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01/20/2015 7:00 am EST
In my many years of investing, this year has been about the most schizophrenic market I have ever seen. Many stocks are quite undervalued, including those connected with oil, suggests Russ Kaplan, editor of Heartland Advisor.
Personally, I think the market’s reaction to the fall in oil prices is exaggerated. And, at the present time, one of the worst performing stocks is Exxon-Mobil (XOM).
Oil is trading at its lowest level in five years and all oil stocks have been battered down due to OPEC’s (the oil producing countries in the Middle East) high oil production levels.
I think the market’s reaction to the plunge in oil prices is exaggerated. Exxon-Mobil is one of the best of the blue chip stocks in the energy sector and it should easily withstand a lower oil price.
In fact, I bought my first shares of Exxon in 1981, when the price of oil was considerably less than it is today.
Exxon has been in business since 1870 when it only consisted of Rockefeller's Standard Oil. It has adapted to fluctuating oil prices and all other changes in the industry since then.
They are now a diversified company producing oil, natural gas and, with their eyes on the future, are currently involved in the development of alternative energy.
In addition to being a solid company, Exxon-Mobil pays a dividend of over 3%, which has been raised six times since 2010.
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