ExxonMobil's Profits Are About to Fall. Is the Oil Stock Still a Buy?

ExxonMobil (NYSE: XOM) recently gave investors a sneak peek into its upcoming third-quarter earnings report. The oil giant issued a muted outlook, expecting its profit to fall. The main culprit was oil prices, which slumped 17% in the period. While ExxonMobil expects to report lower profits in the third quarter, the oil company is likely to deliver peer-leading results again. That's one of the many factors that make it look like an attractive oil stock to buy these days. Exxon produced a prodigious profit in the second quarter. It delivered an industry-leading $9.2 billion of earnings. That was nearly double Chevron's total and more than triple the profits of big oil rivals BP and ConocoPhillips. Exxon benefited from its efforts to fundamentally improve its earnings power, which included closing its needle-moving acquisition of Pioneer Natural Resources. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool