2024-06-18 09:00:00 ET
Summary
- Exxon Mobil is retracing below the $110 level, down -11.83%, now yielding 3.48%.
- Bullish on energy and utilities, XOM returning capital to shareholders, potential for capital appreciation and income generation.
- XOM is well-positioned for future growth, strong financials, attractive valuation, and potential for dividend and buyback growth.
Exxon Mobil Corporation (XOM), which is the largest component of The Energy Select Sector SPDR Fund ETF (XLE), making up 26.18% of the fund , is looking attractive again after retracing below the $110 level. Shares of XOM have been in a downtrend since April, as they have declined by -11.83%. Shares of XOM are now yielding 3.48%, and there is no confirmation that the sell-off has concluded as a bottom, which hasn't been established yet. The last time shares of XOM got caught in a downward trend, shares dipped below $100 before rebounding by more than 25%. I am bullish on energy and utilities going forward as we're not likely to displace oil and gas anytime soon as the demand for energy continues to grow....
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Exxon Mobil Is Looking Attractive Again, Yielding 3.48%