ExxonMobil sees mixed institutional stake moves in Q1

Pine Valley Investments Ltd Liability Co reduced its holding in ExxonMobil Corp by 8.2% in the first quarter, selling 11,644 shares and ending the period with 129,898 shares valued at about $22 million. In contrast, Rathbones Group PLC increased its stake by 20.1%, buying 179,782 shares to hold 1,075,915 shares worth roughly $182.5 million.

Institutional investors now own about 61.8% of ExxonMobil’s stock. The company reported its strongest quarterly profit in four years, posting adjusted earnings of $3.52 per share and net income of $14.53 billion for the second quarter, driven by higher crude prices and refining margins amid Middle East tensions.