Does Exxon Mobil Have a Bright Future?
T = Trends for a Stock’s Movement
Exxon Mobil is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The company has a number of divisions and affiliates with names that include ExxonMobil, Exxon, Esso, or Mobil that operate or market products in the United States and other countries of the world. Exxon Mobil’s principal business is energy, involving exploration for and production of crude oil and natural gas; manufacture of petroleum products; and transportation and sale of crude oil, natural gas, and petroleum products.
Exxon Mobil shares are up in premarket trading as Warren Buffett’s conglomerate, Berkshire Hathaway (NYSE:BRKA)(NYSE:BRKB), bought 40.1 million shares in the oil major, making the company Exxon’s sixth-largest shareholder. The stake is worth $3.45 billion, according to a filing with the U.S. Securities and Exchange Commission seen by Reuters. Buffett bought the stake in Exxon in the second quarter but received SEC permission to not reveal the buy until now, a move he sometimes employs to prevent investors from copying him, Reuters said.