ExxonMobil Corporation $XOM Shares Acquired by Eastern Bank

Eastern Bank boosted its holdings in ExxonMobil Corporation (NYSE:XOM) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 718,188 shares of the oil and gas company’s stock after purchasing an additional 23,948 shares during the quarter. ExxonMobil comprises 1.5% of Eastern Bank’s investment portfolio, making the stock its 18th largest holding. Eastern Bank’s holdings in ExxonMobil were worth $98,191,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of XOM. Berbice Capital Management LLC acquired a new stake in shares of ExxonMobil during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC purchased a new stake in ExxonMobil during the 4th quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of 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 valued at $27,000 after purchasing an additional 187 shares during the last quarter. Key Capital Management INC acquired a new position in shares of ExxonMobil in the fourth quarter valued at approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil during the fourth quarter worth $32,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XOM. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Jefferies Financial Group raised their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. HSBC set a $158.00 target price on shares of ExxonMobil in a report on Monday. Wells Fargo & Company reiterated an “overweight” rating and set a $182.00 price target on shares of ExxonMobil in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.30.

ExxonMobil Stock Performance

NYSE:XOM opened at $155.19 on Tuesday. The firm’s fifty day simple moving average is $145.67 and its 200-day simple moving average is $148.98. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a market cap of $643.24 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 0.64 and a beta of 0.17. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The company had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter last year, the business earned $1.64 EPS. Analysts expect that ExxonMobil Corporation will post 11.36 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is presently 53.02%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil reportedly generated approximately $14.5 billion in second-quarter profit, while upstream production reached its highest level in more than 20 years. Record Permian output and solid refining performance reinforce the company’s operational momentum. ExxonMobil Posts US$14.5 Billion Q2 Profit As Production Hits 20 Year High
• Positive Sentiment: Higher crude prices, driven partly by disrupted petroleum shipments during the US-Iran conflict, boosted industry profitability and provided a favorable backdrop for ExxonMobil’s upstream business. Major Oil Companies Reap Profits As US-Iran Fighting Drives Energy Prices Higher
• Positive Sentiment: Investors continue to view ExxonMobil as a capital-return candidate because of strong free cash flow, disciplined spending and a long record of reliable dividend payments. ExxonMobil: A Capital Return Play Amid Soaring FCF
• Neutral Sentiment: Although headline earnings were strong, ExxonMobil’s reported quarterly EPS of $3.52 was slightly below the $3.56 consensus estimate. Revenue exceeded expectations, making the detailed operating metrics and outlook important for judging the durability of the results. Exxon Reports Q2 Earnings: What Key Metrics Have to Say
• Negative Sentiment: President Trump criticized ExxonMobil and Chevron for earning “too much money” from elevated oil prices. The comments raise concerns about possible political pressure, windfall-profit measures or other actions that could affect industry margins. Trump Says Exxon and Chevron Made Too Much Money Off High Oil Prices

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.