The profits of oil companies soared last year as high demand and supply constraints arising out of the war between Ukraine and Russia pushed oil and gas prices higher. Exxon Mobil Corporation (XOM) was no different, as soaring energy prices helped it post record quarterly profits during the third quarter of last year.
As the company prepares to publish its third-quarter results for fiscal 2023, I have discussed why it could be wise to wait for a better entry point in the stock.
