Readystate Asset Management LP Invests $29.77 Million in ExxonMobil Corporation $XOM

Readystate Asset Management LP acquired a new stake in ExxonMobil Corporation (NYSE:XOM) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 217,778 shares of the oil and gas company’s stock, valued at approximately $29,775,000. ExxonMobil makes up about 1.0% of Readystate Asset Management LP’s holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in XOM. Avant Capital LLC grew its stake in shares of ExxonMobil by 0.6% during the second quarter. Avant Capital LLC now owns 11,182 shares of the oil and gas company’s stock worth $1,529,000 after buying an additional 65 shares during the last quarter. Impact Partnership Wealth LLC increased its holdings in ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance boosted its position in shares of ExxonMobil by 1.9% during the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after purchasing an additional 68 shares in the last quarter. Core Wealth Advisors Inc. boosted its holdings in ExxonMobil by 1.0% in the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 68 shares in the last quarter. Finally, ICW Investment Advisors LLC increased its holdings in shares of ExxonMobil by 0.3% during the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock valued at $3,043,000 after acquiring an additional 69 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

ExxonMobil Stock Performance

NYSE:XOM opened at $159.53 on Monday. The business’s fifty day moving average is $152.97 and its 200 day moving average is $152.28. The firm has a market cap of $661.24 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.97 and a beta of 0.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41.

ExxonMobil (NYSE:XOM) last issued its earnings results 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). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter in the prior year, the business earned $1.64 EPS. Research analysts predict that ExxonMobil Corporation will post 11.98 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil’s dividend payout ratio is 53.02%.

Analyst Ratings Changes

A number of brokerages recently issued reports on XOM. Wall Street Zen upgraded ExxonMobil to a “hold” rating in a report on Saturday. Piper Sandler lifted their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. Freedom Capital raised shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, ExxonMobil presently has an average rating of “Hold” and an average target price of $167.45.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices and tighter refining capacity could support near-term earnings. Growth from Guyana and the Permian Basin strengthens ExxonMobil’s production outlook. Can ExxonMobil Benefit From the Current Energy Market Tightness?
• Positive Sentiment: ExxonMobil’s dividend remains a key attraction. The company appears positioned for a 44th consecutive annual payout increase, while second-quarter free cash flow exceeded dividend payments by nearly $13 billion. Management has also indicated that free cash flow could potentially double by 2030. 2 Energy Dividend Stocks With Growing Payouts, Led by ExxonMobil
• Positive Sentiment: Recent investment commentary continues to identify XOM as an attractive value and high-yield income stock, which may support demand from long-term and dividend-focused investors. 2 High-Yield Dividend Stocks Worth Buying Right Now
• Neutral Sentiment: The bullish outlook depends heavily on sustained oil prices and refining tightness. ExxonMobil’s latest reported quarter included earnings per share below consensus, although revenue exceeded expectations.
• Negative Sentiment: ExxonMobil was reportedly excluded from a White House meeting with major oil executives focused on gasoline prices, refinery capacity and retail fuel costs. The exclusion was linked to prior political friction over potential investments in Venezuela, creating concerns about regulatory access and political relations. ExxonMobil Was Excluded From a White House Oil Meeting
• Negative Sentiment: A sharp decline in crude prices remains the primary risk to ExxonMobil’s cash flow, earnings and dividend coverage despite its current financial strength. Exxon’s Dividend Looks Safe Today—but What If Oil Prices Tumble?

ExxonMobil 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.