Exxon Mobil Stock Should Go Higher

Summary:

  • I recommended doubling down on XOM at the end of January 2024, and my last call proved to be very successful. But what’s next for Exxon?
  • The oil price is likely to be supported by a shortage of commodities on the physical market as 2024 is going like one of the worst years for oil inventories.
  • The demand in developed markets continues to grow, which is especially noticeable in the US, according to EIA.
  • I believe Exxon Mobil’s continued focus on operational efficiency and synergies will gradually boost its profitability and margins, which should lead to a higher stock price.
  • I’ve decided to reaffirm my “Buy” rating today.

Exxon Mobil Headquater in Kuala Lumpur, Malaysia

zodebala

Intro & Thesis

I first initiated coverage of Exxon Mobil Corporation (NYSE:XOM) stock at the end of December 2022. Unfortunately, I had no luck with timing at that time. However, when the stock started to turn around, I wrote


Analyst’s Disclosure: I/we have a beneficial long position in the shares of XOM 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.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.


Hold On! Can’t find the equity research you’ve been looking for?

Now you can get access to the latest and highest-quality analysis of recent Wall Street buying and selling ideas with just one subscription to Beyond the Wall Investing! There is a free trial and a special discount of 10% for you. Join us today!

Leave a Reply

Your email address will not be published. Required fields are marked *