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Exxon (NYSE:XOM) Stock Overview – All You Need to Know About Exxon Mobil Corp

TABLE OF CONTENTS

Exxon (NYSE:XOM) Stock Overview – All You Need to Know About Exxon Mobil Corp

Exxon (NYSE:XOM) Stock Overview – All You Need to Know About Exxon Mobil Corp

Vantage Updated Updated Fri, 2023 May 19 07:32

About Exxon Mobil Corp

History of the company [1]

Exxon Mobil Corporation, an American multinational oil and gas corporation, has a long and storied history that dates back to the late 19th century. It is the result of the 1999 merger of Exxon and Mobil, two of the world’s largest oil companies, but its origins can be traced back even further to the establishment of the Standard Oil Company in 1870.

John D. Rockefeller and Henry Flagler founded the Standard Oil Company in 1870 in Ohio, with the goal of creating an efficient and integrated oil production and distribution system. The company quickly rose to dominance, gaining control of nearly 90% of the U.S. oil refining industry. However, this concentration of power attracted significant scrutiny, and in 1911, the U.S. Supreme Court ruled that Standard Oil was in violation of antitrust laws, ordering its breakup into 34 separate entities.

Two of the major companies resulting from this breakup were Standard Oil of New Jersey and Standard Oil of New York, which would later become Exxon and Mobil, respectively. Over the decades that followed, these companies expanded their operations both domestically and internationally, with a particular focus on exploration and production of crude oil, natural gas, and petroleum products.

In 1931, Standard Oil of New Jersey (Jersey Standard) acquired a majority stake in Humble Oil, which was one of the largest oil-producing companies in Texas. This acquisition significantly bolstered the company’s presence in the United States. In 1959, Jersey Standard adopted the name “Esso,” an acronym for Eastern States Standard Oil, as its primary brand in the United States. In 1972, the company officially changed its name to Exxon Corporation.

Meanwhile, Standard Oil of New York (Socony) merged with Vacuum Oil Company in 1931, which led to the creation of Socony-Vacuum Corporation. The company expanded its operations, and in 1955, Socony-Vacuum changed its name to Socony Mobil Oil Company. By 1966, the company had shortened its name to Mobil Oil Corporation.

Throughout the 20th century, both Exxon and Mobil continued to grow and expand their operations. They became involved in the development of innovative technologies and products, such as synthetic lubricants and high-octane gasoline. Additionally, they played a crucial role in the discovery and exploitation of major oil fields in Alaska, the North Sea, and the Middle East.

In 1999, Exxon Corporation and Mobil Oil Corporation merged to form Exxon Mobil Corporation, creating the world’s largest publicly traded oil and gas company. The merger allowed the new company to optimise operations and capitalise on economies of scale, enhancing its ability to compete in an increasingly globalised market.

Since the merger, Exxon Mobil has continued to be a major player in the oil and gas industry, primarily involved in exploration, production, refining, and marketing. The company has also made significant investments in research and development, focusing on alternative energy sources and technologies to reduce greenhouse gas emissions. 

Business segments [2]

Despite facing numerous challenges, such as fluctuating oil prices and environmental concerns, Exxon Mobil remains one of the most influential companies in the global energy landscape today.

Its main business segments are

  • Energy supply – mining, refining and distribution of oil and gas supplies 
  • Petrochemical products – lightweight plastics, plastic films, lubricants for machinery, etc
  • Industrial solutions – energy and chemical resources to power industry, businesses and manufacturing

The company is headquartered in Irving, Texas, United States, and currently employs around 62,000 workers [3].

About the stock XOM

XOM trading information

  • Primary exchange: NYSE
  • Ticker: XOM
  • Country: U.S. 
  • Currency: USD
  • Trading hours:
    • Main: 9.30am to 4pm ET, Mon to Fri
    • Pre-market: 4am to 9.30am
    • After-market: 4pm to 8pm 

When was XOM listed? 

Exxon Mobil (then, known as Jersey Standard) was publicly listed in 1920 [4]

At the time of writing, the share price of XOM is USD 108.68. The stock’s highest price was seen on 28 Apr 2023, when it closed the day at USD 113.34 [5].

