Exxon Mobil posted their second consecutive quarterly loss due to the pandemic. They are taking extreme cost cutting measures to hang on to their elite Dividend Aristocrat status. For the first time many years, they didn't raise the dividend in June, but they could always raise it a penny share in December. https://finance.yahoo.com/news/exxon-posts-second-straight-q...
If XOM cuts their dividend, the stock price will just go down further from 43.00. They have stopped matching employees' contributions to their 401(K)plan for the time being as well job layoffs. That's bound to make employees unhappy. Management will have to make some hard decisions over the next year.
Exxon Mobil's Quiet Growth Business With Massive Potential In An Inflationary EnvironmentAug. 10, 2020 7:50 AM ETSummaryExxon's Chemical segment has made up as much as 58.9% of net income during times of lower WTI prices.Inside of its Chemical business, Exxon is a clear leader in polyethylene production capacity in North America.Polyethylene demand is expected to continue to grow over the very long term as global economies develop.Exxon's massive production capacity in polyethylene's main raw material, ethylene, could both shield against inflation and provide a significant competitive advantage.Futures contracts over the next several months are indicating expectations of continued lower crude prices, highlighting the critical importance of the Chemical segment.RTWT https://seekingalpha.com/article/4366989-exxon-mobils-quiet-...
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |