

Finally, XOM's Schaeffer's Volatility Scorecard (SVS) ranks at 89 out of 100. This is great news for options buyers, as it implies the stock usually outperforms these volatility expectations. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI