Cheaper Alternatives to Exxon
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Exxon (XOM) gets slammed by the Union of Concerned Scientists for trying to suppress science on climate change and hurt the planet for profit. See ThePanelist NewsFlash. I had a link to the ExxonMobile response but they seem to have taken it down from their website on Corporate Citizenship.
I want exposure to the oil, gas and energy industries. Energy will only get more important as China and India continue to industrialize and become consumers. But Exxon is not the best way to play this exposure. At a p/e of 11.1 and a growth rate no better than other huge oil companies I can find better value and better morals (if only slightly sometimes) picking other energy companies. The oil companies and the trailing P/E ratios of companies I do own are as follows:
Conoco Phillips (COP): 6.4
Occidental Petroleum (OXY): 8.0
Andarko Petroleum (APC): 5.2
Chevron (CVX): 8.9
BP - ADR formally British Petroleum (BP): 9.8
Statoil (Norwegan State Oil Co) (STO): 9.6
If Exxon were a real bargain, I'd hold my nose and buy it. Then I'd vote my proxies with some of the shareholder resolutions bent on trying to get Exxon management to behave themselves.
Disclosures and Confessions: Except for Exxon (XOM) I own and have traded in the last two years) all the stocks named above. If I were to sell any of the oil companies named above it would be Statoil first. I also own February 70 strike calls on Chevron. I may also liquidate the Chevron Calls as they approach expiration.
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