The Fly

Could be time to sell Exxon Mobil, buy Shell, Barron’s says

It could be time to sell Exxon Mobil (XOM), given a disconnect between the stock and the oil markets, Andrew Bary writes in this week’s edition of Barron’s. Exxon doesn’t look expensive at 10 times projected 2023 profits of $11.50 a share. But there could be a risk to 2023 earnings if oil holds around current levels, the author says. Among the big oils, Shell (SHEL) looks like the best play, its stock having lagged behind Exxon’s by more than 50 percentage points this year, Bary writes. Reference Link

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