Institutional Investors and Hedge Funds Divided on Exxon Mobil's Future

2024-03-12

Exxon Mobil (XOM) was closely monitored by a large number of hedge funds and ETFs during the last quarter. Data revealed that 3578 hedge funds held a substantial amount of XOM shares, totaling 2.54 billion shares. Additionally, 57 ETFs were reported to hold 243 million XOM shares.

Among the top institutional holders of XOM were Vanguard Group Inc., BlackRock Inc., and State Street Corp., with Vanguard leading the pack by holding the largest number of shares at 388.5 million.

Throughout the quarter, 1580 hedge funds were actively buying XOM shares, while 1491 were selling. The total number of XOM shares bought by hedge funds amounted to 152.9 million, with 78.5 million shares being sold. Notably, 145 hedge funds doubled their position on XOM, while 16 funds decided to sell at least 90% of their XOM shares.

Data from sharkstracker.com provided a data-driven perspective on the market, offering valuable insights into investor sentiment towards XOM. Particularly interesting was the contrast between the most pessimistic and optimistic institutions on XOM, with GQG Partners LLC and Fisher Asset Management, LLC representing opposing views on the company's prospects.

The significant interest from hedge funds and ETFs, coupled with the differing views of institutional investors, painted a picture of a dynamic and potentially volatile market environment for Exxon Mobil.