Park Place Capital Corp boosted its position in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 67.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,757 shares of the oil and gas company’s stock after purchasing an additional 3,945 shares during the quarter. Park Place Capital Corp’s holdings in ExxonMobil were worth $1,334,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of XOM. Bank of America Corp DE increased its position in ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after buying an additional 1,457,560 shares in the last quarter. Norges Bank acquired a new stake in shares of ExxonMobil during the fourth quarter valued at $7,625,063,000. Bank of New York Mellon Corp boosted its stake in shares of ExxonMobil by 1.2% during 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 position in ExxonMobil by 1.0% during the 3rd 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. raised its stake in 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 purchasing an additional 293,446 shares during 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 a number of recent research reports. Sanford C. Bernstein reduced their target price on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. Piper Sandler started coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They set a “neutral” rating and a $158.00 price objective on the stock. DZ Bank lowered shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 target price on the stock. in a research report on Tuesday, August 4th. Finally, Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil has a consensus rating of “Hold” and a consensus price target of $166.10.
ExxonMobil Price Performance
ExxonMobil stock opened at $163.90 on Tuesday. ExxonMobil Corporation has a 1 year low of $108.35 and a 1 year high of $176.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a 50 day moving average price of $149.04 and a 200 day moving average price of $151.61. The company has a market cap of $679.35 billion, a price-to-earnings ratio of 21.09, a PEG ratio of 0.65 and a beta of 0.17.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter last year, the business earned $1.64 EPS. Sell-side analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current year.
ExxonMobil Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be given a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. ExxonMobil’s dividend payout ratio is presently 53.02%.
ExxonMobil News Summary
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Exxon is expanding automated drilling across its Permian Basin operations and reportedly aims to automate about half of its rig fleet by 2028. The technology could improve safety, drilling efficiency and production growth while lowering operating costs. Focus: Exxon turns to automated drilling in the Permian in push for higher oil output
- Positive Sentiment: Exxon’s Guyana expansion remains a significant future cash-flow driver, with a new floating production, storage and offloading vessel nearing startup and additional long-term production growth expected. Is Guyana Becoming an Even Bigger Cash Flow Engine for ExxonMobil?
- Positive Sentiment: Exxon is reportedly considering an acquisition of some or all of Shell’s U.S. chemical assets, potentially valued at up to $8 billion. The deal could expand Exxon’s chemicals platform and create synergies, although no transaction has been announced. Shell draws interest from bidders including Exxon for $8 billion US chemical assets
- Neutral Sentiment: Exxon continues to develop its Proxxima materials business, including an approved expansion. The initiative adds a potential specialty-products growth avenue, but its financial contribution is still uncertain. ExxonMobil Just Approved an Expansion of a Material Most Investors Have Never Heard Of
- Negative Sentiment: Exxon temporarily halted crude offloading and operations at Guyana’s Liza Unity facility after a small fire aboard the floating vessel. The incident was reportedly limited, but investors may be concerned about near-term production disruption and operational risk. ExxonMobil temporarily halts operations at Guyana site after fire
- Negative Sentiment: Energy shares moved lower broadly during Monday’s session, creating sector-wide pressure on XOM independent of company-specific developments. Sector Update: Energy Stocks Decline Monday Afternoon
- Negative Sentiment: A potential Shell chemicals acquisition could require substantial capital and expose Exxon to weaker chemicals-market conditions, making the rumored deal a source of execution and valuation risk.
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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