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Mangeet Kaur Bouns

How Should You Trade Exxon Mobil Corp. (XOM) in July?

XOM Oil Exxon Mobil Corp IG Mangeet Kaur BounsMangeet crude oil China Exxon Mobil Corporation Goldman Sachs

Oil producer Exxon Mobil Corporation (XOM) reported fiscal 2023 first-quarter earnings, exceeding analyst forecasts. The earnings got a boost from solid oil and gas production growth. But crude oil prices have been dropping recently, pulling oil stocks, including XOM.

Given XOM’s mixed financials, elevated valuation, and bleak near-term outlook, it seems prudent to wait for a better entry point in this stock.

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