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Exxon forecast to beat EPS estimates by RBC, but investors may look ahead

Published 04/26/2017, 05:25 PM
Updated 04/26/2017, 05:25 PM
© Reuters.  Exxon forecast to beat EPS estimates by RBC, but investors may look ahead
  • Exxon Mobil 's (NYSE:XOM) dividend increase - the company's smallest on a percentage basis in 15 years - barely caused a ripple in its stock today, but RBC analysts Brad Heffern and Jie Yong expect the company to beat earnings when it reports this Friday.
  • RBC sees XOM’s upstream division rebounding from a weak Q4 given improved prices and higher sequential production, while downstream should be down sequentially on weaker cracks and the absence of one-time items; all told, the firm estimates Q1 EPS of $0.90, $0.05 above consensus.
  • Investors may well overlook Q1 results in any case, focusing on where the company may go next; XOM recently bought assets in the Permian Basin, where it doubled its acreage, and its deal to buy natural gas company InterOil recently closed.
  • Now read: Exxon Mobil Releases Its XTO Shale Unit To Operate Like A Start-Up


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