Exxon Mobil Corporation has five 2-for-1 stock splits in its history, with the first recorded in 1976 and the most recent in 2001. The company also split its stock in 1981, 1987 and 1997. The first four splits occurred when the company was known as Exxon, before the Mobil merger.
When a stock splits, its investors are issued new shares, but the total value of their shares remains the same. After a 2-for-1 split, investors own twice as many shares as before the split, but each share is worth half as much. An investor who owned 100 shares of Exxon before 1976 and held onto his shares would have owned 3,200 shares of Exxon Mobil by 2001.
Before merging with Exxon, Mobil Corporation had five 2-for-1 stock splits in its history, with splits recorded in 1966, 1979, 1981 and 1997. Mobil and Exxon shares were all converted to Exxon Mobil shares when the companies merged on Dec. 1, 1999.
Companies typically split their stock to keep the share price in a reasonable range to attract investors. Exxon and Exxon Mobil pursued this strategy several times because it has typically been a profitable and well-performing move over the past few decades. If Exxon and Exxon Mobil had never split their stock, each share would cost over $2,000 as of 2015. Such a high price would discourage or prevent some ordinary investors from purchasing shares.