Hi George,
I'm sure you're right about earnings estimate going down, but EXXON has had some fabulous quarters over the last few years. Interestingly, acccording to the quarterly reports I receive from them, a great deal of their revenue in the last few years has come from chemical sales, not oil and gas. EXXON I thing is extremely well diversified in the oil and natural gas business. The corporation appears to have a hand in every aspect of the business so that if one sector is down, another is up. Kind of like a well diversified portfolio. Anyway, I think that it makes EXXON a superb long term holding, and a stock which slowly but steadily appreciates in value.
As I've also mentioned before, whether times are good or bad, EXXON spends a lot on R&D, and puts a great deal of effort into cutting costs and keeping general expenses down.
I probably have't told you anything you don't already know! But I got to practice my typing skills.... I've actually been out a lot recently looking for chopsticks in the road here in Japan...
Sincerely,
Denise |
