Exxon Mobil: Not As Shareholder-Friendly As It Should Be, Still Worth Buying


  • Exxon Mobil Corporation continued its string of impressive earnings reports in the fourth quarter of 2022.
  • The company boasted fairly significant YOY growth, although this quarter was not as good as the previous few.
  • The company’s 3% dividend increase was a major disappointment. Exxon Mobil used to be much more shareholder-friendly.
  • The company is unlikely to deliver much near-term production growth, although oil prices will likely go up a bit.
  • The company’s stock price appears significantly undervalued and so it might still be worth purchasing today.

Fracking Oil Well


On Tuesday, January 31, 2023, oil and gas supermajor Exxon Mobil Corporation (NYSE:XOM) (“Exxon Mobil”) announced its fourth-quarter 2022 earnings results. At first glance, these results were very impressive, as the company managed to beat the expectations of its analysts

WTI 1-Yr. Chart

Business Insider

XOM Price Realizations Q4 2022

Exxon Mobil

2022 Earnings Highlights

Exxon Mobil

Crude Oil Prices 22-Yr.


XOM Production Chart

Exxon Mobil

NA Oil Production by Basin

U.S. Energy Information Administration


PEG Ratio

Exxon Mobil


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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. 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.

Additional disclosure: I am long various energy-focused funds that currently hold long positions in XOM, CVX, MRO, and APA. I exercise no control over these funds and their positions may change at any time.

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