Redwood Investment Management LLC acquired a new position in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 14,261 shares of the oil and gas company’s stock, valued at approximately $1,950,000.
Other hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its position in shares of ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock valued at $83,525,000 after purchasing an additional 37,666 shares during the period. Charles Schwab Trust Co increased its position in ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock worth $16,710,000 after buying an additional 97,424 shares during the period. CV Advisors LLC lifted its stake in ExxonMobil by 126.7% in the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock valued at $1,584,000 after buying an additional 6,478 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in ExxonMobil by 2.3% in the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock valued at $126,166,000 after buying an additional 23,668 shares during the last quarter. Finally, Midwest Trust Co boosted its holdings in shares of ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock valued at $120,623,000 after acquiring an additional 26,411 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.
Key Stories Impacting ExxonMobil
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Permian growth supports production outlook. ExxonMobil’s Permian Basin output reached a record, while planned expansion and greater drilling automation could provide an important source of upstream volume growth. Can ExxonMobil’s Permian Growth Keep Driving Upstream Momentum?
- Positive Sentiment: Analysts and stock roundups remain constructive. Recent commentary describes XOM as better positioned than some peers and highlights potential upside from strong oil prices, its integrated business, and comparatively attractive valuation. Morgan Stanley also sees a possibility that the shares eventually surpass their record high. Morgan Stanley Sees ExxonMobil Breaking its Record High
- Positive Sentiment: Potential strategic opportunities. Reports that ExxonMobil may be interested in assets associated with Shell’s potential U.S. and chemicals divestitures could create acquisition or portfolio-optimization opportunities, although no transaction has been confirmed. Reports: Shell considers sales of US HQ and chemicals arm
- Neutral Sentiment: Dividend remains dependable but growth is moderating. ExxonMobil has raised its dividend for 43 consecutive years, with a current quarterly payout of $1.03 per share. However, recent increases of roughly 3% to 4.5% are substantially smaller than historical hikes, limiting income-growth appeal. ExxonMobil Dividend Growth Article
- Negative Sentiment: Lower oil prices are the immediate pressure. The market is treating new sanctions and Hormuz developments as negotiating leverage rather than an imminent supply threat. That weakens crude prices and raises concern that energy shares may give back part of their geopolitical gains. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
Wall Street Analyst Weigh In
Get Our Latest Report on ExxonMobil
ExxonMobil Trading Down 1.5%
Shares of XOM stock opened at $158.18 on Thursday. The business’s fifty day moving average price is $149.77 and its 200 day moving average price is $151.79. The firm has a market capitalization of $655.65 billion, a PE ratio of 20.36, a P/E/G ratio of 0.63 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. ExxonMobil Corporation has a 1-year low of $108.35 and a 1-year high of $176.41.
ExxonMobil (NYSE:XOM – Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion for 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 in the previous year, the business posted $1.64 earnings per share. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.
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 paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is presently 53.02%.
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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