Empowered Funds LLC lowered its position in ExxonMobil Corporation (NYSE:XOM – Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,010,670 shares of the oil and gas company’s stock after selling 56,663 shares during the quarter. ExxonMobil accounts for about 1.1% of Empowered Funds LLC’s holdings, making the stock its 7th largest position. Empowered Funds LLC’s holdings in ExxonMobil were worth $171,470,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares in the last quarter. Norges Bank acquired a new stake in ExxonMobil during the fourth quarter worth $7,625,063,000. Bank of New York Mellon Corp increased its holdings in ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after buying an additional 531,362 shares during the period. Northern Trust Corp increased its holdings in ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after buying an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ExxonMobil by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on XOM shares. Scotiabank raised their price objective on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Piper Sandler assumed coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 target price on the stock. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and increased their price target for the stock from $154.00 to $158.00 in a research report on Tuesday. Citigroup restated a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Finally, Barclays lifted their price objective on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued 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 an average price target of $163.45.
Key Headlines Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: ExxonMobil’s July 31 earnings report could provide a catalyst, with expectations for higher quarterly profit and revenue. Analysts are focused on strong upstream performance and the possibility that elevated oil prices boosted cash generation. Exxon Mobil’s Next Earnings Report Could Send the Stock Soaring
- Positive Sentiment: The company’s long-term shareholder-return profile remains supportive: ExxonMobil has increased its dividend for 43 consecutive years and is pursuing a $20 billion annual share-repurchase program. The Single Biggest Reason to Buy Exxon Mobil Before July 31st
- Neutral Sentiment: Analysts remain moderately optimistic after ExxonMobil outperformed the broader market over the past year, but the stock’s premium valuation could limit new buying ahead of earnings. Are Wall Street Analysts Predicting ExxonMobil Stock Will Climb or Sink?
- Negative Sentiment: Bank of America downgraded XOM from Buy to Neutral, citing limited upside amid geopolitical uncertainty. Although its price target increased to $158, the target implies only modest appreciation from current levels, reducing near-term enthusiasm. Exxon Mobil Offers Limited Upside Potential, BofA Says in Downgrade
- Negative Sentiment: Broad energy-sector weakness is also weighing on ExxonMobil, while easing Middle East tensions have pressured oil prices and reduced expectations for an immediate windfall for producers. Sector Update: Energy Stocks Decline Late Afternoon
ExxonMobil Stock Down 1.0%
Shares of NYSE XOM opened at $153.20 on Wednesday. The stock has a market cap of $635.01 billion, a PE ratio of 25.83, a PEG ratio of 0.63 and a beta of 0.17. The business has a fifty day moving average of $145.60 and a two-hundred day moving average of $148.08. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. 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 (NYSE:XOM – Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts expect that ExxonMobil Corporation will post 11.55 earnings per share for the current fiscal year.
ExxonMobil Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 dividend on an annualized basis and a yield of 2.7%. ExxonMobil’s payout ratio is 69.48%.
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.
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