The good news for investors is the company’s decision to increase the quarterly dividend. The quarterly dividend was increased by 10%. Now, the total annual dividend is $2.28 per share with a yield of 2.6%.
While the earnings were better than expected, investors shouldn’t be too impressed. Total exploration and production income fell from the same quarter last year. Both upstream and downstream earnings sank. The slightly higher profits of $50 million came from the boost in earnings it its chemical division.
The report had both good and bad news. Investors shouldn’t worry for too long, though. The company has a few upstream projects in the works to bolster exploration and production earnings.
Exxon Mobil Corporation (NYSE:XOM) is a giant company that has multiple, strong divisions. A dip in exploration and production can be offset by growth in other areas. Investors can expect Exxon Mobil Corporation (NYSE:XOM) to continue focusing on company-wide growth and maintaining profitability.
There are a lot of options for oil and gas companies in the United States. The Bakken shale continues to produce, so investors should watch for companies that have operations there. Hess Corp. (NYSE:HES) and Denbury Resources Inc. (NYSE:DNR) are two companies to consider. For a strong dividend play, Exxon Mobil Corporation (NYSE:XOM) is a good investment vehicle. Steady dividend growth and diversified operations can be attractive to some investors. Keep watching these companies and consider them for your portfolio.
The article Three Oil Companies to Watch originally appeared on Fool.com and is written by Austin Higgins.
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