Company Of The Day: Exxon Mobil

-0.33%
Downside
88.68
Market
88.39
Trefis
XOM: Exxon Mobil logo
XOM
Exxon Mobil

What?

Exxon Mobil (NYSE:XOM) posted a stronger than expected set of Q2 2021 results, with revenues more than doubling year-over-year to $67.7 billion, and net income standing at about $4.7 billion versus a loss of $1.1 billion in the year-earlier quarter.

Why?

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Although upstream production was impacted by an extent due to maintenance activity, Exxon benefited from higher average price realizations for crude oil.

So What?

Exxon stock declined by about 2% in Friday’s trading, as the company indicated that it would use its extra cash flows to pay off its debt rather than announcing stock buybacks, which investors were likely expecting.

See Our Complete Analysis For Exxon Mobil

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