Congressman Michael Burgess sells Exxon Mobil and Illumina stocks

In a recent congressional trade report, it has been revealed that Michael C. Burgess, the representative for Texas’s 26th congressional district, has made notable transactions in his portfolio. The report details sales of stocks from Exxon Mobil Corporation (NYSE:) and Illumina, Inc. (NASDAQ:).

On March 11, 2024, Burgess sold Exxon Mobil Corporation Common Stock, valued between $15,001 and $50,000. Exxon Mobil, a multinational oil and gas corporation, is one of the world’s largest publicly traded oil and gas companies.

On the same day, Burgess also made a partial sale of Illumina, Inc. – Common Stock, with the transaction value falling between $1,001 and $15,000. Illumina is a leading company in the field of integrated systems for the analysis of genetic variation and biological function.

The transactions were conducted through Burgess’s personal account. The report does not disclose whether the transactions resulted in capital gains exceeding $200.

As a reminder, members of Congress are legally required to disclose their trades within 45 days to maintain transparency and prevent conflicts of interest. These transactions are part of that disclosure process.

These recent sales provide insight into the financial activities of one of our nation’s representatives. Investors and constituents alike will be keen to monitor the future trading activities of Burgess and other members of Congress.

InvestingPro Insights

Exxon Mobil Corporation (NYSE:XOM), recently sold by Representative Michael C. Burgess, shows robust financial health and investor confidence based on recent data and analysis. With a substantial market capitalization of $484.08 billion, Exxon Mobil stands as a giant in the oil and gas industry. The company’s price-to-earnings (P/E) ratio is currently at 13.7, which is aligned with the adjusted P/E ratio for the last twelve months as of Q4 2023, suggesting that the stock is reasonably valued given its earnings.

One of the most notable InvestingPro Tips for Exxon Mobil is its impressive history of dividend payments, having raised its dividend for 41 consecutive years and maintained payments for 54 consecutive years. This track record underscores the company’s commitment to returning value to shareholders and its ability to sustain such payments through various market cycles. Additionally, the stock has shown a strong return over the last three months, with a price total return of 23.31%, reflecting positive investor sentiment.

For investors seeking more comprehensive insights, there are additional InvestingPro Tips available, including analysts’ upward revisions of earnings and the company’s performance metrics. To explore these further, visit https://www.investing.com/pro/XOM and take advantage of the special offer using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

antaranews

Leave a Comment