Why Exxon Needs Another Mobil

Oppenheimer’s Fadel Gheit and Luis Amadeo argue that ExxonMobil (XOM) needs another large acquisition to “create long-term shareholder value”: Luke Sharrett/Bloomberg News Exxon maintained 2015 CAPEX guidance of $34B, but expects lower spending in 2016 and 2017 on increased capital efficiency. Exxon also halved its share buyback program and expects repurchases of $500M in 4Q15, flat […]