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Exxon Mobil Leads The Oil Sector: Have Both Peaked?

7 18 25
21.07.2022

It's pretty easy to find stocks in freefall these days, especially in sectors like technology and travel and leisure, but energy giant Exxon Mobil (XOM) is correcting in an orderly fashion.

Before examining its current base, let's review its performance over recent time frames:

Yes, you read that right. Throughout all those rolling time periods, Exxon Mobil has notched gains. That's despite a correction in the stock that began on June 9. It fell to a structure low of $83.14 on July 14, a peak-to-trough decline of 21%.

Since then, Exxon Mobil has rallied along with the broader market, with the stock advancing 4.2% so far in July.

Is Exxon Mobil representative of the broader energy sector, or an outlier? And did the sector's mid-June peak mark the apex for the foreseeable future?

Exxon Mobil easily constitutes the largest holding within the S&P 500 energy sector, accounting for 23.31% of sector weightings. It, along with Chevron (CVX), which clocks in at 21.19% of total weighting, clearly have influence over the........

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