Up 48% in 12 Months, Is ExxonMobil Stock Really a Buy?
Over the past year, ExxonMobil's (NYSE: XOM) stock has rocketed higher by 48%, outdistancing all of its closest peers and the broader market, with the S&P 500 index falling around 7% over that span. Driving that stock performance strength has been a very strong business. It's also why investors need to step back and question whether or not the impressive stock gains can keep going.
In 2022, energy giant ExxonMobil reported adjusted earnings per share of $14.06, up from $5.38 in the previous year. That's an impressive comparison, backed by sizable production growth in key regions (up over 30% in Guyana and in the Permian basin), strong refining results ("best-ever annual refining throughput in North America"), and even some solid advances on the environmental front ("Permian assets achieved zero routine flaring"). Just about any way you cut it, ExxonMobil had a year to be proud of.
Image source: Getty Images.
Source Fool.com
