ExxonMobil Corporation $XOM Stock Position Raised by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc boosted its stake in ExxonMobil Corporation (NYSE:XOM) by 245.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 77,993 shares of the oil and gas company’s stock after acquiring an additional 55,425 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in ExxonMobil were worth $9,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. Franklin Resources Inc. lifted its position in ExxonMobil by 7.4% in the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after buying an additional 2,660,910 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of ExxonMobil by 218.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after purchasing an additional 2,546,791 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of ExxonMobil by 105.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company’s stock worth $329,797,000 after purchasing an additional 1,501,235 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of ExxonMobil by 119.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,672,359 shares of the oil and gas company’s stock worth $301,310,000 after purchasing an additional 1,454,308 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of ExxonMobil by 4.5% during the 3rd quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company’s stock worth $2,299,687,000 after purchasing an additional 886,087 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

XOM has been the topic of a number of research analyst reports. Zacks Research lowered shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley decreased their target price on shares of ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a research report on Friday, April 17th. HSBC lifted their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research report on Friday, March 20th. Piper Sandler cut their price target on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, Scotiabank boosted their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, ExxonMobil presently has a consensus rating of “Hold” and an average price target of $165.55.

ExxonMobil Stock Down 1.3%

ExxonMobil stock opened at $147.80 on Thursday. The stock has a market capitalization of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. 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 company has a 50 day moving average of $155.51 and a 200-day moving average of $139.90.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 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 during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the company posted $1.76 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that ExxonMobil Corporation will post 11.49 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

Insider Buying and Selling

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares in the company, valued at $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.03% of the stock is currently owned by corporate insiders.

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.