Exxon is the highest-quality integrated oil overall (operating and assets) and that its downstream and chemicals segments are key differentiators. So it stands to reason that it should invest to maximize those advantages. However, integrated oils have a spotty record of delivering on long-dated volume and return targets.
Most analysts expect Exxon stock to go nowhere. If it does, you’re in good shape as an income investor, collecting a competitive dividend of 4%.
But there is growing uncertainty at every stage of the oil business. U.S. production has been constrained by a shortage of pipelines in the Permian. America’s refining capacity is at its upper limit. International tensions are rising, and the International Energy Agency considers current investment insufficient.
Most analysts expect Exxon stock to go nowhere. If it does, you’re in good shape as an income investor, collecting a competitive dividend of 4%.
But there is growing uncertainty at every stage of the oil business. U.S. production has been constrained by a shortage of pipelines in the Permian. America’s refining capacity is at its upper limit. International tensions are rising, and the International Energy Agency considers current investment insufficient.
