ExxonMobil (XOM.US) is a multinational energy company with a market capitalization of $426.21 billion as of July 28, 2023. Founded in 1999 through the merger of Exxon and Mobil, the company's roots date back to the late 19th century. It was founded in 1870 as Standard Oil of New Jersey, while Mobil was established in 1911 as the Standard Oil Company of New York.
Both companies played significant roles in the oil and gas industry, and their merger created one of the largest energy companies globally. ExxonMobil operates across various segments, including exploration, production, refining, and marketing of petroleum and petrochemical products. With a history of over a century, the company has maintained its position as a major player in the global energy sector, contributing to the world's energy needs.
Looking at the stock price history of ExxonMobil over the past five years, we can see that the stock reached its highest price in April 2023, when it hit $119.92 per share. This was most likely due to the strong performance of the energy sector at the time, which was driven by the growing global demand for energy. However, the stock's lowest price was in March 2020, when the global COVID-19 pandemic hit hard, and the stock reached $30.11 per share. This was a significant drop, which many investors might have seen as a good buying opportunity.
A trading strategy that traders might consider when analysing this stock could be to look out for price trend. Traders could use technical analysis tools, such as moving averages or the awesome oscillator, to identify trends over different timeframes. This could help traders identify when a stock is oversold or overbought, which could indicate a potential buying or selling opportunity.
Before starting to trade ExxonMobil stock, it's essential to consider all its competitors in the oil and gas industry. Knowing and studying industry rivals may provide valuable insight into market trends and dynamics, enabling you to make more informed trading decisions. They include:
- Chevron Corporation (CVX.US): Chevron, an energy major, operates in over 180 countries and is involved in all aspects of energy production, including exploration, production, refining, and marketing. Additionally, Chevron has a diversified portfolio, including renewable energy.
- Royal Dutch Shell (RDS-B.US): Shell is another global leader with operations in over 70 countries, offering services in gas, oil, and chemical production. Similar to Chevron, Shell's diversification into renewables, particularly wind and solar power, makes it a more attractive long-term investment.
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