Hodges Capital Management Inc. Lowers Stake in ExxonMobil Corporation $XOM

Hodges Capital Management Inc. reduced its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 6.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 50,433 shares of the oil and gas company’s stock after selling 3,712 shares during the period. Hodges Capital Management Inc.’s holdings in ExxonMobil were worth $8,557,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Portus Wealth Advisors LLC purchased a new stake in ExxonMobil during the first quarter valued at about $36,000. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil in the 4th quarter worth about $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil in the 4th quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 187 shares during the last quarter. Finally, Key Capital Management INC purchased a new position in shares of ExxonMobil during the 4th quarter valued at about $28,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Stock Up 1.0%

Shares of ExxonMobil stock opened at $138.84 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The company’s 50 day moving average price is $146.22 and its 200-day moving average price is $145.38. The stock has a market capitalization of $575.47 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 0.55 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion during 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 firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.76 EPS. Equities research analysts forecast that ExxonMobil Corporation will post 11.64 EPS for the current 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 was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. ExxonMobil’s payout ratio is presently 69.48%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil said it is expanding in Nigeria with a $1 billion Usan Infill Project, which is expected to restore drilling activity there and add about 40,000 barrels per day within 18 months. Article Title
• Positive Sentiment: Analysts say strong commodity tailwinds, including higher crude prices and margin gains, could lift XOM’s second-quarter results and support near-term earnings strength. Article Title
• Positive Sentiment: Oil-market commentary suggests major U.S. producers, including ExxonMobil, could benefit financially from geopolitical disruption and higher crude prices, without needing to materially increase drilling right away. Article Title
• Neutral Sentiment: Some market coverage says XOM’s valuation looks reasonable on earnings, but the stock may be stretched after a large multi-year run, which could limit upside if expectations get too high. Article Title
• Negative Sentiment: Mizuho lowered its price target on ExxonMobil to $170 and kept a neutral stance, signaling less aggressive upside expectations from one Wall Street firm. Article Title
• Negative Sentiment: Recent trading commentary noted XOM underperformed the broader market in a down session, reflecting investor caution around energy stocks when crude prices soften. Article Title

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Barclays boosted their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th. HSBC increased their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research report on Friday, March 20th. TD Cowen lowered their price objective on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Jefferies Financial Group upped their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Finally, Mizuho reduced their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ExxonMobil has a consensus rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Company 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.