ExxonMobil Corporation $XOM Stock Position Reduced by Conning Inc.

Conning Inc. decreased its position in ExxonMobil Corporation (NYSE:XOM) by 14.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 258,374 shares of the oil and gas company’s stock after selling 44,899 shares during the period. ExxonMobil accounts for approximately 1.5% of Conning Inc.’s investment portfolio, making the stock its 4th largest position. Conning Inc.’s holdings in ExxonMobil were worth $43,836,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Impact Partnership Wealth LLC increased its stake in ExxonMobil by 0.6% during the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 67 shares during the last quarter. Cardinal Strategic Wealth Guidance lifted its stake in shares of ExxonMobil by 1.9% in the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 68 shares during the last quarter. ICW Investment Advisors LLC grew its holdings in shares of ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares during the period. Swisher Financial Concepts Inc. increased its position in shares of ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after purchasing an additional 69 shares during the last quarter. Finally, Fortis Capital Management LLC raised its holdings in ExxonMobil by 2.0% in the 4th quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock valued at $434,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Performance

Shares of XOM opened at $145.04 on Wednesday. The stock has a 50-day simple moving average of $145.82 and a 200-day simple moving average of $145.93. 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 market capitalization of $601.18 billion, a PE ratio of 24.46, a PEG ratio of 0.59 and a beta of 0.17. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year 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 analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 earnings per share. On average, analysts predict that ExxonMobil Corporation will post 11.48 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s dividend payout ratio is currently 69.48%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

Wall Street Analysts Forecast Growth

A number of research analysts have commented on XOM shares. Scotiabank upped their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Barclays upped their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Morgan Stanley cut their target price on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research report on Monday, June 29th. Finally, Piper Sandler decreased their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.45.

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.