Strs Ohio Sells 31,217 Shares of Exxon Mobil Co. (NYSE:XOM)

Strs Ohio, the State Teachers Retirement System of Ohio, reduced its stake in ExxonMobil Corporation (NYSE: XOM) by selling off 31,217 shares of the oil and gas company's stock during the fourth quarter of 2020. This sale represented a 1.4% decrease in Strs Ohio's overall holding in ExxonMobil.

As of the fourth quarter, Strs Ohio held a total of 2,191,577 shares of ExxonMobil stock, according to Holdings Channel, a financial data provider. The institutional investor's ownership of ExxonMobil accounted for approximately 0.9% of Strs Ohio's investment portfolio.

ExxonMobil is one of the world's largest publicly traded international oil and gas companies, with a diverse portfolio that includes exploration and production, refining and marketing, and chemical manufacturing. The company's stock has faced challenges in recent years due to declining oil prices and increasing competition, as well as investor concerns over the company's response to climate change and the transition to renewable energy sources.

Despite the sale of shares, Strs Ohio continues to maintain a significant position in ExxonMobil's stock. The decision to sell may have been influenced by various factors, including the investor's overall investment strategy, market conditions, or the company's performance. However, without access to the investor's internal records and communications, it is impossible to determine the exact reason for the sale.

In summary, Strs Ohio sold 31,217 shares of ExxonMobil stock during the fourth quarter of 2020, reducing its holding by 1.4%. The institutional investor still holds a substantial stake in the company, representing approximately 0.9% of its investment portfolio. The reasons for the sale remain unclear but may be related to market conditions, the company's performance, or the investor's overall investment strategy.