A number of other institutional investors have also made changes to their positions in XOM.

Source: https://www.etfdailynews.com/2023/04/12/baker-tilly-wealth-management-llc-acquires-4041-shares-of-exxon-mobil-co-nysexom/

Both XOM and the energy sector face many risks ranging from environmental concerns, lawsuits, government policies, et al.

Source: https://seekingalpha.com/article/4604935-exxon-mobil-75-oil-wont-last?source=feed_all_articles

Currently, if I had investable cash, I'd likely purchase more XOM and add mining stocks as E.V.'s & electrication, via wind & solar, requires gross amounts of metals.

Source: https://seekingalpha.com/article/4632144-2-percent-growth-and-2-percent-inflation-the-feds-done?source=feed_all_articles

CVX is my other core holding withh a better dividend profile than XOM and avoidance of high priced deals like XTO.

Source: https://seekingalpha.com/article/4639575-pioneer-resources-deal-killing-arguments?source=feed_all_articles

Do you know how many BILLIONS XOM has invested?

Source: https://seekingalpha.com/article/4628198-exxonmobil-strong-sell-ahead-of-last-oil-age?source=feed_all_articles

I have sold covered calls on my XOM, CVX, VLO, and OKE expecting the price to normalize lower into the $65 dollar range.

Source: https://seekingalpha.com/article/4615919-opec-expansion-talk-ignore-noise-focus-saudi-arabia-russia?source=feed_all_articles

I think CVX is the better buy now, especially since it said it would raise its dividend to $1.63 from $1.51 and would have a much higher yield than XOM.

Source: https://seekingalpha.com/article/4644754-exxon-mobil-why-this-dividend-zombie-deserves-a-look?source=feed_all_articles

On the date of publication, Louis Navellier had a long position in XOM, UNH, V and ABBV.

Source: https://investorplace.com/market360/2023/02/7-mega-cap-stocks-to-buy-for-the-long-haul/

Over the past year, XOM has gained 53%.

Source: https://investorplace.com/2023/02/3-top-energy-stocks-with-impressive-upside-potential-in-2023/

Several other institutional investors have also added to or reduced their stakes in XOM.

Source: https://www.etfdailynews.com/2023/04/07/darrow-company-inc-sells-2504-shares-of-exxon-mobil-co-nysexom/

Several other institutional investors have also recently added to or reduced their stakes in XOM.

Source: https://www.etfdailynews.com/2023/01/06/exxon-mobil-co-nysexom-stake-increased-by-amarillo-national-bank/

So even if the prices are not fully baked in as you put it, right now there is a lot of optimism about prices and XOM is one of the few that is growing production.

Source: https://seekingalpha.com/article/4637716-exxon-mobil-big-market-changes?source=feed_all_articles

That makes the XOM decision here so unusual.

Source: https://seekingalpha.com/article/4642671-hess-corporation-buyout-chevron-going-for-gold?source=feed_all_articles