Still Like XOM Post-Earnings

Earlier today, Exxon-Mobil (XOM) reported a pretty much in line quarter, with EPS of $2.48 vs. $3.40. Earnings were lower for production, chemicals and refining. Production was flat on an oil equivalent basis.

For all of 2023, XOM earned $9.52 a share versus $10.46 in 2022.

Although the stock has not been the quick win I desire in our Value Trades Portfolio, I do continue to like XOM here. The stock is very cheap, and I believe oil prices will start to stabilize, especially if global manufacturing economies start to improve, and China continues efforts to boost its economy.

The stock currently has good support at $100 a share. As long as this holds, I want to continue giving XOM a chance to move higher. Buy the stock under $104 as I target $112.