2024-06-25 13:17:18 ET
Summary
- Exxon Mobil Corporation completes largest shale patch merger with Pioneer Natural Resources.
- Analysts have mixed opinions on Exxon's future performance post-merger.
- Exxon's relentless commitment to cost control and potential for long-term growth make it a solid investment opportunity.
- We rate Exxon as a strong buy at current levels.
Introduction
The ink is now drying on the biggest shale patch merger of all time. In case memory escapes you, I am referring to Exxon Mobil Corporation's ( XOM ) purchase of Pioneer Natural Resources- formerly PXD . As of May 3rd, 2024, the two oil giants are now one shale colossus. We were supportive of the merger in the context of what we see developing in shale's future, and discussed why in a public article last fall. Our updated shale thesis was in another public article if you would like more depth on this topic.
XOM price chart (Seeking Alpha)
We remain bullish on XOM, and think that the value obtained in the merger is not yet reflected in the stock, making the current level a solid entry point or basis for adding....
Read the full article on Seeking Alpha
For further details see:
Exxon Mobil: The Permian Printing Press