How Do Energy Companies Compare on Key Moving Averages?
ExxonMobil closes 4% above its 100-day moving average
ExxonMobil (XOM) closed 4% above its 100-day moving average at $82.70 yesterday. On February 22, XOM’s 20-day moving average moved above its 100-day moving average, which is a bullish sign. The stock has stayed above the important $80 support level for three days.
The stock is nearing its psychologically important price level of $85. Since November 5, when it broke below $85, ExxonMobil’s stock has not been able to break back above this level. XOM is trading 8% below its 52-week high and 24% above its 52-week low.
Occidental Petroleum (OXY) is trading 3% above its 100-day moving average, while Chevron (CVX) is trading 1% below its 100-day moving average. On average, these three integrated oil and gas companies are trading 3% above their respective 20-day moving averages. The United States Oil ETF (USO) is trading 19% below its 100-day moving average.
ExxonMobil is trading 2% above its 20-day moving average. Chevron and Occidental Petroleum are trading 2.2% and 4.6% above their respective 20-day moving averages. The Energy Select Sector SPDR Fund (XLE) is trading 4% below its 100-day moving average and 5.2% above its 20-day moving average.
Wall Street analysts’ consensus estimates
Wall Street analysts’ consensus median estimates suggest an average 3% rise for ExxonMobil, Chevron, and Occidental Petroleum. Chevron could see a rise of 8.2%, and Occidental Petroleum could rise 2.7%, based on Wall Street analysts’ consensus median estimates. The chart above shows moving averages and analysts’ estimates for these integrated oil and gas companies.
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