TTFNF - Exxon Mobil: Positioned For Strong Growth And Current Buying Opportunity

2024-04-28 06:15:05 ET

Summary

• Exxon Mobil's Q1 2024 earnings results were mixed, beating revenue expectations but missing earnings expectations.
• The market reacted negatively, causing the stock to tumble 2.78%.
• Despite the disappointing results, there were positive highlights, including good results from the Payara project in Guyana.
• Exxon Mobil is positioned to potentially at least double its upstream profits by 2027, although rising energy prices will probably boost that further.
• XOM stock is remarkably cheap relative to the rest of the market, so it appears that we have a good buying opportunity.

On Friday, April 26, 2024, oil and gas supermajor Exxon Mobil Corporation ( XOM ) announced its first quarter 2024 earnings results . At first glance, these results were somewhat mixed. The company did manage to beat the expectations of its analysts in terms of revenue, but unfortunately, it missed their earnings expectations. For its part, the market was not impressed with these results at all, as it sent the stock tumbling in the pre-market trading session that followed the release of these results:

The stock closed down 2.78% on the day, which is a very disappointing result for any investment, and it is certainly not something that will give investors much confidence about a company going forward....

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