CX Institutional Sells 11,353 Shares of ExxonMobil Corporation $XOM

CX Institutional lessened its holdings in ExxonMobil Corporation (NYSE:XOM) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 66,197 shares of the oil and gas company’s stock after selling 11,353 shares during the period. CX Institutional’s holdings in ExxonMobil were worth $9,050,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in XOM. Norges Bank bought a new stake in ExxonMobil during the fourth quarter worth approximately $7,625,063,000. Quantum Portfolio Management LLC bought a new stake in shares of ExxonMobil in the 1st quarter valued at approximately $965,932,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of ExxonMobil in the 1st quarter worth approximately $766,345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock valued at $1,925,119,000 after purchasing an additional 2,465,410 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of ExxonMobil by 334.4% during the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock valued at $368,541,000 after purchasing an additional 2,357,467 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Trading Down 0.2%

XOM stock opened at $155.19 on Tuesday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The firm’s 50-day moving average is $145.67 and its 200 day moving average is $148.98. The company has a market capitalization of $643.24 billion, a PE ratio of 19.97, a P/E/G ratio of 0.64 and a beta of 0.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the prior year, the company earned $1.64 earnings per share. On average, research analysts anticipate that ExxonMobil Corporation will post 11.36 EPS for the current year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. ExxonMobil’s payout ratio is 53.02%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil reportedly generated approximately $14.5 billion in second-quarter profit, while upstream production reached its highest level in more than 20 years. Record Permian output and solid refining performance reinforce the company’s operational momentum. ExxonMobil Posts US$14.5 Billion Q2 Profit As Production Hits 20 Year High
• Positive Sentiment: Higher crude prices, driven partly by disrupted petroleum shipments during the US-Iran conflict, boosted industry profitability and provided a favorable backdrop for ExxonMobil’s upstream business. Major Oil Companies Reap Profits As US-Iran Fighting Drives Energy Prices Higher
• Positive Sentiment: Investors continue to view ExxonMobil as a capital-return candidate because of strong free cash flow, disciplined spending and a long record of reliable dividend payments. ExxonMobil: A Capital Return Play Amid Soaring FCF
• Neutral Sentiment: Although headline earnings were strong, ExxonMobil’s reported quarterly EPS of $3.52 was slightly below the $3.56 consensus estimate. Revenue exceeded expectations, making the detailed operating metrics and outlook important for judging the durability of the results. Exxon Reports Q2 Earnings: What Key Metrics Have to Say
• Negative Sentiment: President Trump criticized ExxonMobil and Chevron for earning “too much money” from elevated oil prices. The comments raise concerns about possible political pressure, windfall-profit measures or other actions that could affect industry margins. Trump Says Exxon and Chevron Made Too Much Money Off High Oil Prices

Analysts Set New Price Targets

A number of brokerages recently issued reports on XOM. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. TD Cowen lowered their target price 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. BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a “neutral” rating in a research note on Friday, April 17th. Piper Sandler initiated coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 price objective on the stock. Finally, UBS Group upped their target price on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.30.

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.