Shares of Exxon Mobil Corp XOM,
Pre-sale trades fell 2.3% on Friday, setting them on track for their first decline in 10 sessions, after the Wall Street Journal reported that the Securities and Exchange Commission has launched an investigation into allegations that the oil giant’s employee was overreacting to a key value. Permian Basin Property. Referring to those familiar with the case, the WSJ report said that a number of people involved in valuing the fund complained that they were being subjected to unsubstantiated assumptions. reasonable use of how quickly the company could drain wells in the Permian Lake to obtain higher value. At least one employee as fired was fired last year, the WSJ report said. Exxon Mobil stock had risen 22.1% amid a 9-day win streak, to close Thursday at a 7-month high. It has risen 46.0% over the past three months through Thursday, while the SPDR Energy Select Sector ETF XLE,
on an advanced 44.0% and the S&P 500 SPX,
has gained 9.0%.