Do Hedge Funds Love Exxon Mobil Corporation (XOM)?

Since the beginning of 2015, Exxon’s stock has inched up by 5.60% and investors for the past several months have been watching the company closely as the decline in oil prices sparked fears that big oil companies, such as Exxon, might cut their dividends. However, last week, the company announced plans to cut its capital expenditure by 25% to $23 billion. The reductions will come mainly from oil and gas production, but the company also expects small decreases in capital expenditures from its chemicals business next year.

With the decline in oil prices, the cut in CapEx were received positively by investors, especially since the company also assured that it is going to focus on growing its dividend payments.

Over the last 52 weeks, Exxon’s stock has inched down by just 3%, which shows the stock’s resilience to the more dramatic drop in oil prices.

Now, let’s take a look at the latest action encompassing Exxon Mobil Corporation (NYSE:XOM).