Stock splits

XOM has undergone a series of seven stock splits since 1951, under different company names [6]. The total number of XOM shares outstanding is estimated to be 4.102 billion [7].

DateStock SplitCompany name at time of split
Jun 20012 for 1ExxonMobil
Mar 19972 for 1Exxon
Aug 19872 for 1Exxon
May 19812 for 2Exxon
Jul 19762 for 1Exxon
Feb 19563 for 1Standard Oil
Jun 19512 for 1Standard Oil

Dividends [8]

XOM is a dividend-paying stock, and dividends are paid out every quarter. In 2022, the company paid out USD 3.55 per share over four quarters.

Furthermore, ExxonMobil’s dividend payments to shareholders have grown at an average annual rate of 5.9% over the last 40 years.

Latest developments investors should note 

ExxonMobil delivers record first quarter earnings for FY 2023 [9]

ExxonMobil announced Q1 earnings of US$11.4 billion for fiscal year 2023 – a USD 5.95 billion rise compared to the same period last year. This placed diluted earnings per share (EPS) at a healthy USD 2.79 vs EPS of USD 1.28 seen in Q1 2023.

The record result was driven by structural earnings improvements through growth of advantaged assets, mix improvements, and cost and execution efficiencies. With this, the company remains on track to deliver USD 9 billion of structural cost savings by the end of 2023 relative to 2019, having achieved cumulative structural cost savings of UD 7.2 billion to date.

In other highlights for the quarter, cash flow from operations totalled USD 16.3 billion, and free cash flow came in at USD 11.4 billion. The company’s debt-to-capital ratio remained at 17% and the net-debt-to-capital ratio declined to about 4%, reflecting a period-end cash balance of USD 32.7 billion.

Shareholder distributions for Q1 2023 was set at USD 8.1 billion, including USD 4.3 billion of share repurchases, keeping the company on track to repurchase up to USD 17.5 billion during the year.

ExxonMobil declared a second-quarter dividend of USD 0.91 per share, payable on June 9, 2023. It added that as of year-end 2022, the company had reduced greenhouse gas emissions intensity of its operated assets by more than 10% and methane intensity by more than 50% relative to a 2016 baseline.

Trade XOM with Vantage 

Vantage offers convenient and secure trading of XOM and other leading stocks. With share Contracts for Difference (CFDs), traders can access trading opportunities on price movements in all directions, without having to own the underlying asset.

Trade XOM with zero commission using Vantage share CFDs. Sign up and start trading today!

References

  1. “Our History – ExxonMobil” https://corporate.exxonmobil.com/who-we-are/our-global-organization/our-history Accessed 16 May 2023
  2. “What we do – ExxonMobil” https://corporate.exxonmobil.com/what-we-do Accessed 16 May 2023
  3. “Exxon Mobil Corp – Google Finance” https://www.google.com/finance/quote/XOM:NYSE?hl=en Accessed 16 May 2023
  4. “Our History – ExxonMobil” https://corporate.exxonmobil.com/who-we-are/our-global-organization/our-history Accessed 16 May 2023
  5. “Exxon – 53 Year Stock Price History | XOM – Macrotrends” https://www.macrotrends.net/stocks/charts/XOM/exxon/stock-price-history Accessed 16 May 2023
  6. “ExxonMobil Stock History: Everything Investors Need to Know – The Motley Fool” https://www.fool.com/investing/2016/07/16/exxon-mobil-stock-history-everything-investors-nee.aspx Accessed 16 May 2023
  7. “Exxon Shares Outstanding 2010-2023 | XOM – Macrotrends” https://www.macrotrends.net/stocks/charts/XOM/exxon/shares-outstanding Accessed 16 May 2023
  8. “Dividends – ExxonMobil” https://investor.exxonmobil.com/stock-info/dividends Accessed 16 May 2023
  9. “Earnings – ExxonMobil” https://investor.exxonmobil.com/earnings Accessed 16 May 2023
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