ExxonMobil Just Did This for the First Time Shocking Wall Street

ExxonMobil didn’t make it onto the top ten list of companies in the S&P 500 by index weight at the end of August.

This was the very first time the American multinational oil and gas corporation didn’t make the list.

According to the month-end company weightings published by S&P Dow Jones Indices, Exxon was number twelfth in terms of company rankings by weight.

The S&P 500 debuted initially roughly 90 years ago and Exxon Mobile occupied a place in the top 10 since day one.

The S&P 500 is up nearly 15 percent this year.

It was also at the end of August that ExxonMobil’s first oil production vessel arrived off the coast of South Africa’s Guyana.

The company’s Liza Destiny is a floating, production, storage and offloading vessel, called an FPSO, and arrived following a 42-day journey from Singapore, where it was built.

It was in May that Exxon authorized the $6 billion Liza Phase 2 project that’s expected to start up by mid-2022.

Disclaimer: We have no position in Exxon Mobil Corporation (NYSE: XOM) and have not been compensated for this article.