NEW YORK (TheStreet) -- Exxon Mobil (XOM) shares are up 1% to $95.13 in early market trading on Wednesday after CEO and Chairman Rex Tillerson said in an interview with CNBC that the oil company would be able to remain profitable even if oil fell as low as $40 a barrel.
Oil stocks have been hurt by oil prices which have fallen to five year lows in recent days, but Tillerson said that the company's expansive projects in the liquefied natural gas and deepwater drilling areas are long term investments designed to stand the test of fluctuating oil prices.
"It's important about watching your cash, watching your investment decisions, being very disciplined about everything, and then looking for opportunities that may present themselves in an environment like this," said Tillerson.
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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 attractive valuation levels, growth in earnings per share, increase in net income, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow."