Navellier & Associates Inc. Increases Position in ExxonMobil Corporation $XOM

Navellier & Associates Inc. grew its position in ExxonMobil Corporation (NYSE:XOM) by 3.6% during the second quarter, Holdings Channel.com reports. The firm owned 95,411 shares of the oil and gas company’s stock after acquiring an additional 3,337 shares during the period. ExxonMobil accounts for approximately 1.0% of Navellier & Associates Inc.’s holdings, making the stock its 21st largest position. Navellier & Associates Inc.’s holdings in ExxonMobil were worth $13,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of XOM. Aventus Investment Advisors Inc. acquired a new position in shares of ExxonMobil during the 2nd quarter worth about $27,000. Portus Wealth Advisors LLC acquired a new position in ExxonMobil in the first quarter valued at approximately $36,000. Berbice Capital Management LLC acquired a new position in ExxonMobil in the fourth quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% in the fourth 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, Atlantic Private Wealth LLC raised its holdings in ExxonMobil by 776.9% during the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on XOM shares. Sanford C. Bernstein reduced their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Piper Sandler started coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They set a “neutral” rating and a $158.00 price target on the stock. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research report on Wednesday, July 8th. UBS Group set a $168.00 price objective on shares of ExxonMobil in a research note on Friday, August 7th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $182.00 price objective on shares of ExxonMobil in a report on Monday, August 3rd. Ten investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $166.10.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

ExxonMobil Price Performance

XOM stock opened at $156.88 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $650.26 billion, a P/E ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17. The business has a 50 day simple moving average of $150.53 and a 200-day simple moving average of $151.87. ExxonMobil Corporation has a twelve month low of $108.35 and a twelve month high of $176.41.

ExxonMobil (NYSE:XOM) last announced 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). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same period in the previous year, the firm earned $1.64 earnings per share. As a group, equities analysts anticipate that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil’s payout ratio is currently 53.02%.

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.