Eventide Asset Management LLC Sells 5,993 Shares of ExxonMobil Corporation $XOM

Eventide Asset Management LLC reduced its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 8.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,304 shares of the oil and gas company’s stock after selling 5,993 shares during the quarter. Eventide Asset Management LLC’s holdings in ExxonMobil were worth $7,538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of XOM. Norges Bank bought a new stake in shares of ExxonMobil during the 4th quarter worth $7,625,063,000. Franklin Resources Inc. lifted its position in shares of 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 buying an additional 2,660,910 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of ExxonMobil by 218.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after buying an additional 2,546,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock worth $1,925,119,000 after buying an additional 2,465,410 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of ExxonMobil by 334.4% during the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock worth $368,541,000 after buying an additional 2,357,467 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Price Performance

Shares of XOM opened at $146.80 on Monday. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. 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 company has a market capitalization of $608.47 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The business has a 50-day moving average of $152.09 and a 200-day moving average of $142.55.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period last year, the company earned $1.76 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on XOM shares. Wells Fargo & Company upped their target price on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Barclays upped their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Scotiabank upped their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. UBS Group upped their target price on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a report on Tuesday, May 5th. Ten analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, ExxonMobil has an average rating of “Hold” and an average target price of $165.55.

Key ExxonMobil News

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

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.