XOM Stock: Lower Oil Prices Are Dragging Exxon Down

Exxon Mobil (NYSE:XOM) posted strong Q4 2023 earnings on Feb. 2, but shares still fell in pre-market trading. Revenue of $84.3 billion missed expectations by just 1%, and the company’s earnings per share of $2.48 outperformed predictions of $2.21 by 12%.Energy trading was particularly noteworthy. The Houston-based firm posted a $1.14 billion gain from its trading arm, offsetting a $410 million profit reduction from declining oil prices. This performance is noteworthy considering Exxon’s relatively cautious ...