Is Exxon Mobil Corp. overvalued or undervalued?

As of 2 August 2024, Exxon Mobil Corp. has moved from an expensive to a fair valuation grade. The company is currently fairly valued, with a P/E ratio of 25, an EV to EBIT of 22.67, and an EV to EBITDA of 14.02. In comparison to its peers, Chevron Corp. is considered very expensive with a P/E of 21.38 and an EV to EBITDA of 10.32, while Hess Corp. also falls into the very expensive category with a P/E of 16.44 and an EV to EBITDA of 7.71.
Despite a recent decline in stock price, Exxon Mobil has shown resilience with a year-to-date return of 3.88%, outperforming the S&P 500's 2.44% during the same period. Overall, the valuation metrics suggest that Exxon Mobil is fairly positioned within its industry, especially when compared to its peers.