Exxon Mobil: Shares of this mega-cap energy leader backed up nicely as oil sold off in August, and with people having hit the road for the holiday weekend there may have be some big gasoline consumption.
Exxon Mobil Corp. (NYSE:XOM) is the world’s largest international integrated Oil and Gas company. It explores for and produces crude oil and natural gas in the United States, Canada, South America, Europe, Africa and elsewhere.
Exxon also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and specialty products, and it transports and sells crude oil, nat gas and petroleum products.
The company announced recently that Exxon Mobil Catalysts and licensing has introduced Exxon Mobil Renewable Diesel (EMRD) process technology to help meet the evolving needs for mobility, while utilizing renewable feedstock. This new process technology converts feedstocks including, but not limited to, vegetable oils, unconverted cooking oil and animal fats, into renewable diesel.
Due to significant interest in producing renewable jet fuel as a primary product, Exxon is also developing advanced catalyst and process technology solutions that will offer EMRD process licensees flexibility to tailor the amount of jet fuel versus diesel produced.
Investors receive a 6.45% dividend, my 1yr price target at 90. 26 is above the 66.25 consensus target for Exxon Mobil stock. The shares are trading pre-market Wednesday at 55.21.
Have a prosperous day, Keep the Faith!