NEW YORK (TheStreet) -- Shares of Exxon Mobil (XOM) closed up 0.53% to $97.12 after the oil and natural gas company announced the winding down of its $700 million exploration well in Russia's Kara Sea, the first sign Western sanctions are interfering with its plans to explore for oil and gas in the Arctic Ocean, The New York Times reports.
The suspension came about just days after sanctions by Washington and the European Union that ordered the company to cut off help to Russian oil exploration the Arctic, as well as in deep water and shale fields.
Separately, TheStreet Ratings team rates EXXON MOBIL CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate EXXON MOBIL CORP (XOM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, increase in net income and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: