Bayban Invests $3.25 Million in ExxonMobil Corporation $XOM

Bayban purchased a new stake in ExxonMobil Corporation (NYSE:XOM) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 27,050 shares of the oil and gas company’s stock, valued at approximately $3,255,000. ExxonMobil comprises 2.9% of Bayban’s portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Bank of America Corp DE lifted its holdings in ExxonMobil by 2.0% in 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 last quarter. Norges Bank acquired a new position in shares of ExxonMobil during the fourth quarter valued at $7,625,063,000. Bank of New York Mellon Corp grew its position 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 acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp grew its position in shares of ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after acquiring an additional 445,283 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of 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 worth $4,366,655,000 after acquiring an additional 2,660,910 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

ExxonMobil Trading Up 0.0%

Shares of NYSE XOM opened at $137.84 on Friday. The business has a fifty day simple moving average of $149.98 and a 200-day simple moving average of $143.22. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The company has a market cap of $571.36 billion, a price-to-earnings ratio of 23.25, a P/E/G ratio of 0.58 and a beta of 0.16. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period last year, the firm posted $1.76 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. ExxonMobil’s dividend payout ratio is presently 69.48%.

Analysts Set New Price Targets

XOM has been the subject of several recent analyst reports. Citigroup upped their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. TD Cowen reaffirmed a “buy” rating on shares of ExxonMobil in a research note on Monday, June 15th. Scotiabank boosted their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company increased their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the company a “neutral” rating in a report on Friday, April 17th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $165.70.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s production has reached its highest level in more than 40 years, supported by aggressive output growth in Guyana, Texas, and Papua New Guinea. Higher volumes at lower costs should support cash flow and investor confidence. Article: Darren Woods’ Game Plan at Exxon Mobil: Produce More Oil for Less Money
• Positive Sentiment: ExxonMobil is expanding its long-term growth pipeline in Guyana’s Stabroek Block, with plans to drill up to 35 new exploration and appraisal wells from 2028 through 2033. This could extend reserve growth and future production. Article: ExxonMobil Advances New Exploration Push in Guyana’s Stabroek Block
• Neutral Sentiment: ExxonMobil reportedly struck a deal with ZET for South Africa’s first LNG terminal, highlighting continued international LNG expansion efforts. This is strategically constructive, but the near-term stock impact is unclear. Article: ExxonMobil and ZET strike deal for South Africa’s first LNG terminal
• Neutral Sentiment: Commentary suggesting ExxonMobil could pursue another megamerger or LNG acquisition may support long-term strategic speculation, but it is not a confirmed catalyst. Article: ExxonMobil Has Its Sights on Its Next Megamerger. Here’s the Oil Stock It Should Buy.
• Negative Sentiment: ExxonMobil shares fell alongside other oil stocks after the U.S. and Iran reached an interim agreement that could reopen the Strait of Hormuz and lift sanctions on Tehran’s oil. The deal pressures crude prices, which can reduce upstream earnings for XOM. Article: ExxonMobil and Occidental Petroleum Stocks Trade Down, What You Need To Know
• Negative Sentiment: Recent market commentary notes ExxonMobil has been under sustained selling pressure over the past days and weeks, reflecting weaker oil prices and a softer sector backdrop. Article: Exxon Mobil (XOM) Stock Could Be 18.9% Undervalued Despite Recent Pullback

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.