Exxon Mobil: Merger With Pioneer And Expected Rising Oil Prices (Rating Upgrade)

Joe Raedle Investment thesis We have covered the stock before, and since last quarter several things have changed, most importantly: Exxon Mobil Corporation and Pioneer Natural Resources jointly announced a definitive agreement under which Exxon Mobil will acquire Pioneer; We have lowered our forecast for Brent crude oil prices and provide an updated view of the oil market balance through Q3 2024. The acquisition of Pioneer Natural Resources is expected to increase Exxon Mobil's oil and gas sales on the ...