Is Exxon Regaining Its ‘Oily’ Mojo?

Exxon Mobil (XOM) has been a pretty sad story for the past few years. As one of the largest integrated energy stocks out there, XOM has had trouble keeping up with production — especially in terms of “Texas tea.” During the past few years, Exxon Mobil has seen overall production dwindle as various legacy fields have dried up. That has been a big issue amid rising oil prices; namely, Exxon Mobil has missed out on some pretty sizable profit potential. Meanwhile, XOM stock has floundered and underperformed many of the smaller independent shale producers, such as EOG Resources (EOG).

However, one of the United States’ biggest energy stocks might finally have regained its oily mojo. The percentage of Exxon’s reserves that are liquids-based has surged recently, and the producer has several new oil-based production projects set to hit the tape this year. That could be turning XOM stock into a buy … as soon as this year.

Source: InvestorPlace

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