Evercore Wealth Management LLC Reduces Stock Position in ExxonMobil Corporation $XOM

Evercore Wealth Management LLC lessened its holdings in ExxonMobil Corporation (NYSE:XOM) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 75,605 shares of the oil and gas company’s stock after selling 5,744 shares during the period. Evercore Wealth Management LLC’s holdings in ExxonMobil were worth $12,827,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. lifted its stake in ExxonMobil by 8.3% in the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after acquiring an additional 37,666 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of ExxonMobil by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock valued at $126,166,000 after purchasing an additional 23,668 shares in the last quarter. Midwest Trust Co increased its holdings in ExxonMobil by 3.9% during the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock valued at $120,623,000 after buying an additional 26,411 shares during the period. King Luther Capital Management Corp increased its holdings in ExxonMobil by 2.4% during the fourth quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock valued at $200,366,000 after buying an additional 38,492 shares during the period. Finally, Valpey Financial Services LLC raised its stake in ExxonMobil by 12,037.6% in the fourth quarter. Valpey Financial Services LLC now owns 476,400 shares of the oil and gas company’s stock worth $57,330,000 after buying an additional 472,475 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Key ExxonMobil News

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

Analysts Set New Price Targets

A number of research firms have weighed in on XOM. Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. DZ Bank raised ExxonMobil to a “strong-buy” rating in a research report on Monday, July 6th. Sanford C. Bernstein decreased their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. UBS Group upped their price objective on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Mizuho dropped their price objective on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and a consensus target price of $163.25.

ExxonMobil Trading Down 1.6%

NYSE:XOM opened at $154.50 on Tuesday. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The firm has a 50 day moving average of $145.80 and a 200 day moving average of $147.84. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $640.42 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 0.64 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last released 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. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business 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 revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that ExxonMobil Corporation will post 11.55 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. ExxonMobil’s dividend payout ratio (DPR) is presently 69.48%.

About ExxonMobil

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.