Login to your account

Lost your password?

Oil stocks to buy ahead of next OPEC meeting

Exxon Mobil

Oil giant Exxon Mobil (XOM) has been one of the weaker performing stocks in the sector, but recent sentiment has turned bullish, with the stock trading higher over the last month. The company reported disappointing earnings in late-July, but sales were better than expected. The stock has a P/E of 29.7, with earnings expected to rise by 44.7% this year, and by an additional 12.2% next year. Of course, higher oil prices would result in stronger than expected earnings growth, which would allow the stock to build on recent gains. The stock is currently trading at $82.50, and analysts have an $84.09 average price target on the stock.

xom171010

Chart courtesy of www.stockcharts.com

Symbols: , , , ,

Michael Fowlkes

Michael Fowlkes is a financial writer who has been with the Fresh Brewed Media family since 2004. Over the course of his tenure with Fresh Brewed Media, he has worn many hats, including portfolio manager, options analyst, and writer. Michael received his undergraduate degree from Virginia Tech in Accounting and got his start in finance working as a stock trader for six years at Chase Investment Counsel in Charlottesville, Va.