Element Squared LLC Takes Position in Exxon Mobil Corporation $XOM

Element Squared LLC initiated a new position in Exxon Mobil Corporation (NYSE:XOM) during the fourth quarter, purchasing 9,370 shares valued at approximately $1.13 million. This comes as several other major institutional investors have also increased their holdings in the oil and gas giant, with institutional investors and hedge funds collectively owning 61.80% of the stock. Despite some positive sentiment from analysts and a new LNG supply deal for Exxon, the consensus analyst rating remains a “Hold” with a modest price target, suggesting upside is highly dependent on sustained high oil prices.