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Moving Averages and Analyst Estimates for Integrated Oil and Gas Companies

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Jan. 28 2016, Updated 10:07 a.m. ET

Moving averages of US-based oil and gas companies

US-based (SPY) integrated oil and gas companies Exxon Mobil Corporation (XOM), Chevron Corporation (CVX), and Occidental Petroleum Corporation (OXY) were trading at an average of 4.5% below their respective 100-day moving averages as of January 26, 2016. Exxon Mobil was trading nearly 1.6% below its 100-day moving average, and Chevron and Occidental Petroleum were trading 2.7% and 9.1% below their respective moving averages. The United States Oil Fund (USO) is trading 31% below its 100-day moving average.

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Breaking down key moving averages

On average, these three integrated oil and gas companies—Exxon Mobil, Chevron, and Occidental—are trading on par with their respective 20-day moving averages. Exxon Mobil is trading 0.25% above its 20-day moving average, and Chevron and Occidental Petroleum are trading 0.7% and 1.1% below their respective 20-day moving averages.

Exxon’s 52-week high is about $93.45. The stock struggled during February and April 2015. Since April, the stock has been in a continual falling trend. Right now, the stock is trading close to its important support level of $75. On a closing basis, the stock has stayed near $75 since the start of January. The stock closed January 26 at $76.7. Exxon has a weight of about 18.4% in the Energy Select Sector SPDR Fund (XLE).

Wall Street analyst consensus estimates

Wall Street analyst consensus estimates suggest a 12% upside for these three integrated energy companies. Over the next 12 months, Exxon Mobil and Chevron could see rises of 5.1% and 13.3%, respectively, and Occidental Petroleum could see a 17.7% rise. The above chart shows the moving averages and analyst estimates for these integrated oil and gas companies.

Now let’s continue our moving average analysis while checking out the energy scene in China.

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