10 Most Profitable Cheap Stocks to Buy Now

4. Exxon Mobil Corporation (NYSE:XOM)

Forward P/E: 14.10

TTM Net Income: $33.68 Billion

Number of Hedge Fund Holders: 104

Exxon Mobil Corporation (NYSE:XOM) is an American international energy and petrochemical company. The company holds an industry-leading portfolio of resources and its main businesses are Upstream, Energy Products, Chemical Products, and Specialty Products. Exxon Mobil Corporation (NYSE:XOM) also owns and operates the largest CO2 pipeline network in the US. It is one of the largest integrated fuels, lubricants, and chemical companies in the world. XOM ranks among the most profitable cheap stocks to buy now.

In December 2024, the company announced its plans through 2030 to build on its unique strengths and generate an additional $20 billion in earnings potential and $30 billion in cash flow potential over the next six years. Exxon Mobil Corporation (NYSE:XOM) expects to grow its earnings at a compound annual growth rate (CAGR) of 10% and cash flow at 8%. The company will also be looking to make strategic moves to achieve $7 billion in structural cost savings by streamlining business processes, optimizing supply chains, improving maintenance turnaround processes, and upgrading technology and data systems. Following its acquisition of Pioneer in 2024, Exxon Mobil Corporation (NYSE:XOM) has announced plans to increase annual synergies by over 50% to more than $3 billion. With this acquisition, the company has the largest contiguous acreage position in the Permian Basin with twice the number of low-cost drilling locations compared to its closest competitor. In 2024, the company reported that it achieved record production from both its original and newly acquired Permian assets. Exxon Mobil Corporation (NYSE:XOM) is investing in technology to make operations more efficient and aims to roughly double production in the Permian Basin to approximately 2.3 million barrels of oil equivalent per day by 2030.