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.
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.