Pzena Investment Management LLC Reduces Stock Position in ExxonMobil Corporation $XOM

Pzena Investment Management LLC decreased its position in ExxonMobil Corporation (NYSE:XOM) by 6.6% in the 1st quarter, HoldingsChannel reports. The firm owned 617,144 shares of the oil and gas company’s stock after selling 43,595 shares during the period. Pzena Investment Management LLC’s holdings in ExxonMobil were worth $104,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Capital Management LLC lifted its stake in shares of ExxonMobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 376 shares during the period. Caxton Associates LLP purchased a new stake in ExxonMobil in the 1st quarter worth approximately $305,000. Sivia Capital Partners LLC raised its holdings in ExxonMobil by 1.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock valued at $1,211,000 after acquiring an additional 207 shares during the last quarter. United Bank raised its holdings in ExxonMobil by 2.8% in the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock valued at $2,352,000 after acquiring an additional 600 shares during the last quarter. Finally, Schnieders Capital Management LLC. lifted its stake in shares of ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after purchasing an additional 5,443 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XOM has been the topic of several analyst reports. Piper Sandler decreased their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a research report on Tuesday, May 5th. Weiss Ratings cut ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Sanford C. Bernstein lowered their price target on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.70.

ExxonMobil Stock Up 2.9%

Shares of NYSE XOM traded up $3.92 on Tuesday, hitting $140.35. The company had a trading volume of 1,259,326 shares, compared to its average volume of 20,213,465. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The firm has a market capitalization of $581.76 billion, a P/E ratio of 23.65, a PEG ratio of 0.58 and a beta of 0.17. The business has a 50 day moving average of $147.37 and a two-hundred day moving average of $144.79.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.76 EPS. As a group, equities research analysts forecast that ExxonMobil Corporation will post 11.9 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

ExxonMobil Company Profile

ExxonMobil Corporation (NYSE: XOM) is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.