ExxonMobil is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day. At the end of 2023, reserves were 16.9 billion barrels of oil equivalent, 66% of which were liquids. The company is one of the world's largest refiners with a total global refining capacity of 4.5 million barrels of oil per day and is one of the world's largest manufacturers of commodity and specialty chemicals.

This pick list highlights constituents of the Morningstar US Large Cap Index that we believe offer investors the best risk-adjusted return prospects. Stocks of large-cap companies where neither growth nor value characteristics predominate. Stocks in the top 70% of the capitalization of the U.S. equity market are defined as large cap.

Stocks are broadly higher at midday, with the Russell 2000 up 4%, the Dow up 3%, and the Nasdaq and S&P 500 each up 2%. The 10-year Treasury note is up 16 bps at 4.45%. Oil has pivoted and is now up 1% at $72 per barrel. Gold has also reversed and is now down 2%. Bitcoin is at a record high, up 7% at $74,000.

Exxon Mobil is the world's largest nongovernment-owned energy company. It is also one of the world's largest publicly traded companies in terms of market capitalization. XOM operates globally along the entire hydrocarbon value chain, from energy exploration to end-user product sales and marketing. The company is the largest refiner and marketer of refined products and its chemicals business is one of the world's largest. The company is the result of the 1999 merger of Exxon and Mobil.