Lord Abbett & CO. LLC Sells 151,550 Shares of ExxonMobil Corporation $XOM

Lord Abbett & CO. LLC trimmed its holdings in ExxonMobil Corporation (NYSE:XOM) by 5.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,776,164 shares of the oil and gas company’s stock after selling 151,550 shares during the quarter. ExxonMobil makes up approximately 1.0% of Lord Abbett & CO. LLC’s holdings, making the stock its 16th biggest position. Lord Abbett & CO. LLC’s holdings in ExxonMobil were worth $334,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC bought a new position in ExxonMobil in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC bought a new position in ExxonMobil in the 4th quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 187 shares during the period. Key Capital Management INC bought a new position in ExxonMobil in the 4th quarter worth approximately $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in ExxonMobil in the 4th quarter worth approximately $32,000. 61.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on XOM. Scotiabank increased their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group increased their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Mizuho increased their target price on ExxonMobil from $159.00 to $175.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Bank of America increased their target price on ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a research report on Monday, March 2nd. Finally, Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $165.55.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by corporate insiders.

ExxonMobil Stock Up 0.1%

NYSE XOM opened at $146.80 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a market capitalization of $608.47 billion, a P/E ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41. The stock has a 50 day moving average price of $152.09 and a 200-day moving average price of $142.36.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion during 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%.ExxonMobil’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. As a group, equities analysts predict that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

About ExxonMobil

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.