XOM - Exxon Mobil Corporation

Ross mentions Exxon Mobil as one of the big oil companies sitting on massive cash, on pace for $40B+ in free cash flow. Already acquired Pioneer. Discussed as context for the broader acquisition trend in big oil, not as a direct recommendation.

Exxon's hedge contracts that locked in lower oil prices are rolling off in Q2, meaning earnings will reflect current oil prices in the high $120s. Consensus estimates project Q2 earnings to roughly double year-over-year. The negative headline earnings are a temporary artifact of hedging losses, not a reflection of the underlying business strength in the current oil price environment.

Exxon has the best balance sheet in the energy industry with $30B cash, double-A credit rating, debt-to-equity under 5%. Its Permian Basin and Guyana operations produce at very low break-even costs ($35/barrel), meaning it massively profits at $126 oil. Q2 earnings expected to double YoY after hedge losses roll off.

Mentioned as an example of an oil producer with real reserves, but speaker ultimately passes because oil companies historically crash during recessions

Soloway previously shorted Exxon Mobil as part of his oil bearish thesis and expects continued downside in oil-related names.

Top stock in energy sector showing same breakout pattern as XLE; went from 120 to 180 (46% in 30 days); Ross uses it as a model example of the consolidation-to-breakout pattern with tight 5% risk

In the extremely expensive category.

Energy is described as a 'very nice defensive anchor' with massive cash flows, essential product, pricing power, and dividend yield.

Trade still intact; oil prices won't return to pre-crisis levels, and the stock was already moving toward profit target before the war.

Mentioned by community as a stock they'd be upset to miss if the market rallies. Oil spike context makes Exxon relevant.