| ExxonMobil (XOM) to Boost Processing Capacity at Beaumont | |
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Oil giant ExxonMobil Corporation XOM announced its intention to boost its light crude processing capacity at the Beaumont refinery.
The production capacity is expected to increase by 20,000 barrels per day and thereby enhance the refining facility’s flexibility. It will also strengthen ExxonMobil’s integrated downstream portfolio in Southeast Texas.
The ample and affordable availability of U.S. light crude from shale has aided the expansion of Beaumont refinery’s capacity. This, therefore, establishes ExxonMobil’s long-term view and well-organized approach toward business investments. It also validates the company’s focus on bolstering the American economy and job creation. Beaumont is positioned advantageously to supply in high-demand growth markets around the U.S. despite stiff competition.
ExxonMobil is the best-run integrated oil company in the world in terms of high return on capital employed. As the largest publicly-traded oil company, ExxonMobil has long been a core holding for investors seeking a defensive name with continued dividend growth.
ExxonMobil is in excellent financial health and has an AAA credit profile. ExxonMobil’s free cash flow generation remains strong, and the company has consistently been returning value to shareholders. It has steadily raised its dividend, which currently stands at an annualized $2.76 per share. The company also has a solid share buyback program in place.
ExxonMobil Corporation is the largest publicly-traded oil company in the world engaged in oil and natural gas exploration and production, petroleum products refining and marketing, chemicals manufacture, and other energy-related businesses. Approximately 83% of ExxonMobil’s earnings come from its operations outside the U.S. The company divides its operations into three segments: Upstream, Downstream and Chemicals.
ExxonMobil currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the energy sector are Seadrill Partners, LLC SDLP, CVR Refining, L.P. CVRR and Valero Energy Partners, L.P. VLP. Each of these stocks sports a Zacks Rank #1 (Strong Buy).
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Exxon Mobil is a and oil producing company based in United states of america. Exxon Mobil is listed in Germany, in United Kingdom and in United States of America. Its market capitalisation is US$ 521.8 billions as of today (€ 476.7 billions). Its stock quote reached its lowest recent point on March 14, 1997 at US$ 100.12, and its highest recent level on October 10, 2024 at US$ 123.14. Exxon Mobil has 4 237 270 016 shares outstanding. |