10 Cheap NYSE Stocks To Invest In Now

6. Exxon Mobil Corp. (NYSE:XOM)

Current Forward P/E as of December 16: 12.5

Number of Hedge Fund Holders: 86

Exxon Mobil Corp. (NYSE:XOM) is a global leader in the oil and gas industry. It focuses on upstream operations, which encompass the exploration and production of crude oil and natural gas. It is also a major producer of a variety of advanced plastics, including polypropylene and polyethylene.

Its third-quarter 2024 earnings of $8.6 billion were driven in part by the successful integration of Pioneer Natural Resources, a major independent oil and gas exploration and production company in the US which is primarily focused on the Permian Basin in Texas. Exxon Mobil Corp.’s (NYSE:XOM) Upstream segment’s year-to-date 2024 earnings doubled compared to 2019 to reach $10.00 per oil-equivalent barrel. This is attributed to the acquisition of Pioneer, which added 770,000 barrels of oil equivalent per day of high-quality production to the company’s portfolio.

Exxon Mobil Corp. (NYSE:XOM) leverages its technology and Pioneer’s Permian Basin acreage for efficiency gains. Industry-leading laterals (including a recent 18,250-foot well and planned 20,000-foot well) reduce well counts, minimize surface impact, and improve capital efficiency. This drives Upstream success and strong shareholder returns.