Eventide Asset Management LLC lowered its holdings in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 8.8% in the 4th quarter, HoldingsChannel reports. The firm owned 62,304 shares of the oil and gas company’s stock after selling 5,993 shares during the period. Eventide Asset Management LLC’s holdings in ExxonMobil were worth $7,538,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC acquired a new stake in ExxonMobil during the fourth quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil during the fourth quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 187 shares during the period. Key Capital Management INC acquired a new stake in ExxonMobil during the fourth quarter worth approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in ExxonMobil during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 61.80% of the company’s stock.
ExxonMobil Stock Down 0.1%
Shares of NYSE:XOM opened at $146.80 on Monday. The business’s 50 day simple moving average is $152.09 and its two-hundred day simple moving average is $142.55. The firm has a market cap of $608.47 billion, a P/E ratio of 24.76, a PEG ratio of 0.62 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41.
ExxonMobil Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.
Key Stories Impacting ExxonMobil
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
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on XOM shares. JPMorgan Chase & Co. raised their target price on ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Mizuho raised their target price on ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Wells Fargo & Company raised their target price on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, UBS Group increased their price target on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $165.55.
Get Our Latest Report on ExxonMobil
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.
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