AustralianSuper Pty Ltd lifted its position in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 29.0% in the fourth quarter, HoldingsChannel reports. The fund owned 228,154 shares of the oil and gas company’s stock after buying an additional 51,282 shares during the period. AustralianSuper Pty Ltd’s holdings in ExxonMobil were worth $27,456,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in XOM. Midwest Capital Advisors LLC acquired a new position in ExxonMobil during the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its position in ExxonMobil by 456.1% during 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 period. Key Capital Management INC bought a new position in ExxonMobil in the fourth quarter valued at approximately $28,000. Westfuller Advisors LLC bought a new position in ExxonMobil in the third quarter valued at approximately $30,000. Finally, Nvest Wealth Strategies Inc. bought a new position in ExxonMobil in the fourth quarter valued at approximately $32,000. Institutional investors own 61.80% of the company’s stock.
More ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil’s Energy Business?
- Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
- Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana’s Canje block after four-year absence
- Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
- Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals
Insider Transactions at ExxonMobil
ExxonMobil Trading Up 3.2%
Shares of NYSE XOM opened at $157.72 on Friday. The company’s fifty day moving average is $155.05 and its 200-day moving average is $137.45. The stock has a market cap of $653.72 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 0.67 and a beta of 0.19. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. 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 (NYSE:XOM – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.76 earnings per share. Equities research analysts predict that ExxonMobil Corporation will post 11.5 EPS for the current year.
ExxonMobil Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s payout ratio is presently 69.48%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on XOM. Scotiabank raised their price objective on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Citigroup raised their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, April 2nd. Sanford C. Bernstein decreased their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday. Morgan Stanley decreased 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. Finally, Wells Fargo & Company lifted their price objective on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, ExxonMobil currently has an average rating of “Moderate Buy” and a consensus price target of $163.95.
Check Out Our Latest Research Report on XOM
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.
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