First Eagle Global Equity ETF on Exxon Mobil Corporation
Thesis
Exxon Mobil's shares fell with easing crude prices, but First Eagle continues to view the company as a high-quality operator. The fund highlights strong capital discipline and a durable asset portfolio. Improved production from Guyana and the Permian Basin helped the company deliver better-than-expected quarterly results despite Middle East disruptions. A commitment to returning cash to shareholders is also central to the thesis.
“We continue to view Exxon as a high-quality operator with strong capital discipline.”
Key risks
- Easing crude oil prices.
- Operational disruptions in the Middle East.