According to Zhitong Finance APP, since three dissidents were elected on May 26...ExxonMobilSince joining the board of directors of (XOM.US), the company's stock price has risen by approximately 7%, in line with and outperforming the overall energy sector.ChevronOil giants such as CVX.US and Shell Oil Company (RDS.A.US).JPMorgan ChaseAnalyst Phil Gresh believes that ExxonMobil will continue to maintain its core asset base and keep its Dividend protection ratio below $50 per barrel of Brent crude oil, repaying debt more quickly and becoming an industry leader in the energy transition. Therefore, Gresh gives it an "overweight" rating with a target price of $76.Gresh expects ExxonMobil to cut its capital expenditures in the coming years and believes that ExxonMobil should set a capital expenditure cap of $20 billion, of which $2 billion will be allocated to energy transition projects, up from the current approximately $600 million. Gresh stated that ExxonMobil could sell more inefficient assets, as well as several oil refineries, which he believes would "bring multiple benefits," including bringing cash to the balance sheet, simplifying asset structure, and significantly reducing ESG. He believes the company has the potential to become a leader in the field of low-carbon technologies and to apply them on a large scale.
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