Exxon Mobil: $100 Oil Could Be A 2024 Black Swan (Rating Upgrade)

Summary:

  • Recent corrections in Exxon Mobil Corporation stock prices are overdone.
  • Geopolitical disruptions and demand-supplier imbalances could drive both oil prices and Exxon stock prices higher.
  • In the meantime, Exxon’s current valuation is too compressed, offering a sizable margin of safety.

White paper swans and one black as symbol of unpredictable event.

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XOM: Recent corrections are overdone

We last wrote on Exxon Mobil Corporation (NYSE:XOM) about 4 months ago with the goal of urging investors to take some profits (see the chart below). The stock prices indeed suffered substantial corrections afterward, losing


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