Welch Group LLC decreased its stake in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 524,383 shares of the oil and gas company’s stock after selling 23,963 shares during the period. ExxonMobil accounts for about 3.3% of Welch Group LLC’s portfolio, making the stock its 4th largest holding. Welch Group LLC’s holdings in ExxonMobil were worth $88,967,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of 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 acquiring an additional 1,457,560 shares during the period. Norges Bank acquired a new position in shares of ExxonMobil in the fourth quarter valued at approximately $7,625,063,000. Bank of New York Mellon Corp increased 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 worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp lifted its holdings 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 during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in ExxonMobil by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after purchasing an additional 2,660,910 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on XOM shares. Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Bank of America raised shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 target price for the company in a research report on Tuesday, June 16th. Scotiabank upped their price target 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. Piper Sandler lowered their price target on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, HSBC lifted their price objective on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Friday, March 20th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $165.55.
ExxonMobil Price Performance
ExxonMobil stock opened at $136.14 on Tuesday. The firm has a market cap of $564.28 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 0.58 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The stock’s fifty day moving average price is $148.28 and its two-hundred day moving average price is $144.29. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41.
ExxonMobil (NYSE:XOM – Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.76 EPS. As a group, research analysts expect that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.
ExxonMobil Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is 69.48%.
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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