Exxon forecast to beat EPS estimates by RBC, but investors may look ahead

|About: Exxon Mobil Corporation (XOM)|By:, SA News Editor

Exxon Mobil's (NYSE:XOM) dividend increase - the company's smallest on a percentage basis in 15 years - barely caused a ripple in its stock today, but RBC analysts Brad Heffern and Jie Yong expect the company to beat earnings when it reports this Friday.

RBC sees XOM’s upstream division rebounding from a weak Q4 given improved prices and higher sequential production, while downstream should be down sequentially on weaker cracks and the absence of one-time items; all told, the firm estimates Q1 EPS of $0.90, $0.05 above consensus.

Investors may well overlook Q1 results in any case, focusing on where the company may go next; XOM recently bought assets in the Permian Basin, where it doubled its acreage, and its deal to buy natural gas company InterOil recently closed.