Seeking Alpha Seeking Alpha Portfolio App for iPad  Despite
experiencing a volume decline of 5.6%, Exxon Mobil (XOM)'s
continued investments in new projects are likely to bring growth
in the company's volumes. Based on the following facts, we have
a bullish stance on the stock:    1. The stock is trading at a
current P/E of 9.7x, which is at a discount when compared to its
last five years average P/E of 11.4x.   2. The restructuring of
its downstream and chemical operations bodes well for its future
prospects. According to the estimate of 21 analysts, its
earnings will grow by 8% by the end of 2013.   3. The company
has spent $7.7 billion in the share repurchase program and
dividend payments to its shareholder.   4. One of XOM's mega
projects, Kearl, is expected to be operational by the end of
2012. Moreover, 21 oil and gas projects are in the pipeline,
which will enhance the company's capacity to 1 million barrels
of oil equivalent per day by 2016.   5. Due to the increasing
uncertainty in the U.S. oil and g