Exxon Mobil Hints At Profit Boost From Strong Oil And Gas Prices, But Retail Bears Hold Ground

Exxon Mobil (XOM) stock garnered retail attention on Thursday after the company signaled that higher oil and gas prices and stronger refining margins would boost its first-quarter earnings.

In a regulatory filing, the oil major said that changes in liquids and gas prices could boost its earnings by up to $800 million compared to the fourth quarter of 2024.

Oil prices remained volatile during the quarter as plans for an OPEC+ production hike and possibilities of a ceasefire between Ukraine and Russia offset supply concerns from stricter sanctions on Iran and Venezuela.

Gas prices rose during the first quarter due to cold weather in the U.S., which spiked heating demand.

Exxon also said that higher refining margins could boost its earnings between $300 million and $700 million.

The company had posted net earnings of $7.6 billion in the previous quarter. Exxon typically posts its results between the end of April and the first week of May.

According to The Fly, Mizuho analysts expect relatively in-line first-quarter earnings of $1.72 per share.

Exxon had projected lower scheduled maintenance in the first quarter relative to the fourth quarter and a subsequent increase in production volume by about 80 thousand oil-equivalent barrels.

Exxon shares fell 5.3% on Thursday amid oil demand concerns after Donald Trump unveiled fresh tariffs and an output hike by OPEC+.

Retail sentiment on Stocktwits stayed in the ‘bearish’ (35/100) territory with a higher score than a day ago, while retail chatter was ‘high.’

Exxon shares have gained 3.8% year-to-date (YTD).

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