Buy Exxon Mobil Corporation
About Exxon Mobil Corporation (XOM)
Exxon Mobil Corporation (XOM) is a global oil and natural gas producer which operates more than 23,000 wells with proven reserves of over 22 billion barrels. XOM is among the 10th-largest oil and gas companies by revenues and is the largest U.S.-based fossil fuel producer. The company traces its history to the formation of the Standard Oil Company of Ohio by John D. Rockefeller in 1870.
The past year has been challenging for the oil industry. Rising concerns over the role of carbon emissions in climate change have caused shareholders to reconsider buying fossil fuel producers. In December of 2020, New York’s state pension fund announced it would divest. The move by environmentally focused investors to sell their stakes has come at a particularly bad time for the company. Consensus analyst forecasts call for a per share loss of -$0.34 for fiscal 2020 after a decline in revenues of more than 30%.
After a decline of more than 50% during the market panic during the first quarter of 2020, XOM continued to pay a dividend of $3.48 per share. Keeping up these payments to shareholders has been difficult as low oil costs caused by Covid-19 demand disruptions and a supply glut weighed heavily on XOM’s cash flow in 2020.
Taking advantage of ultra-low interest rates and investor appetite for yield, the beleaguered oil company borrowed heavily: debt levels hit $69 billion by the end of 2020.
What is the price of XOM?
As of mid-January 2021, XOM shares traded at about $48 with a market capitalization of roughly $200 billion. The company’s shares are extremely liquid with an average trading volume of more than 30 million shares daily. 2020 saw the stock price of XOM tumble by 41% as the oil sector faced extreme selling pressure during the global pandemic.
Short-term trading levels for XOM typically exhibit a strong positive correlation to crude oil prices and this relationship can be strongest during periods of heightened market volatility.
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This article is for informational purposes only and takes no account of particular personal or market circumstances, and should not be relied upon as investment, tax, or legal advice. For investment, tax, or legal advice, and before taking any action you should consult your own advisors. Note that assets such as equities present unique risks for investors.
This content is correct as of February 2021
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