Elliott Gue, mein geschätzter US-Kollege hat sich mal wieder auf der moneyshow-Seite zu Wort gemeldet. Einmal mehr zu seinem Lieblingsthema Energie.Es geht unter anderem um ExxonMobil.
Big integrated oil companies are traditionally considered the most defensive plays in the energy sector. Companies like ExxonMobil (NYSE: XOM) are less volatile than the Standard & Poor’s 500 index, offer above-average dividend yields, and have a history of performing well even amid weak commodity prices.
Consider that Exxon Mobil’s beta (a measure of a stock’s volatility relative to the S&P 500) is 0.78, [which means] the stock is less volatile than the index as a whole. Exxon has generated a total return of just under 700%—11% annualized—over the past two decades, [nearly double the] 340% for the S&P 500.
Although ExxonMobil and its ilk deserve their long-term reputation for safety and consistent profitability, even omitting BP (NYSE: BP), the Energy Strategist Integrated Oils index has still lagged the S&P 500 Energy Index this year. ExxonMobil, the quintessential energy blue chip, is off 12.6% so far this year. ….
Das Ergebnis von Elliott ist ganz einfach: Yielding 3%, ExxonMobil is a Buy up to $65. (It traded above $61 early Thursday after the company reported earnings of $1.60 a share, 14 cents above analysts’ estimates—Editor.) Big Oils are a classic value investment proposition at current prices; now is the time to go shopping.