Reasons to Retain ExxonMobil (XOM) in Your Portfolio Now

Published on 31 May 2024 on Zacks via Yahoo Finance

Reasons to Retain ExxonMobil (XOM) in Your Portfolio Now

Over the past seven days,Exxon Mobil Corporation XOM has witnessed no earnings estimate revisions for 2024 and 2025. This leading integrated energy player has a Zacks Rank #3 (Hold) at present.

What's Favoring the Stock?

The West Texas Intermediate crude is currently trading at more than the $75-per-barrel mark. The favorable trajectory in oil prices is a boon for ExxonMobil’s upstream operations. In the Permian Basin – the most prolific oil and gas resource in the United States – and offshore Guyana, ExxonMobil has a solid pipeline of profitable projects.

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Reasons to Retain ExxonMobil (XOM) in Your Portfolio Now

NYSE.XOM price evolution

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