Leading integrated oil and gas company Exxon Mobil Corporation (XOM) just released its first-quarter fiscal 2024 results. This article outlines why it might be prudent to exercise patience for a more opportune entry point in the stock.
Analysts expected falling natural gas prices and refining margins to impact XOM this quarter. The company's earnings stood at $8.22 billion, equivalent to $2.06 per share, slightly below the estimated earnings per share of $2.20. Nonetheless, reported revenue closely aligned with analyst expectations, totaling $78.35 billion.
