In an earnings preview of ExxonMobil (NYSE:XOM) by Barclays, they see the energy giant coming in a penny short on fourth quarter earnings.
Barclays says, "We expect XOM to report 4Q10 EPS of $1.59 per share, compared to consensus of $1.60 per share...Upstream: Earnings are expected to be $6,677 million or $15.1/boe, up 13% q-o-q but flat y-o-y. Production is expected to be 2,455 mboe/d, up 3% y-o-y...Downstream: We expect downstream earnings of $522 million, compared to $1,160 million in 3Q10 and a loss of $189 million in 4Q09...Chemicals: We forecast income of $1,409 million, up 97% y-o-y and up 15% q-o-q."
Barclays reiterates an "Equalweight" rating on ExxonMobil (XOM), which closed Thursday at $79.88, up $0.22, or 0.28 percent. Barclays has a price target of $85 on Exxon.
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