Summary
The third quarter 2018 results were good overall and beat Wall Street's expectations this quarter, unlike the preceding quarter which was a disappointment.
Exxon Mobil produced 3,786 K Boep/d this third quarter, down 2.4% year over year and up 3.8% sequentially. Liquids represented 2,286 K Bop/d or 60.4% of the total production.
I believe any stock weakness experienced recently should be considered as an excellent opportunity to accumulate this reliable company for the long term.
Image: Baytown Complex Courtesy of Houston Chronicle.
Investment Thesis
Exxon Mobil (XOM) is one of the best oil majors and should be among the oil stocks held in your long-term investment with a secure dividend over 4%. Furthermore, it is a US company which is not negligible. It is the bottom line despite temporary stock fluctuation due to a high degree of volatility in this sector.
The company has performed quite well compared to its peers since the beginning of 2018. The recent drop in oil price has affected the sector and beside Total (TOT), which is still 3.3% above its January stock price, the rest of the group is now down between 2% and almost 8%.
