Has ExxonMobil Stock Become A Different Bet?

At 22.2 times earnings, ExxonMobil (XOM) stock trades near the S&P 500's 22.5. Shareholders paying that multiple need a clear view of the underlying assets, and the priorities inside the company have shifted. During the fiscal Q3 2024 call, executives promoted Pioneer Natural Resources, a producer ExxonMobil now owns outright. Management no longer emphasizes that deal. So what does management talk up instead.