Lazard Asset Management LLC Sells 38,986 Shares of ExxonMobil Corporation $XOM

Lazard Asset Management LLC lowered its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,095,426 shares of the oil and gas company’s stock after selling 38,986 shares during the period. Lazard Asset Management LLC’s holdings in ExxonMobil were worth $355,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Berbice Capital Management LLC bought a new position in ExxonMobil in the fourth quarter worth about $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of ExxonMobil by 456.1% in 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 buying an additional 187 shares in the last quarter. Key Capital Management INC purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on XOM. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Zacks Research lowered shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley decreased their price objective on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their target price on ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, Bank of America upgraded ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, ExxonMobil presently has an average rating of “Moderate Buy” and an average target price of $163.25.

ExxonMobil Trading Down 1.6%

NYSE:XOM opened at $154.50 on Tuesday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The firm has a fifty day simple moving average of $145.80 and a 200-day simple moving average of $147.84. 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 company has a market capitalization of $640.42 billion, a P/E ratio of 26.05, a PEG ratio of 0.64 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that ExxonMobil Corporation will post 11.55 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, May 15th. ExxonMobil’s payout ratio is presently 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

ExxonMobil 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.