This Oil King Stock Will Soon Have Its Crown
It's been a rocky few years for integrated oil company ExxonMobil (NYSE: XOM), which has navigated volatile commodity prices. The company's picked up a lot of debt, resorting to borrowing to pay its dividend during tough times like 2020 when oil prices temporarily went below zero. But that's old news; ExxonMobil's having a great year and stacked profits in its third-quarter earnings.
ExxonMobil's dividend once appeared on the chopping block, but that's no longer the case. Don't feel like you've missed the boat; I'll break down ExxonMobil's colossal turnaround and explain why it can still be a part of a diversified long-term stock portfolio.
ExxonMobil has spent decades as one of the world's largest oil and gas companies, an industry titan that generates hundreds of billions in revenue each year. Commodity prices directly impact how profitable companies like ExxonMobil can explore, extract, and refine oil and gas.
Source Fool.com
