Kovitz Investment Group Partners LLC Has $10.57 Million Stake in ExxonMobil Corporation $XOM

Kovitz Investment Group Partners LLC cut its position in shares of ExxonMobil Corporation (NYSE:XOM) by 82.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,809 shares of the oil and gas company’s stock after selling 418,508 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in ExxonMobil were worth $10,567,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Berbice Capital Management LLC bought a new stake in ExxonMobil in the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil in the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 187 shares in the last quarter. Key Capital Management INC bought a new stake in ExxonMobil in the fourth quarter valued at $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of ExxonMobil during the 4th quarter worth about $32,000. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Down 2.1%

XOM stock opened at $137.84 on Friday. The firm has a market capitalization of $571.36 billion, a PE ratio of 23.25, a P/E/G ratio of 0.60 and a beta of 0.16. 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 twelve month low of $105.53 and a twelve month high of $176.41. The stock’s 50 day moving average is $150.34 and its 200-day moving average is $143.26.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 earnings per share. Sell-side analysts expect that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is currently 69.48%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil advanced a major new exploration push in Guyana’s Stabroek Block, planning up to 35 additional wells from 2028 through 2033, which could add long-term production growth. Article Title
• Positive Sentiment: The company signed a preliminary deal to supply LNG to South Africa’s first planned import terminal, expanding its international gas footprint and supporting its LNG growth strategy. Article Title
• Positive Sentiment: Analysts continue to view ExxonMobil as relatively resilient versus the broader oil market because of its low-cost, diversified production base. Article Title

Analysts Set New Price Targets

A number of equities research analysts have commented on XOM shares. Morgan Stanley reduced their price objective on ExxonMobil from $172.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Mizuho increased their target price on ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Royal Bank Of Canada restated a “sector perform” rating and set a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Wolfe Research downgraded shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Finally, Piper Sandler reduced their price objective on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, ExxonMobil presently has a consensus rating of “Moderate Buy” and an average price target of $165.70.

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.