TEXAS — ExxonMobil officially moved its legal home from New Jersey to Texas on July 1, 2026. The company's corporate name changed to ExxonMobil Holdings Corp. on the same date.

Shareholders of ExxonMobil approved the relocation of the company's legal home to Texas. Darren Woods, Chairman and CEO of ExxonMobil, commented on the move. "The move aligns the company's legal home with its operating base, in a state that understands our business and has a stake in the company's success," Woods said.

Texas does not charge a corporate income tax. In contrast, New Jersey's top corporate income tax rate is 11.5%. ExxonMobil shares continue to trade under the ticker symbol XOM on the New York Stock Exchange. The company closed at $136.28 per share on July 1, 2026, with a market capitalization near $565 billion.

ExxonMobil reported a debt-to-equity ratio of 0.19x as of July 2026. At that time, its dividend yield was 3% with a quarterly dividend of $1.03 per share. The company has increased its dividend annually for more than four decades. West Texas Intermediate crude oil fell to around $69 per barrel in late June 2026. ExxonMobil has a $20 billion share buyback program for 2026.

Why It Matters

The move of ExxonMobil's legal domicile from New Jersey to Texas centralizes the company's legal and operational structures in a state that does not levy a corporate income tax. This change follows shareholder approval and aligns the company with a long-standing pattern of operations in Texas. The continued trading of its shares on the New York Stock Exchange under the existing ticker symbol indicates that the change is primarily administrative while maintaining public market presence.