Another Exxon Mobil Executive Makes a $1 Million Stock Buy - Barron's

Exxon Mobil’s Andrew Swiger bought shares of the embattled oil giant on Thursday,.

Photograph by AFP/Getty Images

For the second time this week, an Exxon Mobil executive has bought $1 million of the embattled energy giant’s stock on the open market.

Senior Vice President and Principal Financial Officer Andrew Swiger paid $1 million on Thursday for 30,000 Exxon Mobil shares (ticker: XOM), an average price per share of $33.80. According to a form Swiger filed with the Securities and Exchange Commission, he now owns 1.2 million shares in a personal account, and 21,053 shares through a savings plan.

It is his first purchase of Exxon Mobil stock since he began reporting transactions as a vice president in 2006.

Exxon Mobil didn’t immediately respond to a request to make Swiger available for comment.

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Swiger’s $1 million stock purchase follows one made by Neil Duffin, president of a unit called Exxon Mobil Global Projects Co., who bought Exxon Mobil stock on Wednesday. Like Duffin, Swiger first joined Exxon Mobil’s predecessor company Exxon in 1978.

Exxon Mobil stock and oil prices had slipped to their lowest in nearly two decades this week, but on Thursday, both rebounded. Exxon Mobil shares climbed nearly 4% to $34.43. The Dow Jones Industrial Average rose 1%.

Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin.

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https://www.barrons.com/articles/exxon-mobil-executive-makes-a-1-million-stock-buy-51584650636

2020-03-20 12:30:00Z
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