What to watch in markets on Friday, August 12, 2022.
Originally known as Standard Oil in the 1800s, oil major ExxonMobil (NYSE: XOM) offers the third-longest consecutive payout in America. The company began doling out dividends in 1882 and hasn't stopped since. While this certainly hurt oil majors, like ExxonMobil and drilling-focused energy stocks, ExxonMobil emerged relatively strong, thanks to its operating structure.
Sudden reversal comes just three days after president approves sale of the oil company’s Niger Delta business