Exxon's High Share Price And Exposure To Natural Gas Makes It Easy To Sell Now
Exxon Mobil (XOM) shares have made quite a run in the past several weeks and now trade very close to 52-week highs of $92.50 per share. This stock was trading at about $77 per share in June, and it is also now trading well above the 200-day moving average, which is around $84 per share. Furthermore, thanks to a big jump in the stock price, the shares now yield just about 2.5%.
Exxon Mobil is one of the world's largest companies in terms of both revenues and market capitalization. For many years it has been a blue chip oil stock for energy and income investors. However, with the stock trading at lofty levels, investors should consider that it might be a good time to take profits and wait for a pullback. Exxon Mobil increased its exposure to natural gas a few years ago, and this decision does not appear to be paying off for the company, as natural gas prices remain weak.
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