NEW YORK (TheStreet) -- Exxon Mobil Corp. (XOM) - Get Report stock is rising 0.94% to $83 in pre-market trading on Friday after the company reported better than expected financial results for the 2015 third quarter.
The oil and gas company reported earnings of $1.01 per share on $67.34 billion in revenue for the latest quarter.
Analysts had estimated earnings of 89 cents per share on revenue of $63.75 billion.
"We maintain a relentless focus on business fundamentals, including cost management, regardless of commodity prices," CEO Rex Tillerson said in a statement. "Quarterly results reflect the continued strength of our downstream and chemical businesses and underscore the benefits of our integrated business model."
Earnings from the downstream segment nearly doubled year-over-year to $2 billion for the latest quarter.
Sales of petroleum products fell slightly to 5.79 million barrels per day, while oil and gas production increased 2.3% year-over-year to 3.9 million barrels of oil equivalent a day.
Separately, TheStreet Ratings team rates EXXON MOBIL CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
We rate EXXON MOBIL CORP (XOM) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its 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 a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.
You can view the full analysis from the report here: XOM