Exxon Mobil: Oil Everywhere Is A Problem

Summary:

  • Exxon Mobil Corporation reported a mixed Q4 with a trend downward due to slumping energy prices and excess production capacity.
  • The company reported a decline in revenues and plans to ramp up production, despite the risk of a supply glut.
  • The stock trades at 12x ’24 EPS targets and analysts forecast lower earnings and the risk is lower energy prices after a period of energy prices above the 10-year averages.

Three black oil barrels on a white background.

Jaromir Ondra

Following mixed Q4 earnings, Exxon Mobil Corporation (NYSE:XOM) continues to trend downward. The energy giant faces a sector where supply is plentiful, and energy prices are slumping. My investment thesis remains Bearish now with


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