Exxon Mobil Q2: Pioneer Assets Create More Upside Potential

Summary:

  • Exxon Mobil Corporation stock delivered strong Q2 earnings, beating consensus estimates on both lines.
  • In particular, the progress and benefits from the Pioneer assets integration far exceeded my earlier expectations.
  • The Pioneer acquisition boosts Q2 production to record levels, and I also expect it to lower breakeven costs.
  • Combined with other catalysts, I see good odds for its share price to reach $174 in the next 1–2 years.

Aerial View of a Oil Refinery and Fuel Storage

CHUNYIP WONG

XOM stock: Q2 recap

I last analyzed Exxon Mobil Corporation (NYSE:XOM) stock in mid-July. As you can see from the following screenshot, that article was titled “Exxon Mobil: Buy The Dip” and was published


Analyst’s Disclosure: I/we have a beneficial long position in the shares of CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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