Energy ETFs In Focus After Exxon Flags $1.5 Billion Profit Hit
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Exxon Mobil's Earnings Warning: Exxon Mobil Corp has warned that declining oil and natural gas prices could lead to a $1.5 billion drop in its second-quarter earnings compared to the first quarter, signaling potential challenges for the broader oil and gas industry.
Impact on Energy ETFs: The warning may negatively affect energy-focused ETFs, which have seen strong performance recently; investor inflows into these funds are already showing signs of decline, with concerns about future demand as inflation softens and the Federal Reserve considers rate cuts.
Analyst Views on IEO
Wall Street analysts forecast IEO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for IEO is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 94.120
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Current: 94.120
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
