The company sees no reason to change its course, but it may have to under pressure from authorities that are investigating it on climate change-related charges and from environmental groups. This is basically true: during the downturn Exxon leaned on downstream to offset losses in the upstream-mainly in North America-and managed to remain profitable. Its sheer size and diversified business model with solid operations both upstream and downstream are seen as guarantees of stability. Many stock analysts consider Exxon a top pick in the energy sector. Regardless, as far as Exxon is concerned, it is not changing course. The latter, by the way, recently cost Exxon its AAA rating from S&P, but the outlook remained stable. Exxon is happy to be where it is: consistently in the black, unlike many of its peers, and fearlessly pursuing a progressive dividend policy despite market conditions. ExxonMobil may be the biggest, but not the fairest by far, if you ask some of its shareholders, who are pressing the company to acknowledge climate change and adjust its strategy accordingly. Large and sustainable diversified model, progressive dividend strategy, facing possible climate-related chargesĮxxonMobil is the biggest of them all, coming in at number 2, with 2015 revenues of $246.2 billion. Here’s what these five have to show for the last couple of years. ![]() All of these companies have in common their solid revenues, but revenues alone don’t give the whole picture. The latest Fortune 500 list has four oil majors in the top 100 – Exxon, Chevron, Marathon Petroleum, and ConocoPhillips – and another one, Devon Energy at 219.
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