Allspring Global Investments Holdings LLC Trims Position in ExxonMobil Corporation $XOM

Allspring Global Investments Holdings LLC decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 10.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 962,709 shares of the oil and gas company’s stock after selling 113,473 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ExxonMobil were worth $154,784,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Capital Investment Advisors LLC raised its position in shares of ExxonMobil by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock worth $27,857,000 after buying an additional 14,233 shares in the last quarter. Sanctuary Advisors LLC grew its position in ExxonMobil by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock worth $126,166,000 after buying an additional 23,668 shares in the last quarter. Clear Trail Advisors LLC purchased a new position in ExxonMobil during the fourth quarter worth about $28,728,000. Midwest Trust Co increased its stake in ExxonMobil by 3.9% in the 1st quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after acquiring an additional 26,411 shares during the last quarter. Finally, King Luther Capital Management Corp raised its holdings in shares of ExxonMobil by 2.4% in the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock valued at $200,366,000 after acquiring an additional 38,492 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on XOM shares. DZ Bank upgraded ExxonMobil to a “strong-buy” rating in a research report on Monday, July 6th. Jefferies Financial Group upped their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Morgan Stanley dropped their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. One investment 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, ExxonMobil currently has an average rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Trading Up 0.8%

Shares of XOM stock opened at $148.50 on Tuesday. 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 business has a 50-day moving average price of $145.76 and a two-hundred day moving average price of $146.68. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The firm has a market cap of $615.50 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted 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. The firm had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.76 EPS. Equities analysts anticipate that ExxonMobil Corporation will post 11.38 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders 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 currently 69.48%.

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.