XOM, Exxon, began buying today, at $69.7, a 1/3 position. Will buy more in increments, at lower prices if the market goes down, planning on a full position if it hits $55. Sell half my position at 90$.
Stock price range: 90-54$ (from hi prices 2007, 2011, to low prices 2008, 2010)
div yield = 1.88/69.7 = 2.7%
29 consecutive years of dividend increases
shares:
6.95B in 2000
4.88B in 2010
payout ratio 25%
PE: 10.5 trailing, 8.5 forward; usual range 9-13
P/S: 0.8; usual range 0.8-1.1
beta 0.5
Production Statistics:
0ver 100% Replacement, 17 years in a row
84 billion BOE resource base at the end of 2010. Industry Leader.
Exxon is the largest natural gas producer in the U.S., in addition to being an Oil Major. Revenues and profits track the price of oil and gas.
It meets all my Rules except:
div. yield lo, but consistent stock buybacks of 2-3%/y make up for that
stock price in the middle of LT range, but valuation at low end |
