12:05 PM EDT, 05/29/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Today is XOM's 2024 shareholder meeting, which will include a vote on four resolutions put forward by small activist investors, as well as a vote on re-election of XOM's 12 directors. XOM has recommended re-election on all directors and has also recommended against all four of the shareholder-led resolutions. The resolutions include a request to eliminate greenhouse gas emissions from execution compensation formulas and requests for additional reporting on topics of (1) pay equity, (2) scenario analyses related to reduced plastics demand, and (3) the social impact of energy transition. We do not expect these resolutions to pass, as we note that XOM's long-term performance regarding return on capital employed (almost 10%) is the best among supermajor oil peers. Although some large pension funds have advocated against re-election for 10 of XOM's 12 Board members, we think that view is tied to what we see as XOM's combative approach toward shareholder activism, more so than its operating metrics.