Kensington Investment Counsel LLC increased its holdings in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 222.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 17,548 shares of the oil and gas company’s stock after purchasing an additional 12,107 shares during the period. ExxonMobil makes up 1.4% of Kensington Investment Counsel LLC’s holdings, making the stock its 26th biggest holding. Kensington Investment Counsel LLC’s holdings in ExxonMobil were worth $2,977,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Bank of America Corp DE boosted its stake in shares of ExxonMobil by 2.0% in the 4th 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 during the last quarter. Norges Bank purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp boosted its stake in ExxonMobil by 1.2% in the fourth 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 acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp increased its stake in shares of ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $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
XOM has been the topic of several research reports. Royal Bank Of Canada restated a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. Barclays raised 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. Wells Fargo & Company lifted their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Scotiabank upped 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. Finally, Sanford C. Bernstein lowered their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $163.45.
ExxonMobil Price Performance
XOM stock opened at $156.80 on Thursday. The business’s fifty day moving average price is $145.61 and its 200 day moving average price is $148.32. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The company has a market capitalization of $649.93 billion, a PE ratio of 26.44, a P/E/G ratio of 0.62 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.
ExxonMobil (NYSE:XOM – Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the company earned $1.76 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that ExxonMobil Corporation will post 11.55 EPS for the current year.
Key ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Higher oil prices could support ExxonMobil’s cash flow and profit expectations, particularly ahead of its second-quarter earnings report scheduled for July 31. Analysts and market commentators are looking for stronger results, while the company’s long record of dividend increases and planned $20 billion annual share repurchases remain important shareholder-return advantages. Exxon Mobil Stock Trades Higher Wednesday: What’s Driving the Move?
- Positive Sentiment: ExxonMobil agreed to a carbon-capture and storage project with Williams supporting natural-gas processing in Louisiana. The initiative could strengthen Exxon’s lower-carbon services and strategic relationship with a major midstream operator, although the financial impact is likely longer term. ExxonMobil agrees to new CCS project with Williams
- Neutral Sentiment: ExxonMobil is being highlighted as a favored energy holding in President Donald Trump’s disclosures and as a value stock by Zacks. These references may support investor interest, but they do not change the company’s near-term earnings or valuation.
- Negative Sentiment: Bank of America downgraded XOM from “buy” to “neutral,” citing limited remaining upside despite raising its price target to $158. The downgrade adds pressure after the stock’s strong year-to-date performance and premium valuation. Exxon Mobil Offers Limited Upside Potential
- Negative Sentiment: A hawkish shift from several Federal Reserve officials weighed on the broader market. Higher-for-longer interest rates could limit appetite for richly valued equities, even as energy companies benefit from stronger commodity prices. Stock Market Today, July 29
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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