PSX - ExxonMobil Is a Rock-Solid Dividend Stock but So Is This Dirt Cheap Value Stock That Paid $1.8 Billion in Dividends Over the Past Year
2024-07-21 08:45:00 ET
In addition to being the most valuable U.S.-based energy company, ExxonMobil is a consistent dividend payer, with over 42 consecutive years of raising its payout . With a diversified business model and enough cash flow to invest in organic growth, acquisitions, and the energy transition, Exxon and its 3.3% yield are a compelling offering.
However, midstream, refining, chemical, and marketing company Phillips 66 (NYSE: PSX) also stands out as a good buy now. The company doesn't operate an exploration and production segment, making it significantly different from a major like Exxon or well-known upstream companies like ConocoPhillips or Occidental Petroleum .
Here's why Philips 66 is a reliable dividend stock worth considering, especially for investors with enough exposure to exploration and production companies and who want to diversify their oil and gas holdings.
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ExxonMobil Is a Rock-Solid Dividend Stock, but So Is This Dirt Cheap Value Stock That Paid $1.8 Billion in Dividends Over the Past Year