NEW YORK (TheStreet) -- Exxon Mobil (XOM) shares are down 2.18% to $87.26 in trading on Friday as oil stocks across the board have suffered due to falling oil prices. Crude oil, which is down 12% this week, closed trading today down 3.6% to $57.81.
The International Energy Agency reduced its outlook for global oil consumption today, the fourth time since August it has reduced its consumption outlook, and now sees 2015 demand dropping by 230,000 barrels per day to 93.3 million barrels.
"While demand growth is still expected to gain momentum in 2015 from 2014, the acceleration is now looking more modest than previously foreseen, in line with the ever-more tentative pace of the global economic recovery," the agency said.
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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, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."