Mutual of America Capital Management LLC decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 452,748 shares of the oil and gas company’s stock after selling 9,293 shares during the quarter. ExxonMobil accounts for approximately 0.6% of Mutual of America Capital Management LLC’s holdings, making the stock its 16th biggest position. Mutual of America Capital Management LLC’s holdings in ExxonMobil were worth $54,484,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in ExxonMobil in the fourth quarter valued at about $7,625,063,000. Northern Trust Corp grew its stake in 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 valued at $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Franklin Resources Inc. grew its stake in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after purchasing an additional 2,660,910 shares in the last quarter. Capital Research Global Investors grew its stake in ExxonMobil by 0.4% in the third quarter. Capital Research Global Investors now owns 33,620,927 shares of the oil and gas company’s stock valued at $3,790,773,000 after purchasing an additional 127,466 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in ExxonMobil by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 31,497,852 shares of the oil and gas company’s stock valued at $3,790,452,000 after purchasing an additional 303,359 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.
Insider Transactions at ExxonMobil
In related news, VP Darrin L. Talley sold 1,080 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the transaction, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by corporate insiders.
ExxonMobil Trading Up 2.5%
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, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the company posted $1.76 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current year.
ExxonMobil Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, May 15th. ExxonMobil’s payout ratio is currently 69.48%.
Analyst Ratings Changes
A number of research analysts have commented on the company. HSBC boosted their target price on ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research note on Friday, March 20th. Piper Sandler lowered their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Scotiabank boosted their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their target price on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $165.55.
Check Out Our Latest Report on ExxonMobil
More ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: ExxonMobil has reportedly been in talks to regain oil production rights in Venezuela, which could expand its reserve base and long-term production potential. Exxon Mobil Weighs Venezuela Return And Valuation Upside For Investors
- Positive Sentiment: Analysts turned more bullish on ExxonMobil, including a higher price target from Mizuho, reinforcing expectations that the company can benefit from strong energy markets. Analysts Get Bullish on Exxon Mobil (XOM)
- Neutral Sentiment: Commentary about ExxonMobil being a top oil stock amid the U.S.-Iran conflict supports the broader bullish case, but it is mostly opinion-driven rather than new company-specific news. This is why Exxon Mobil Corporation (XOM) is the Best Oil Stock to Buy amid the US-Iran War
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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