Summary
The U.S. Energy Department is contemplating a $10 billion funding cut, affecting clean-energy projects. Such cuts could potentially disrupt collaborations between the government and energy giants like Exxon Mobil and Occidental Petroleum. Analysts predict a potential upside for Exxon Mobil’s stock price, despite the looming funding reductions.
The U.S. Energy Department’s potential decision to slash nearly $10 billion in funding may have significant repercussions for clean-energy initiatives, especially those involving hydrogen and carbon capture technologies. This move could unsettle existing collaborations between the government and leading energy companies such as Exxon Mobil (XOM, Financial) and Occidental Petroleum (OXY).
Wall Street Analysts’ Insights and Predictions
According to the one-year price targets provided by 25 analysts, the average target price for Exxon Mobil Corp (XOM, Financial) is $124.90. The highest estimate reaches $144.00, while the lowest is $93.00. With the average target suggesting a 16.82% upside from the current $106.92 stock price, detailed projections are available on the Exxon Mobil Corp (XOM) Forecast page.
Moreover, the consensus recommendation from 28 brokerage firms positions Exxon Mobil Corp’s (XOM, Financial) average brokerage recommendation at 2.3, denoting an “Outperform” status. The recommendation scale ranges from 1 to 5, where 1 indicates Strong Buy and 5 suggests Sell.
Looking at GuruFocus estimates, the predicted GF Value for Exxon Mobil Corp (XOM, Financial) over the next year is estimated at $95.31, reflecting a potential downside of 10.86% from the current price of $106.92. The GF Value is calculated based on historical trading multiples, past business growth, and future business performance projections. Investors can access more comprehensive data on the Exxon Mobil Corp (XOM) Summary page.