Braun Stacey Associates Inc. decreased its stake in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 1.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 373,813 shares of the oil and gas company’s stock after selling 5,759 shares during the period. ExxonMobil accounts for about 1.4% of Braun Stacey Associates Inc.’s investment portfolio, making the stock its 17th biggest holding. Braun Stacey Associates Inc.’s holdings in ExxonMobil were worth $51,108,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil during the fourth quarter valued at about $26,000. E Fund Management Hong Kong Co. Ltd. increased its position in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 187 shares in the last quarter. Aventus Investment Advisors Inc. bought a new stake in ExxonMobil in the 2nd quarter valued at about $27,000. Keewaydin Investments LLC acquired a new position in ExxonMobil during the 4th quarter worth approximately $33,000. Finally, Portus Wealth Advisors LLC acquired a new position in ExxonMobil during the 1st quarter worth approximately $36,000. Institutional investors own 61.80% of the company’s stock.
ExxonMobil Stock Up 0.3%
XOM stock opened at $156.88 on Friday. The stock has a market cap of $650.26 billion, a P/E ratio of 20.19, a P/E/G ratio of 0.62 and a beta of 0.17. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $150.53 and its two-hundred day simple moving average is $151.87. ExxonMobil Corporation has a 1-year low of $108.35 and a 1-year high of $176.41.
ExxonMobil Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.
Analysts Set New Price Targets
A number of brokerages have commented on XOM. TD Cowen raised their price objective on ExxonMobil from $155.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Bank of America lowered ExxonMobil from a “buy” rating to a “neutral” rating and upped their target price for the stock from $154.00 to $158.00 in a research report on Tuesday, July 28th. Mizuho cut their target price on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Zacks Research lowered shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $166.10.
Get Our Latest Research Report on ExxonMobil
More ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
- Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
- Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
- Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
- Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
- Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
- Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data
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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