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Barchart
Barchart
Mark R. Hake, CFA

Exxon Stock Is at a Trough and Is Cheap Here Given Its Massive Free Cash Flow

XOM Exxon Barchart Pioneer

ExxonMobil Corp (XOM) stock ended 2023 just below $100 at $99.98 per share. But XOM looks cheap here with a forward P/E of 10.9x and a 3.80% dividend yield. Moreover, with $40 billion in free cash flow (FCF), XOM stock is worth considerably more than its present valuation.

The stock is near a trough now, having fallen from almost $120 per share at the end of Sept. Ever since the company announced on Oct. 11 its merger bid for Pioneer Natural Resources (PXD) and lots Q3 earnings on Oct. 27, XOM stock has been on a slide.

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