Exxon Mobil: Cheap At An 11x Multiple, Bigger Buybacks Possible In 2H
XOMExxonMobil(XOM) Seeking Alpha·2024-06-17 01:39

JHVEPhoto WTI crude oil posted its best weekly performance in two months last week despite softer US inflation data, a strong US dollar, and a dismal performance from ex-US equities. While oil supply concerns remain apparent, both WTI and Brent have managed to hold the mid to high $70s per barrel. The same sort of price resilience is not seen in the relative strength of Energy sector stocks, however. Last Friday, the Energy Select Sector SPDR ETF (XLE) closed at its worst level versus the S&P 500 Trust ETF ...