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.
Such purchases from top executives in the company give the investors optimism.
On the monthly chart, the stock price is at support level. The price has been heavily discounted over the last 3 months – a drop of over 50% to the lowest levels since 2003.
Junior Trader Radi Djuma