Exxon Mobil down marginally after flagging hit to second-quarter profit
Shares of top U.S. oil producer Exxon Mobil XOM.N slip premarket to $110.81
Warned on Monday that lower oil and gas prices could cut its second-quarter earnings by about $1.5 billion from the previous three months
Posted a total profit of $7.71 billion in Q1
Energy major expected to post an adjusted profit of $1.53 per share in Q2, according to estimates compiled by LSEG
"We see little fanfare with this release, and even on timing effects, the combined upstream and downstream result is broadly neutral," says RBC Capital Markets
Brokerage Piper Sandler lowers its Q2 estimate for profit to $1.52 per share, from $1.67 previously
However, brokerage raises PT on stock to $134 from $131; adds it now expects Brent crude to average $67/bbl in 2025 vs prior view of $63/bbl
As of last close, XOM stock is up 3.3% YTD
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