As an investment, Exxon Mobile’s current dividend yield is one of the strongest in the nation right now- and that is not just considering energy related companies. It joins the other four largest energy corporations (BP, Chevron, Shell, and Total) to post their highest first-quarter net income since 2014. They have migrated from being labelled as under performing to what is known as market perform – a desirable status for trading.
Most of Alaska’s contemporary oil resources are accessed by companies other than Exxon, and while the smiling lion logo stands out in many people’s minds, Exxon is best known in Alaska for its involvement in transporting US crude out of the state and down to refineries in the lower 48. Its name was in the middle of Alaskan headlines in 1989 Prince William Sound oil spill when one of its tankers spilled around 11 million gallons. (Currently it is in the headlines of news in Colorado as several counties sue Exxon -with Suncor- over climate change).
Yet transportation and drilling are not the sole, or even the main business of Exxon. In fact, they operate refineries, produce petroleum based additives and even work in the natural gas markets. Thus the increase of oil prices in general touch the revenues of each of Exxon’s products and services. With a diversified portfolio of products and services and upgrade in trading status Exxon will be one company to keep an eye on as crude prices continue to climb.