XOM is tipping the scales at ~$800bn, well over 15x larger than Woodside. The company continues to kick goals, with both revenue and earnings beating expectations this month for their 3rd quarter i.e. scale matters:
- Revenue of $US88.5bn was a ~2% beat, while EPS came in +2.1% ahead of analyst expectations.
The producer’s stock paints a very different picture than, say, WDS, but even under a Trump administration, the risk/reward ratio for the stock looks heavy above $US120.
- We like the risk/reward toward XOM if we see another pullback towards $US100; it’s already done so twice in the last 2-years.
MM is neutral XOM in the $US115-120 region
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