Investors See the False Dawn of Exxon Mobil

Exxon Mobil (NYSE:XOM) CEO Darren Woods knows he's in a dying business, even as profits continue to rise. All new cars will be electric by 2040, he...

July 7, 2022
2:00 AM

Exxon Mobil (NYSE:XOM) CEO Darren Woods knows he's in a dying business, even as profits continue to rise. All new cars will be electric by 2040, he said in a recent interview. But managing the transition will be costly without new investment. For example, Exxon Mobil stock opened June 29 at $92/share, up 49% in 2022, despite a 13.4% drop since just June 8, when it hit an all-time high. The result was a market cap of $386 billion, a price to earnings multiple of 15, and a dividend yield of 4.1%. It was trading around $83 on July 6.

Louis Navellier