From Nasdaq: 2024-11-15 14:37:00

Exxon Mobil Corporation (XOM) plans to lay off 397 Pioneer Natural Resources employees after acquiring the company for $63 billion in May 2024. The layoffs will mostly affect Texas employees, with job cuts expected until May 2026. XOM’s Zacks Rank is currently at #3 (Hold). Some better-ranked energy stocks include Smart Sand (SND), FuelCell Energy (FCEL), and Nine Energy Service (NINE).

Smart Sand is a low-cost producer of high-quality frac sand, FuelCell Energy offers low-carbon energy solutions, and Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The solar industry is poised to grow significantly, with solar expected to account for 80% of renewable energy expansion. Analysts predict a trillions-dollar investment in clean energy, creating an opportunity for investors to profit.

For more in-depth stock analysis, you can access free stock analysis reports on Exxon Mobil Corporation (XOM), FuelCell Energy, Inc. (FCEL), Smart Sand (SND), and Nine Energy Service, Inc. (NINE) on Zacks.com. The views and opinions expressed in the article are those of the author and not necessarily reflective of Nasdaq, Inc.



Read more at Nasdaq: XOM Announces Workforce Restructuring Plans Post Pioneer Merger