Investing Opportunities In This Dividend Paying Oil Stock: Exxon Mobil Corp (NYSE: XOM)
Exxon Mobil Corp. is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2020, it produced 2.3 million barrels of liquids and 8.5 billion cubic feet of natural gas per day. At the end of 2019, reserves were 15.2 billion barrels of oil equivalent, 58% of which were liquids. The company is the world’s largest refiner with a total global refining capacity of 4.8 million barrels of oil per day and one of the world’s largest manufacturers of commodity and specialty chemicals.
Highlights:
- IRVING, Texas – ExxonMobil, Aug 25th, 2021,announced its majority-owned affiliate, Imperial Oil Ltd., is moving forward with plans to produce renewable diesel at a new complex at its Strathcona refinery in Edmonton, Canada.
- construction is complete, the refinery is expected to produce approximately 20,000 barrels per day of renewable diesel, which could reduce emissions in the Canadian transportation sector by about 3 million metric tons per year.
- The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 per share on the Common Stock, payable on September 10, 2021, to shareholders of record of Common Stock at the close of business on August 13, 2021.
- Exxon Mobil Corporation announced estimated second-quarter 2021 earnings of $4.7 billion, or $1.10 per share assuming dilution, compared with a loss of $1.1 billion in the second quarter of 2020. Second-quarter capital and exploration expenditures were $3.8 billion, bringing the first half of 2021 to $6.9 billion, which is consistent with planned lower activity in the first half of the year. The company anticipates higher second-half planned spending on key projects, including Guyana, Brazil, Permian and in Chemical, with full-year spending towards the lower end of the guidance range of $16 billion to $19 billion.
Exxon Mobil Corporation has a consistent dividend history. Quick look at their dividend earning for last 5 years.
ExxonMobil dividends per common share
| 2021 | 2020 | 2019 | 2018 | 2017 | |
| 1st Quarter | $0.87 | $0.87 | $0.82 | $0.77 | $0.75 |
| 2nd Quarter | $0.87 | $0.87 | $0.87 | $0.82 | $0.77 |
| 3rd Quarter | $0.87 | $0.87 | $0.87 | $0.82 | $0.77 |
| 4th Quarter | $0.88 | $0.87 | $0.87 | $0.82 | $0.77 |
| Total | $3.49 | $3.48 | $3.43 | 3.23 | 3.06 |
Some Important Numbers To Look At
Last 1 Year Chart
Stock Recommendation: looking at the recover made by oil & gas sector this year and company’s increasing revenue, this can be a good investment opportunity in a long run, MarketFacts gives a “Buy” rating on the stock at the closing Price of $53.70 as of September 21st, 2021.
| CMP (USD) (21st September 2021) | $53.70 |
| Target Price (CAD) | $75.50 |
| Dividend Yield | 4.30% |
| Recommendation | Buy |
