uploads///us integrated

XOM, CVX, and OXY Trade below 20- and 100-Day Moving Averages

By

Jan. 27 2016, Updated 10:07 a.m. ET

Moving averages

US-based (SPY) integrated oil and gas companies ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY) are trading an average of 7.6% below their respective 100-day moving averages, as of yesterday’s close. ExxonMobil is 5% below its 100-day moving average, and Chevron and Occidental Petroleum are trading 6.3% and 11% below their respective moving averages. The United States Oil Fund (USO) is trading 33% below its 100-day moving average.

On average, these three integrated oil and gas companies are trading 4% below their respective 20-day moving averages. ExxonMobil is trading 3.4% below its 20-day moving average, and Chevron and Occidental Petroleum are trading 4.9% and 3.8% below their respective 20-day moving averages.

Article continues below advertisement

Chevron’s 52-week high is ~$112. 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 $80. On a closing basis, the stock has stayed above or close to $80 since October 2015. The stock closed at $80.89 in yesterday’s trade. Chevron has a weight of more than 10% in the Energy Select Sector SPDR Fund (XLE).

Wall Street analysts’ consensus estimates

Wall Street analysts’ consensus estimates suggest a 17.3% upside for these three integrated energy companies. Over the next 12 months, ExxonMobil and Chevron could see rises of 11% and 19%, respectively, and Occidental Petroleum could see a 21.8% rise. The above chart shows the moving averages and analysts’ estimates for these integrated oil and gas companies.

Advertisement

More From Market Realist

  • Roger Altman
    Miscellaneous
    How Evercore Chairman Roger Altman Made His Millions
  • ZeroHedge logo
    Miscellaneous
    Financial Blog ZeroHedge's Controversial Foray Into Political News
  • George Clooney
    Miscellaneous
    George Clooney’s $600K Tequila Investment Made Estimated $233 Million
  • WallStreetBets and silver advertisement
    Miscellaneous
    Silver Squeeze 2.0 and Wall Street Silver, Explained
  • CONNECT with Market Realist
  • Link to Facebook
  • Link to Twitter
  • Link to Instagram
  • Link to Email Subscribe
Market Realist Logo
Do Not Sell My Personal Information

© Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.