Bought: Exxon Mobil | MoreDividends.com

Bought: Exxon Mobil

Exxon Mobil ( XOM ) is the largest dividend aristocrat in the world with a market cap of around $300 billion. It is also one of the few aristocrats in the energy sector. I previously had started a position in the company but had been looking to strengthen the position. When the company reported Q2 Earnings they were down around 50% for the same period the year before but they also showed that they have been cutting down on their capital expenditures.



I am giving this investment a long term outlook because I am well aware that there will be no immediate return on this investment. Since the company has an integrated business model, I do think it will be able to maintain its aristocrat status. With the current oversupply of oil in the market I think you will see the newer oil companies, that embrace the fracking technology, struggle and go out of business first. With oil recently dropping below $40’s a barrel I still see future potential to build a stronger position in the company.



Although I am a little late on posting this, I do still think that I got a good deal for the long term. When I put in my limit order, I was able to purchase 6 more shares of Exxon Mobil for $78.97 per share. In making this decision, I was also able to lower my cost basis on my position in Exxon Mobil down to $82.79. I look forward to being able to lower my cost basis in the future. Eventually the oil market will make a huge turn around and i’m excited to ride the wave all the way up from the bottom!

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