Will Exxon (XOM) Stock Rise on Venture with Qatar Petroleum?

Exxon (XOM) is reportedly working with Qatar Petroleum to look for energy assets in Mozambique.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Exxon Mobil (XOM) - Get Report  are up 0.05% to $93.07 today as the company reportedly begins a venture with state-owned Qatar Petroleum to search for energy assets in Mozambique.

The companies are looking to buy stakes in gas fields owned by Anadarko Petroleum (APC) and other entities, Bloomberg reports. The deals have not yet been completed.

Exxon and Qatar Petroleum have already partnered together for 15 years in various ventures.

The potential deal would grow Exxon's presence in Mozambique, as the company won three offshore exploration licenses in October of 2015 in blocks just south of Anadarko's fields.

Additionally, crude oil (WTI) is up 0.21% to $46.70 per barrel today and Brent crude is down 0.06% to $47.93 per barrel.

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

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.

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