Sigma Planning Corp decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,117 shares of the oil and gas company’s stock after selling 4,705 shares during the period. Sigma Planning Corp’s holdings in ExxonMobil were worth $10,954,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently added to or reduced their stakes in XOM. Alyeska Investment Group L.P. purchased a new stake in ExxonMobil in the 2nd quarter worth $1,505,000. Flputnam Investment Management Co. lifted its holdings in ExxonMobil by 30.5% during the second quarter. Flputnam Investment Management Co. now owns 114,111 shares of the oil and gas company’s stock valued at $15,601,000 after purchasing an additional 26,643 shares in the last quarter. Davidson Investment Advisors grew its position in shares of ExxonMobil by 32.0% in the second quarter. Davidson Investment Advisors now owns 1,601 shares of the oil and gas company’s stock valued at $219,000 after purchasing an additional 388 shares during the period. Cookson Peirce & Co. Inc. grew its position in shares of ExxonMobil by 52.4% in the second quarter. Cookson Peirce & Co. Inc. now owns 16,031 shares of the oil and gas company’s stock valued at $2,192,000 after purchasing an additional 5,513 shares during the period. Finally, Private Management Group Inc. increased its stake in shares of ExxonMobil by 4.9% during the second quarter. Private Management Group Inc. now owns 15,361 shares of the oil and gas company’s stock worth $2,100,000 after purchasing an additional 719 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on XOM shares. Citigroup restated a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. Sanford C. Bernstein cut their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Piper Sandler began coverage on ExxonMobil in a research note on Thursday, July 23rd. They set a “neutral” rating and a $158.00 price objective for the company. Wells Fargo & Company restated an “overweight” rating and issued a $182.00 target price on shares of ExxonMobil in a research report on Monday, August 3rd. Finally, Weiss Ratings raised ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and an average target price of $166.10.
ExxonMobil Stock Performance
NYSE:XOM opened at $156.88 on Monday. The company’s 50-day moving average price is $150.53 and its 200-day moving average price is $151.88. 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 company 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. ExxonMobil Corporation has a twelve month low of $108.35 and a twelve month high of $176.41.
ExxonMobil (NYSE:XOM – Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the company posted $1.64 EPS. On average, sell-side analysts forecast that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.
ExxonMobil Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil’s payout ratio is currently 53.02%.
Key Stories Impacting ExxonMobil
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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