12 Best Oil Refinery Stocks To Invest In According to Analysts

4. Exxon Mobil Corporation (NYSE:XOM)

Stock Upside Potential: 20.95%

ExxonMobil Corporation (NYSE:XOM) manages an industry-leading portfolio of resources and is one of the largest integrated fuels, lubricants, and chemical companies in the world. Exxon is also one of the largest refiners in the world, with nearly 5 million barrels per day of distillation capacity at 21 refineries.

ExxonMobil Corporation (NYSE:XOM) is benefiting significantly from its $59.5 billion acquisition of Pioneer Natural Resources last year and reported $34 billion in earnings and $55 billion in cash flow from operations in 2024 – its third-highest tally in the past decade despite weaker market conditions. The company also managed to deliver record production in the Permian and Guyana, helping triple the South American country’s GDP per capita since it started production in 2020. The oil major’s strong financial position has allowed it to distribute more than $125 billion in dividends and buybacks in the last five years, $30 billion more than the closest competitor. Exxon maintained its record of raising its annual dividend for 42 consecutive years, increasing its quarterly dividend by 4% to $0.99 per share for Q1 of 2025.

ExxonMobil Corporation (NYSE:XOM) ended 2024 with a massive cash balance of $23.2 billion. The company helped bolster its balance sheet through the divestment of the Fos-sur-Mer refinery – one of France’s major refineries – and two other oil terminals to Rhone Energies in Q4. With the sale of the 140,000 barrels per day refinery, Exxon is reducing its total refining capacity in Europe to about 1.1 million bpd, according to estimates by Bloomberg.