ExxonMobil Corporation $XOM Stake Lowered by Conning Inc.

Conning Inc. decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 258,374 shares of the oil and gas company’s stock after selling 44,899 shares during the quarter. ExxonMobil makes up approximately 1.5% of Conning Inc.’s portfolio, making the stock its 4th biggest position. Conning Inc.’s holdings in ExxonMobil were worth $43,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of ExxonMobil in the 4th quarter valued at $7,625,063,000. Quantum Portfolio Management LLC acquired a new stake in shares of ExxonMobil during the first quarter worth about $965,932,000. Mercer Global Advisors Inc. ADV boosted its position in shares of ExxonMobil by 218.4% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock valued at $155,696,000 after purchasing an additional 2,546,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock worth $1,925,119,000 after buying an additional 2,465,410 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in ExxonMobil by 334.4% in the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock valued at $368,541,000 after buying an additional 2,357,467 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Trading Up 0.4%

Shares of XOM stock opened at $145.04 on Wednesday. The stock has a market cap of $601.18 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17. 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 fifty-two week low of $105.53 and a fifty-two week high of $176.41. The firm’s 50 day moving average price is $145.82 and its two-hundred day moving average price is $145.93.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data 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. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts anticipate that ExxonMobil Corporation will post 11.48 EPS for the current 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 issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the stock a “neutral” rating in a research note on Friday, April 17th. Scotiabank upped their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Finally, Wolfe Research cut ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.45.

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.