Street View: Exxon may need time to achieve operational and financial gains – 11/04/2024 at 3:55 p.m.

((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))

November 4 –

** Exxon Mobil XOM.N on Friday topped Wall Street’s third-quarter profit estimate, boosted by strong oil production in its first full quarter that included volumes from U.S. shale producer Pioneer Natural Resources

**The company is rated “buy” on average; median PT is “130” – LSEG data

MORE TIME NEEDED FOR GROWTH

** RBC (“sector perform”, PT: $120) says “we certainly see room for capital spending to increase in the medium term as XOM continues to grow upstream, downstream and on the low carbon front over the next few years”

**The broker, however, is concerned about weak global demand for refined products, and a modest outlook could negatively impact earnings through 2025

**Morgan Stanley (“overweight”, PT: $140) expects earnings to outperform peers and cash flow growth across its business segments to continue to support relative outperformance

**Truist Securities (“hold”, PT: $117) states that although available cash flow that is below the average of its peers

** Barclays (“overweight”, PT: $137) says XOM’s significant progress in the Permian, driven by synergies with Pioneer, is expected to reduce expenses and increase free cash flow, helping to meet its production targets. by the end of 2027