ExxonMobil Corporation $XOM Stake Boosted by Nvest Financial LLC

Nvest Financial LLC lifted its stake in ExxonMobil Corporation (NYSE:XOM) by 96.5% during the fourth quarter, HoldingsChannel reports. The fund owned 8,101 shares of the oil and gas company’s stock after purchasing an additional 3,978 shares during the quarter. Nvest Financial LLC’s holdings in ExxonMobil were worth $975,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in ExxonMobil in the fourth quarter valued at about $7,625,063,000. Franklin Resources Inc. raised its stake in shares of ExxonMobil by 7.4% during 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 purchasing an additional 2,660,910 shares in the last quarter. Mercer Global Advisors Inc. ADV raised 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 in the last quarter. AQR Capital Management LLC lifted its holdings 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 valued at $329,797,000 after buying an additional 1,501,235 shares during the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of ExxonMobil by 119.4% in the 3rd quarter. Bessemer Group Inc. now owns 2,672,359 shares of the oil and gas company’s stock valued at $301,310,000 after buying an additional 1,454,308 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Stock Up 2.2%

Shares of XOM stock opened at $152.92 on Thursday. The stock’s 50 day simple moving average is $154.49 and its 200 day simple moving average is $140.97. ExxonMobil Corporation has a twelve month low of $101.73 and a twelve month high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The company has a market capitalization of $633.83 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 0.64 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm 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 business earned $1.76 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that ExxonMobil Corporation will post 11.66 EPS for the current year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

Insider Activity

In related news, VP Darrin L. Talley sold 1,080 shares of the firm’s 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 transaction, the vice president directly owned 17,124 shares in the company, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.03% of the company’s stock.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s Permian operations are highlighted as a major profit driver, with low breakeven costs in the Midland and Delaware basins and rising production that could boost margins if oil prices stay elevated. Article: ExxonMobil’s Permian Advantage: Low Breakeven, Rising Production
• Positive Sentiment: A senior Exxon executive warned that Brent could surge to $150-$160 per barrel in coming weeks as global inventories approach historic lows, reinforcing the bullish case for ExxonMobil’s upstream earnings. Article: Exxon SVP Warns Oil Could Spike to $150-160 Per Barrel in ‘Coming Weeks’
• Positive Sentiment: The U.S. Strategic Petroleum Reserve continues to fall toward its lowest level since the early 1980s, which may support higher oil prices and improve the outlook for ExxonMobil’s production and refining economics. Article: US Strategic Petroleum Reserve on pace to hit lowest level since the early 1980s later this month
• Positive Sentiment: Reports that ExxonMobil is weighing a return to Venezuela suggest potential access to more reserves and long-term production opportunities, which could add upside if negotiations progress. Article: Exxon Mobil Weighs Venezuela Return And Valuation Upside For Investors
• Positive Sentiment: Investor optimism also stems from ExxonMobil’s Texas domicile move and continuing growth plans in the Permian Basin, both of which reinforce a long-term expansion narrative for the company. Article: Exxon Mobil Texas Move And What It Means For XOM Valuation
• Neutral Sentiment: Broader energy-sector commentary continues to place ExxonMobil on watchlists, but these articles are mostly screening/overview pieces rather than new company-specific developments. Article: Oil Stocks To Add to Your Watchlist – May 30th
• Neutral Sentiment: Market chatter around Iran and geopolitical tensions is helping oil prices, which can lift XOM, but the impact is indirect and depends on how long the supply risk persists. Article: Exxon (XOM) roars back as one Iran headline reignites oil

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho increased their price objective on ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Bank of America lifted their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Piper Sandler dropped their price target on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. HSBC raised their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a report on Friday, March 20th. Finally, Morgan Stanley reduced their price objective on shares of ExxonMobil from $172.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil has an average rating of “Hold” and a consensus target price of $165.55.

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.