Summary
The big oil stocks are getting crushed with the volatility in the markets currently. ExxonMobil is also feeling the pain.
We think this is overdone, and the strong fundamentals of this company will propel it higher.
We could be close to taking a position.
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Many of our top integrated oil companies are selling off currently, after strong runs to the upside in the third quarter. In my view there is no fundamental business reason for this decline in their stocks, and judicious investors should be looking for entry points. ExxonMobil is no exception. In the month of October, this company has sold off nearly 8%, going into an earnings season that should be materially better than the one before it.
