Exxon-Mobil
Exxon-Mobil stock prices has fallen but not due to any significant changes in the company fundamentals. Overall fear of the global economy, recent drops in crude prices, and hurricane damage to refineries has driven the stock price drop.
But I think fear of the global economy disruptions is being oversold, crude price drops just brings the prices in line with what it was a few months ago, and hurricane risk has been with Exxon-Mobil since forever.
I think it's a solid buy. Institutional investors only hold about 1/2 of it right now, and that's mostly because of what's happening to the financial institutions, not because of Exxon-Mobil. So that's very much a good thing.
But I think fear of the global economy disruptions is being oversold, crude price drops just brings the prices in line with what it was a few months ago, and hurricane risk has been with Exxon-Mobil since forever.
I think it's a solid buy. Institutional investors only hold about 1/2 of it right now, and that's mostly because of what's happening to the financial institutions, not because of Exxon-Mobil. So that's very much a good thing.
Labels: buy recommendation, energy
posted by Gary Carson at
11:07 AM
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