Exxon Mobil (XOM  ) is feeling the pinch after Goldman Sachs (GS  ) hit the company with a "Sell" rating, showing little confidence in the energy giant as the company posts yet another weak quarterly report.

Exxon was downgraded to sell by Goldman Sachs as a result of the company's downside risks. The sell label wasn't all that Goldman Sachs had for Exxon either, analyst Neil Mehta lowered his price target for the company to $59. The downgrade, coupled with Exxon's dour fourth-quarter report, have dragged Exxon stock to a decade low not seen since 2010.

The catalyst for the lowered expectations was primarily Exxon's continuously disappointing financial performance. Exxon's dismal Q4 report told a story of continuing financial struggles. At Q3, the company reported a substantial drop in earnings and overall revenue, and its stock price tumbled as a result. Based on its Q4 report, Exxon has not recovered, and the company's financial troubles only seem to be intensifying. At Q3, Exxon, like many energy companies, struggled with a glut in oil supply due to the U.S-China Trade War, and an overall drop in global demand. An ineffective "phase one" trade deal, coupled with an increasing strain on the energy industry as a result of Coronavirus fears, has only made matters worse for Exxon.

Overall, the energy market has been very unforgiving as of late, and Exxon's performance, while shocking, is not entirely surprising. The global glut in supply has kept oil prices unfavorably low, leaving many companies feeling the pinch, and current factors are likely only to keep the trend of low prices going. The struggle was evident in the performance of energy benchmarks such as the West Texas Intermediate, which closed 4.9% down at the end of the week. Natural gas prices are also down, ending the week at 2.7% down.

Given the volatile market, which shows no indications of easing anytime soon, it's unsurprising that energy companies have been the worst-performing components of the S&P 500. Chevron (CVX  ) has posted a similarly dismal quarterly report, though the company fared better than Exxon in many regards. Royal Dutch Shell (RDS.A  ) posted similarly mixed results.