Associated Banc Corp Cuts Holdings in ExxonMobil Corporation $XOM

Associated Banc Corp cut its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 536,196 shares of the oil and gas company’s stock after selling 3,439 shares during the period. ExxonMobil accounts for 2.4% of Associated Banc Corp’s portfolio, making the stock its 9th biggest position. Associated Banc Corp’s holdings in ExxonMobil were worth $90,971,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC increased its position in ExxonMobil by 0.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 67 shares during the period. Cardinal Strategic Wealth Guidance boosted its stake in shares of ExxonMobil by 1.9% during 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 in the last quarter. ICW Investment Advisors LLC increased its position in shares of ExxonMobil by 0.3% during the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock valued at $3,043,000 after buying an additional 69 shares during the period. Swisher Financial Concepts Inc. raised its stake in ExxonMobil by 0.3% in the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after buying an additional 69 shares in the last quarter. Finally, Fortis Capital Management LLC raised its stake in ExxonMobil by 2.0% in the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock worth $434,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Trading Up 0.9%

NYSE XOM opened at $145.79 on Friday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock’s fifty day moving average price is $145.72 and its 200-day moving average price is $146.30. The stock has a market cap of $604.31 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.59 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.76 EPS. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.43 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 issued 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 payout ratio is 69.48%.

Analyst Ratings Changes

Several analysts have weighed in on XOM shares. Jefferies Financial Group lifted their price objective on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Wells Fargo & Company raised their target price on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Barclays lifted their price target on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Finally, Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, ExxonMobil currently 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.