New Age Alpha Advisors LLC trimmed its position in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,873 shares of the oil and gas company’s stock after selling 14,674 shares during the quarter. ExxonMobil accounts for approximately 0.8% of New Age Alpha Advisors LLC’s investment portfolio, making the stock its 12th biggest position. New Age Alpha Advisors LLC’s holdings in ExxonMobil were worth $18,276,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Franklin Resources Inc. increased its stake in shares of ExxonMobil by 7.4% during the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after buying an additional 2,660,910 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of ExxonMobil by 218.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after buying an additional 2,546,791 shares during the period. AQR Capital Management LLC increased its stake in shares of ExxonMobil by 105.4% during the third quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company’s stock worth $329,797,000 after buying an additional 1,501,235 shares during the period. Bessemer Group Inc. increased its stake in shares of ExxonMobil by 119.4% during the third quarter. Bessemer Group Inc. now owns 2,672,359 shares of the oil and gas company’s stock worth $301,310,000 after buying an additional 1,454,308 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of ExxonMobil by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company’s stock valued at $2,299,687,000 after purchasing an additional 886,087 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.
ExxonMobil Price Performance
Shares of NYSE XOM opened at $154.82 on Monday. 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 Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. The stock has a 50 day moving average of $155.79 and a two-hundred day moving average of $139.12. The stock has a market cap of $641.71 billion, a P/E ratio of 26.11, a P/E/G ratio of 0.68 and a beta of 0.19.
ExxonMobil Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. ExxonMobil’s payout ratio is currently 69.48%.
Insiders Place Their Bets
In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares in the company, valued at approximately $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.
Key Headlines Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
- Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
- Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
- Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil’s Resilience: What Sets it Apart in Uncertain Times
- Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
- Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on XOM. JPMorgan Chase & Co. raised their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Bank of America boosted their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Sanford C. Bernstein lowered their target price 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. Scotiabank boosted their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Loop Capital set a $123.00 target price on shares of ExxonMobil in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.95.
View 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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