Exxon Mobil Corporation ( XOM ) shares are trading lower after the company signaled weak oil and gas prices to impact first-quarter FY24 results.

The company anticipates that fluctuations in gas prices will negatively influence its first-quarter upstream results by between $(0.6) billion and $(0.2) billion. 

Conversely, changes in liquid prices are expected to have a negative impact on upstream results of $(0.4) billion to flat.

On the other hand, Exxon Mobil ( XOM ) projects that variations in industry margins will positively impact energy products earnings by $0.5 billion-$0.7 billion and both specialty products earnings and chemical products earnings by flat to $0.2 billion each.

Also Read: Exxon Mobil Sounds The Alarm: Reportedly Warns On Sharp Drop In Australia’s Gas Supply

Exxon Mobil ( XOM ) expects changes in unsettled derivatives (mark-to-market) to impact first-quarter upstream earnings by negative $(0.2) billion to positive $0.2 billion.

Last month, Exxon Mobil ( XOM ) reportedly accelerated LNG portfolio expansion, aiming to double capacity to 40 mtpa by 2030.

Investors can gain exposure to the stock via SPDR Select Sector Fund – Energy Select Sector and IShares U.S. Energy ETF .

Also Read: Exxon’s Q4 Surprise: Beats Earnings Expectations Despite Revenue Dip, Embarks On Bold EV And LNG Ventures

Price Action: XOM shares are down 0.32% at $118.92 premarket on the last check Thursday.