ExxonMobil Corporation $XOM Shares Sold by Energy Income Partners LLC

Energy Income Partners LLC reduced its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 59.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 268,676 shares of the oil and gas company’s stock after selling 402,132 shares during the quarter. Energy Income Partners LLC’s holdings in ExxonMobil were worth $45,584,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Bank of America Corp DE lifted its stake in shares of ExxonMobil by 2.0% during 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 purchasing an additional 1,457,560 shares in the last quarter. Norges Bank acquired a new stake in shares of ExxonMobil in the fourth quarter valued at about $7,625,063,000. Bank of New York Mellon Corp grew its stake in shares of ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp raised its holdings in shares of ExxonMobil by 1.0% during the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after buying an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in ExxonMobil by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after acquiring an additional 293,446 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Price Performance

XOM stock opened at $154.50 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. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The stock’s 50 day moving average is $145.80 and its two-hundred day moving average is $147.84. The company has a market capitalization of $640.42 billion, a PE ratio of 26.05, a P/E/G ratio of 0.64 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 EPS. Analysts predict that ExxonMobil Corporation will post 11.55 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s valuation may offer support. One analysis argues that the stock remains discounted based on discounted-cash-flow estimates and market multiples, despite its strong five-year performance and elevated oil prices. ExxonMobil Stock Could Be Cheap on Value Despite a 228% Run
• Positive Sentiment: The company is reportedly shifting new oil investment toward Nigeria and other African markets, potentially expanding its upstream growth opportunities and geographic diversification. Execution, political and operational risks remain considerations. ExxonMobil Is Moving New Oil Spending to Nigeria and Africa
• Neutral Sentiment: ExxonMobil is attracting unusually high investor search interest, which may increase near-term attention but does not itself change the company’s earnings outlook. Investors Heavily Search ExxonMobil
• Neutral Sentiment: ExxonMobil is among the major companies reporting during a particularly busy earnings week. Investors will look for updates on production, refining margins, capital spending and management’s outlook. Earnings Week Ahead
• Neutral Sentiment: Broader equities were mixed as markets awaited the Federal Reserve’s decision and additional earnings reports, leaving macroeconomic uncertainty as an important short-term influence on XOM. Equities Mixed Intraday as Markets Await Fed Decision
• Negative Sentiment: Oil prices fell as easing Middle East tensions reduced the geopolitical risk premium. Lower crude prices can pressure ExxonMobil’s upstream revenue, cash flow and profit expectations, helping explain why the stock weakened even as the broader market gained. Exxon Mobil Shares Fall as Oil Prices Tumble

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. Scotiabank upped their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. DZ Bank upgraded shares of ExxonMobil to a “strong-buy” rating in a research note on Monday, July 6th. TD Cowen decreased their target price on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a research note on Thursday, July 2nd. Piper Sandler assumed coverage on shares of ExxonMobil in a research note on Thursday. They set a “neutral” rating and a $158.00 price target on the stock. Finally, Barclays boosted 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.25.

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.