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Is ExxonMobil on the Road to Becoming an EV Stock?

Is ExxonMobil on the Road to Becoming an EV Stock?

ExxonMobil (NYSE: XOM) has a long history of scavenging the earth in search of new energy sources. Its primary focus is on finding new oil and gas deposits to sustain and grow its fossil-fuel output. According to a report by the Wall Street Journal, Exxon bought 120,000 gross acres in southern Arkansas for more than $100 million from exploration company Galvanic Energy.