How Do XOM Shares Do It?
Is ExxonMobil (XOM) being saved, for the moment, by the money coming into the S&P 500? Is that why this company -- which paid an arm and a leg to XTO (XTO) to beef up its nat-gas business at the absolute high -- is just a few points off its high despite Chevron's announcement? Is that why this huge market cap company is outperforming? It sure isn't because of its meager yield. It's not because of its extensive refining operation which I can't believe is doing much better than Chevron's (CVX).
Exxon's always been a company that seems to be blessed. It's as if they can do no wrong. They paid $41 billion for XTO, which is probably worth less than half of that just two years ago. They committed to natural gas but have stated publicly and emphatically they don't think it will be an important surface vehicle fuel, even though powerplant demand is NEVER going to take up the slack of a commodity trading at $2.71....129 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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