Evercore ISI Keeps Outperform Rating on ExxonMobil (XOM)

Exxon Mobil Corporation (NYSE:XOM) is one of the 10 Best Oil and Gas Stocks to Buy Now. On June 3, Evercore ISI analysts maintained an “Outperform” rating with a price target of $120 on Exxon Mobil Corporation (NYSE:XOM).

This decision comes after a lunch meeting in New York City with the company’s CEO, Darran Woods, where Exxon’s strategic advantages over its peers were discussed.

The analysts noted that Exxon Mobil Corporation (NYSE:XOM) has better chances for higher returns in its upstream business and has an efficient downstream scale. The company’s streamlined corporate cost structure and operating model were highlighted as key reasons that position the company well for better returns on capital.

Exxon Mobil Corporation’s (NYSE:XOM) efforts to reduce the effects of changing oil prices were highlighted. Over the past 9 years, especially under Wood’s leadership, the company has focused on cutting costs, successfully completed big projects, and investments based on a $35 per barrel assumption. These actions are expected to help Exxon Mobil Corporation (NYSE:XOM) perform better than its competitors.

Analysts also highlighted the company’s ability to manage hydrogen and carbon, which are used in all parts of the business, including low-carbon initiatives. This approach is seen as unique and coherent, making Exxon Mobil Corporation’s (NYSE:XOM) value proposition and business outlook more stable.

To conclude, the report states that XOM will continue to attract a larger share of energy investment flows, from both active and passive investors, and Exxon Mobil Corporation (NYSE:XOM) will remain a leader in the energy industry.

Exxon Mobil Corporation (NYSE:XOM) is an American oil and gas company that manages an industry-leading portfolio of resources. It is one of the world’s largest integrated fuels, lubricants, and chemical companies.

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