NEW YORK (TheStreet) -- Shares of Exxon Mobil (XOM) - Get Report were lower in mid-afternoon trade on Tuesday as the company looks to divest its refinery in Billings, MT, according to sources cited by Reuters.
The refinery is one of the Irving, TX-based energy company's only operations that is not integrated with a chemical unit.
The plant processes oil into products like gasoline and diesel, and has an average output of about 60,000 barrels per day.
At least one potential buyer has already visited the location and it could sell for up to $700 million, sources told Reuters.
Although Exxon has not commented on the speculation, the company saud that it "regularly evaluates its global portfolio" for growth opportunities and "remains committed to conducting business in Montana," Reuters reports.
Additionally, oil prices were lower this afternoon on a stronger U.S. dollar.
Crude oil (WTI) was down 1.26% to $46.39 per barrel while Brent crude was sliding 1.66% to $48.44 per barrel.
Separately, 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.
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 solid stock price performance, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, weak operating cash flow and poor profit margins.
You can view the full analysis from the report here: XOM