Exxon Mobil Corporation (NYSE:XOM) is developing natural gas centers in Papua New Guinea

Posted by Nathan Alexander July 9, 2013 0 Comment 2349 views

Exxon Mobil Corporation (NYSE:XOM), which represents the epitome of ‘Big Oil’, is currently involved in the development of natural gas centers in Papua New Guinea for the  production and export of Liquid Natural Gas. Exxon Mobil Corporation (NYSE:XOM)  and InterOil Corporation (USA) (NYSE:IOC) have been jointly involved in the exploration and production of natural gas in various properties across the country with a growing production of natural gas in the U.S., owing to a decline in prices compared to other countries, namely Japan.

Earlier this week, Exxon Mobil Corporation (NYSE:XOM) reported growth in dividend rates at 12% and payouts of up to 25% of the company’s earnings. Eric H. Jostrom, Chairman and Chief Investment Officer of Ipswich Investment Management Co., Inc. noted that there has been significant improvement in the way oil companies are addressing the earnings payout issue, supporting the investor’s interest in oil stocks.

Shares of Exxon Mobile Corporation (NYSE:XOM) closed higher at $93.34 per share on Tuesday, recording a gain of 0.37 percent over the previous closing price. The shares of the company are currently fluctuating with intraday movements in the range of $92.25 to $93.44 per share, after opening at $92.64 per share. The shares of Exxon Mobile Corporation (NYSE:XOM) recorded a 52-week low price of $82.83 per share and a 52-week high price of $93.67 per share.

Exxon Mobile Corporation (NYSE:XOM) had a trading volume of 12.74 million shares on Monday, with an average trading volume of 13.71 million shares per day. The company currently has 4.45 billion shares outstanding in the market with a market capitalization of $411.69 billion. Institutional ownership in Exxon Mobile Corporation (NYSE:XOM) is 50 percent of its total equity capital.

About Nathan Alexander

Nathan Alexander holds bachelor’s degrees in Journalism and European Studies from Boston University. Nathan reports round up the day’s business and financial market news and include keynote interviews with major business players and updates on Asian, European and US stock markets. He has interviewed heads of leading European banking institutions such as European Central Bank President Jean-Claude Trichet and HSBC Chairman Stephen Green, and CEOs from the business world including Microsoft founder Bill Gates, Virgin Chairman Sir Richard Branson and former Porsche President and CEO Dr Wendelin Wiedeking.

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