Exxon Mobil Corp's Stock Price Falls 3.26% on July 18

Exxon Mobil Corp's (XOM) stock fell 3.26% to $108.02 on Jul 18, a 14.50% drop from its 52-week high of $126.34. Analysts forecast an average price target of $123.95, a 14.75% upside from the current price. The estimated GF Value for XOM is $94.43, suggesting a 12.58% downside from the current price.

Exxon Mobil Corp's (XOM) stock experienced a significant decline on July 18, falling 3.26% to $108.02. This marked a 14.50% drop from its 52-week high of $126.34, reaching an intraday low of $107.95 before recovering slightly to $108.02. The trading volume was substantial, at 16,355,274 shares, representing 94.6% of the average daily volume of 17,289,653 [1].

Analysts have forecasted an average price target of $123.95 for XOM, which would represent a 14.75% upside from the current price of $108.02. The high estimate stands at $140.00, while the low estimate is $95.00. This indicates a range of potential growth for the stock [1].

GuruFocus estimates the GF Value for XOM at $94.43, suggesting a potential downside of 12.58% from the current price of $108.02. The GF Value is calculated based on historical multiples and future performance estimates [1].

In a strategic move, the U.S. Department of Energy has approved the exchange of up to 1 million barrels from the Strategic Petroleum Reserve to address supply issues at Exxon Mobil's Baton Rouge refinery. This action aims to mitigate a crude supply disruption caused by elevated zinc levels in the Mars crude supply [3].

References:
[1] https://www.gurufocus.com/news/2988181/exxon-mobil-corp-xom-trading-down-326-on-jul-18
[3] https://www.gurufocus.com/news/2975745/exxon-mobil-xom-addresses-crude-quality-issue-with-strategic-reserve-exchange