September Gameplan for Exxon Mobil (XOM)

The oil and gas industry’s juggernaut, Exxon Mobil Corporation (XOM – Get Rating), is trying to drive its operations toward greater sustainability. Although the company expects oil and gas to meet more than 50% of the world’s energy needs, it is investing $17 billion over a six-year span through 2027 in lower carbon emissions technologies.

For instance, XOM agreed to buy Denbury Inc. (DEN – Get Rating) for $4.9 billion to accelerate its energy transition business with a ready-made carbon dioxide (CO2) sequestration operation. However, the broad adoption of carbon sequestration is still uncertain because of technical challenges and high costs.

The company and its partners also revealed planned spending of $12.93 billion to develop their sixth offshore oil project in Guyana. The project does not include natural gas because any reduction in injected gas would potentially reduce oil recovery.

XOM sees China as a long-term growth market for Liquefied Natural Gas (LNG). While the company looks for potential downstream opportunities in China, its economic landscape continues to weigh on its LNG demand.

Given this backdrop, let’s look at the trends of XOM’s key financial metrics to understand why it could be wise to watch and wait for a better entry point in the stock.

Analyzing Exxon Mobil Corporation’s Financial Landscape: Trends and Shifts (2020 – 2023)

The data provided illustrates the significant fluctuations in XOM’s trailing-12-month net income over the period from September 2020 to June 2023.

  • The trend initiated in September 2020 demonstrated a net income of $3.32 billion.
  • A drastic decline was witnessed by…

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