On April 29, Exxon (NYSE:XOM) declared its regular 87 cents per share dividend. This makes Exxon Mobil stock very attractive with its annualized 7.8% dividend yield at today’s price. At the time, Exxon Mobil stock had an 8.3% dividend yield. I said then that XOM was very attractive since I believe the management about the dividend. I was proven right with the recent announcement. However, I still believe that Exxon is undervalued.
XOM stock is worth more, possibly much more than its current stock price. Its dividend is stable and the dividend yield should continue to fall. The price of oil and gas will normalize with the uptick in global economic activity. In the long term, Exxon looks like a winner.
Source: InvestorPlace
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