Cohen & Steers Inc. Has $28.91 Million Stock Position in ExxonMobil Corporation $XOM

Cohen & Steers Inc. lowered its stake in ExxonMobil Corporation (NYSE:XOM) by 2.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 240,205 shares of the oil and gas company’s stock after selling 6,011 shares during the period. Cohen & Steers Inc.’s holdings in ExxonMobil were worth $28,906,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of XOM. Norges Bank bought a new stake in ExxonMobil in the 4th quarter valued at about $7,625,063,000. Franklin Resources Inc. boosted its holdings in ExxonMobil by 7.4% in the 3rd 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 during the period. Mercer Global Advisors Inc. ADV boosted its holdings in ExxonMobil by 218.4% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock valued at $155,696,000 after purchasing an additional 2,546,791 shares during the period. AQR Capital Management LLC boosted its holdings in ExxonMobil by 105.4% in the 3rd quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company’s stock valued at $329,797,000 after purchasing an additional 1,501,235 shares during the period. Finally, Pinebridge Investments LLC bought a new stake in ExxonMobil in the 4th quarter valued at about $138,732,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on XOM shares. Sanford C. Bernstein cut their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a report on Monday, May 11th. Wolfe Research downgraded shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. HSBC upped their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, TD Cowen cut their price target on shares of ExxonMobil from $175.00 to $172.00 and set a “buy” rating for the company in a report on Friday, April 10th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, ExxonMobil has a consensus rating of “Hold” and an average target price of $165.55.

ExxonMobil Price Performance

ExxonMobil stock opened at $146.80 on Friday. The stock has a market capitalization of $608.47 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a fifty day moving average of $152.09 and a 200-day moving average of $142.36. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 EPS. On average, sell-side analysts expect that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.8%. ExxonMobil’s dividend payout ratio is presently 69.48%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the transaction, the vice president owned 17,124 shares of the company’s stock, valued at $2,662,782. This represents a 5.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.03% of the stock is currently owned by insiders.

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.