Before Thursday’s opening bell, Exxon (XOM) released its first quarter financial results. Here’s what the results mean for mutual fund investors.
Inside XOM's Results
The company reported earnings of $4.94 billion, or $1.17 per share, down from $9.10 billion or $2.10 per share, last year. On average, analysts expected to see earnings of 83 cents per share.
Revenue came in at $67.618 billion from $106.325 billion last year. Analysts expected to see revenue of $56.39 billion.
The oil and gas giant reported a sharp decline in profits for the first quarter due to lower oil prices, but flew past analysts’ expectations. Exxon reported that it has cut capital spending and is divesting from less profitable operations.
Mutual Funds to Watch
Investors interested in Exxon may also consider a mutual fund as an alternative to owning the individual stock. The funds below currently hold the largest stakes in XOM.
|VTSMX||Vanguard Total Stock Market Index||1.69%|
|VFINX||Vanguard 500 Index||1.08%|
|FUSEX||Fidelity Spartan 500 Index||0.46%|
The Bottom Line
The funds above are a great way for investors to gain exposure to a diverse bundle of securities and industries. Investors interested in XOM may also be interested in Chevron (CVX) or BP (BP).