Exxon Mobil Corporation (NYSE:XOM) is included among the 11 Energy Stocks to Buy for a Retirement Portfolio.
Exxon Mobil Corporation is one of the largest integrated fuels, lubricants, and chemical companies in the world.
Exxon Mobil Corporation received a boost on December 8 when BNPP analyst Lucas Herrmann upgraded the stock from ‘Underperform’ to ‘Neutral’, while giving it a price target of $114.
Earlier on December 1, UBS assumed coverage of Exxon Mobil Corporation with a ‘Buy’ rating and a price target of $145. According to the analyst, the stock’s appreciation is driven by the positive earnings revisions and higher-than-expected shareholder returns. Moreover, UBS highlighted the role of the company’s Energy Products, Chemical Products, and Specialty Products segments as good contributors to its free cash flow.
Exxon Mobil Corporation generated free cash flow of $6.3 billion in the third quarter, with shareholder returns of $9.4 billion, including $4.2 billion of dividends and $5.1 billion of share repurchases. The oil major also increased its quarterly dividend by 4% to $1.03 per share, marking its 43rd year of dividend growth.
As of the writing of this piece, Exxon Mobil Corporation boasts a robust annual dividend yield of 3.55%.
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