Exxonmobil The Best Oil Stock

last updated on

Exxonmobil The Best Oil Stock

Exxonmobil Remains The Best Oil Stock

The stock price of ExxonMobil and even the firm's performance have made it clear that it is the best oil stock. Looking ahead, the company is in a strong position to continue delivering great results.

So, for those who are looking for a solid oil stock to buy and hold, ExxonMobil can be a good choice. During Q2, ExxonMobil had a cash flow of $11.5 billion.

Exxonmobil Plan To 2030

Such a huge cash flow puts ExxonMobil in a much better position than all the other IOCs. To put things into perspective, Chevron's earnings were only half of ExxonMobil's.

The data also shows that the output of ExxonMobil has increased by 13%. This was mainly due to their acquisition of the famous 'Pioneer Natural Resources'.

In addition, ExxonMobil is also working on its cost savings program, and that program is not showing results. Just this year alone, ExxonMobil has managed to save $1.4 billion.

Since the year 2019, ExxonMobil has saved a total of $13.5 billion, which is no small number. In fact, this number is higher than what we will get by combining all the other IOCs.

ExxonMobil also has a plan for the year where it will invest around $140 billion by 2030. Most of this money will go into the Permian Basin development and other major projects. And by the 2030 end, the firm plans to save around $18 billion in the form of structural costs.

On the one hand, ExxonMobil is going heavy into investments. On the other hand, it is also saving costs through its various programs.

Looking ahead, ExxonMobil is highly likely to maintain its leadership position. In addition, it also plans to improve the cash flow and earnings during the next few years.

Overall, ExxonMobil is managing the ideal combination of cash flow, growth, and savings. So, while the world is trying to move away from fossil fuels, firms like ExxonMobil are still delivering great performance.

Trending Stories