It's Hard Not To Be Amazed -- February 1, 2023

There are traders and there are investors.

Link here.

ExxonMobil reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever.

Exxon said today it generated earnings of $55.7 billion and $76.8 billion of cash flow from operating activities in 2022 “by leveraging an advantaged portfolio and delivering strong operational performance.”

High oil and gas prices were the key reasons for higher profits at Exxon, which beat its own annual earnings record of $45.2 billion from 2008 – when oil prices hit a record $142 per barrel – and posted the highest-ever annual profit by a major Western oil firm.

I first started accumulating shares of XOM on March 23, 1989. I have never sold. Only accumulated. Every quarter. Every year.

I've always preferred CVX to XOM. I bought Texaco about the same time as I bought XOM back in 1989, and Texaco eventually morphed into CVX. I've told the Texaco story many, many times. One of my top five investment stories ever. Let's compare:

Dividend / pays:

• XOM: 3.2%
• CVX: 3.6%