Will Exxon (XOM) Stock Drop After Senators’ Criticism?
NEW YORK (TheStreet) -- Exxon Mobil (XOM) is under fire after aSenate resolution was introduced yesterday accusing the company of misleading the public.
The resolution, brought by 19 democratic senators, accuses fossil fuel companies of leading "misinformation campaigns" to deliberately mislead the public about climate change to "protect their financial interest."
The senators gave Exxon flack for creating a "web of denial" surrounding climate change issues.
Rep. Ted Lieu of California said in a statement that the company should be "condemned and investigated."
In an effort to distance itself from past statements refuting climate change research, Exxon recently announced its support of a carbon tax for the U.S.
Shares of the energy giant are nonetheless up 0.54% to $94.40 this morning as oil prices climb.
Separately, TheStreet Ratings rated this stock as a "hold" with a ratings score of C.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and solid stock price performance.
However, TheStreet Ratings also finds weaknesses including feeble growth in the company's earnings per share, poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: XOM
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.