Energy stocks are often a favorite of those looking for income opportunities because they generally pay a dividend. While fluctuations in energy demand and pricing do occur, the biggest companies keep delivering for shareholders. Exxon Mobil XOM is one of the largest, a multinational corporation with a portfolio that includes oil, natural gas, lubricants and chemicals. How much Exxon Mobil stock will it take to put $100 in your hands each month?
First let's look at how the stock has fared recently. The last several quarters have been strong for Exxon Mobil amid higher prices. It will report its Q2 2024 earnings on August 2 before the market opens.
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Wall Street analysts expect the energy giant to post an EPS of $2.13, up from $1.94 in the year-ago period. According to data from Benzinga Pro, quarterly revenue is expected to be $91.38 billion, up from $82.91 billion in the year-ago period. The 52-week range of Exxon Mobil's stock price was $95.77 to $123.75. Exxon Mobil’s dividend yield is 3.30%. It paid $3.92 in dividends per share during the last 12 months.
The Latest On Exxon Mobil
As per a Reuters report, Exxon Mobil shutdown its 251,800 barrels-per-day Joliet, Illinois refinery due to a power outage caused by a storm. The Joliet refinery primarily processes Canadian crude oil and has a production capacity of approximately nine million gallons of gasoline and diesel per day. The report quoted a source stating, "Situations like this take time to recover as they will have to see if the sudden shutdown did damage to any of the units."
Last week, it was reported that The U.S. Federal Trade Commission plans to delay its decision on Chevron Corporation and Hess Corporation’s $53 billion merger until after the settlement of an arbitration case with Exxon Mobil. The arbitration case with Exxon, claiming a right of first refusal over Hess's main asset in Guyana, is expected to extend into the fourth quarter, delaying the FTC's review by several months.
How Can You Earn $100 Per Month As An Exxon Mobil Investor?
If you want to make $100 per month –$1,200 annually – from Exxon Mobil dividends, your investment value needs to be approximately $36,363, 306 shares at $118.80 each.
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Understanding the dividend yield calculations: When estimating, you need two key variables – the desired annual income ($1,200) and the dividend yield (3.30%). So, $1,200 / 0.033 = $36,363 to generate an income of $100 per month.
You can calculate the dividend yield by dividing the annual dividend payments by the stock’s current price.
The dividend yield can change over time due to fluctuating stock prices and dividend payments on a rolling basis.
For instance, assume a stock that pays $2 as an annual dividend is priced at $50. Its dividend yield would be $2/$50 = 4%. If the stock price rises to $60, the dividend yield drops to 3.33% ($2/$60). A drop in stock price to $40 will have an inverse effect and increase the dividend yield to 5% ($2/$40).
In summary, income-focused investors may find Exxon Mobil stock an attractive option for making a steady income of $100 per month by owning 306 shares of stock. There may be more upside to come as investors benefit from the company's consistent dividend hikes. Exxon Mobil has raised its dividend consecutively for the last 41 years. Exxon Mobil isn't the only opportunity out there; there are other investments that have a higher yield. Having a diversified portfolio across multiple asset classes provides investors with more protection if energy prices do take a tumble, but Exxon Mobil may definitely appeal to investors looking for a little cash along with their capital appreciation.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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