ExxonMobil

Fundamental analysis
ExxonMobil is one of the world’s largest mining companies and one of the largest companies in the U.S. by many metrics (sales, company value, etc.). It is a direct descendant of the Standard Oil Company, which controlled up to 90% of the US oil market in the 19th century and made John D. Rockefeller the richest man in the US and the world. Today, the company is based in Houston, Texas, although its official headquarters are in New Jersey.
For 2022, it had a turnover of $413 billion. The GDP of the Czech Republic is about 280 billion USD and the turnover of Alphabet (Google) for 2022 is also about 280 billion USD. So about 67% of Exxon’s turnover.
The company’s main product is the extraction of oil and other minerals around the world. The share price is thus very much tied to the oil price.
Results
In 1Q 2023, the company posted a record profit of $11.4 billion as it managed to cut costs and create further internal improvements. It increased oil production by 300,000 barrels per day.
It also struck additional new discoveries in Guyana.
Earnings per share were US$2.49.
The company aims to reduce its costs by US$9 billion in 2023. It has already managed to reduce costs by US$7.2 billion as of the date of the report.
The company’s PE is 7. The industry average is 7.3.
Technical analysis
On the D1 chart, the two moving averages crossed signaling the end of the uptrend the stock has been in since 2021. In that time, it has risen roughly 120%. Since October, the stock has been in a channel defined by two resistances between the prices of $115 and 10