Exxon Is Ramping Up Investment for the Future
Exxon reported a sharp drop in first-quarter earnings from the year before, but nothing in the results indicate its long-term growth plans are in jeopardy or its competitive position is eroding. In fact, the drop was largely a result of a combination of difficult market environment and one-time issues that made year-over-year comparisons look especially poor. As such, we are maintaining our fair value estimate and moat rating.First-quarter earnings fell sharply to $2.4 billion from $4.7 billion...
Exxon Mobil operates or markets products in United States and other countries through its divisions and affiliated companies. The company's business involves exploration for, and production of, crude oil and natural gas and manufacture, trade, transport and sale of crude oil, natural gas, petroleum products, petrochemicals and other products. In United States, the company's development activities are focused on the onshore United States, in the Permian Basin of West Texas and New Mexico and the Bakken oil play in North Dakota. Gas development activities are also focused on the Marcellus Shale of Pennsylvania and West Virginia, the Utica Shale of Ohio and the Haynesville Shale of East Texas and Louisiana.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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