UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,997,332 shares of the oil and gas company’s stock after buying an additional 2,465,410 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in ExxonMobil were worth $1,925,119,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in XOM. Norges Bank bought a new position in shares of ExxonMobil during the fourth quarter valued at $7,625,063,000. Franklin Resources Inc. raised its holdings in shares of ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after buying an additional 2,660,910 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of ExxonMobil by 218.4% in the third 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 buying an additional 2,546,791 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of ExxonMobil by 105.4% in the third quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company’s stock valued at $329,797,000 after buying an additional 1,501,235 shares during the last quarter. Finally, Pinebridge Investments LLC bought a new position in shares of ExxonMobil in the fourth quarter valued at about $138,732,000. 61.80% of the stock is owned by institutional investors.
ExxonMobil Stock Performance
Shares of XOM stock opened at $146.80 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock has a market cap of $608.47 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The stock has a 50-day moving average of $152.09 and a 200-day moving average of $142.36. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41.
ExxonMobil Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. ExxonMobil’s payout ratio is currently 69.48%.
Key ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
- Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
- Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
- Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
- Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
- Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
- Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice
Insider Activity
In related news, VP Darrin L. Talley sold 1,080 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the transaction, the vice president directly owned 17,124 shares in the company, valued at approximately $2,662,782. The trade was a 5.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. TD Cowen cut their price target on ExxonMobil from $175.00 to $172.00 and set a “buy” rating for the company in a report on Friday, April 10th. Sanford C. Bernstein cut their price target on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a report on Tuesday, May 5th. UBS Group lifted their price target on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Scotiabank lifted their price target on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and an average price target of $165.55.
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.
Further Reading
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