A new activist takes on Exxon to reverse the oil giant’s underperformance

A new activist takes on Exxon to reverse the oil giant’s underperformance

Fuel prices are displayed at an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020.Andrew Harrer | Bloomberg | Getty ImagesCompany: Exxon Mobil Corp. (XOM)Business: Engaged in the exploration, production, transportation and sale of crude oil and natural gas, and the manufacture, transportation and sale of petroleum products. Exxon also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics, and a range of specialty products. The company's segments include upstream, downstream, chemical, and corporate and financing. The upstream segment operates to explore for and produce crude oil and natural gas. The downstream operates to manufacture and sell petroleum products. The chemical segment operates to manufacture and sell petrochemicals. The company has exploration and development activities in projects located in the United States, Canada/South America, Europe, Africa, Asia and Australia/Oceania.Stock Market Value: $202.5 billion ($47.89 per share)Activist: Engine No. 1Percentage Ownership: 0.02%Average Cost: n/aActivist Commentary: Engine No. 1 is a new investment firm founded by Chris James, founder of Partner Fund Management and co-founder of Andor Capital Management and Charlie Penner, former partner at JANA Partners. Their mandate is to create long-term value by driving positive impact through active ownership. This is EN1's first