Exxon also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and specialty products, and it transports and sells crude oil, natural gas and petroleum products.
Top Wall Street analysts expect Exxon to remain a key beneficiary in this higher oil price environment, and most remain strongly positive about the company’s sharp positive inflection in capital allocation strategy, upstream portfolio, and leverage to a further demand recovery, with Exxon Mobil offering greater downstream/chemicals exposure relative to peers.
The dividend yield here is 3.52%. Piper Sandler has set its price target at $145. The consensus target is just $127.79, and Exxon Mobil stock closed at $105.76 on Friday.
Genuine Parts
When the going gets tough in the economy, consumers looking to save money turn to do-it-yourself, and buying and installing replacement car parts is huge. Genuine Parts Co. (NYSE: GPC) distributes automotive replacement parts, as well as industrial parts and materials.
The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, sport utility vehicles, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment and heavy-duty equipment. It offers accessory and supply items used by various automotive aftermarket customers, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns and individuals.
Genuine Parts also distributes industrial replacement parts and related supplies, such as bearings, mechanical and electrical power transmission products, industrial automation and robotics, hoses, hydraulic and pneumatic components, industrial and safety supplies, and material handling products for original equipment manufacturer, as well as maintenance, repair and operation customers in equipment and machinery, food and beverage, forest product, primary metal, pulp and paper, mining, automotive, oil and gas, petrochemical, pharmaceutical, power generation, alternative energy, governments, transportation, ports and other industries.
In addition, the company provides various services and repairs comprising gearbox and fluid power and process pump assembly and repair, hydraulic drive shaft repair, electrical panel assembly and repair, hose and gasket manufacture and assembly, and other value-added services.
Genuine Parts stock investors receive a 2.55% dividend. The BofA Securities target price of $189 is well above the $176.33 consensus target. The stock closed almost 3% higher on Friday at $153.35.
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