Exxon Mobil Corp (XOM), which released its earnings on Friday, April 28, pleased analysts by producing better-than-expected earnings numbers. This is making XOM stock popular with value investors, as it rose to $118.34, the highest point this year. It is especially attractive to investors who have been shorting out-of-the-money (OTM) puts to create extra income.
For example, non-GAAP adjusted earnings per share (EPS) for the quarter was $2.83, much higher than analysts' forecasts of $2.60 per share, according to Seeking Alpha. However, revenue came in slightly lower than last year.
