Manning & Napier Advisors LLC Sells 16,096 Shares of ExxonMobil Corporation $XOM

Manning & Napier Advisors LLC decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 7.9% during the first quarter, Holdings Channel.com reports. The firm owned 188,653 shares of the oil and gas company’s stock after selling 16,096 shares during the period. Manning & Napier Advisors LLC’s holdings in ExxonMobil were worth $32,348,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Impact Partnership Wealth LLC raised its position in shares of ExxonMobil by 0.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after buying an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance lifted its holdings in shares of ExxonMobil by 1.9% in the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after acquiring an additional 68 shares during the last quarter. ICW Investment Advisors LLC grew its position in ExxonMobil by 0.3% in the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 69 shares in the last quarter. Swisher Financial Concepts Inc. grew its position in ExxonMobil by 0.3% in the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after acquiring an additional 69 shares in the last quarter. Finally, Fortis Capital Management LLC increased its stake in ExxonMobil by 2.0% during the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock worth $434,000 after acquiring an additional 70 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XOM. TD Cowen decreased their price objective on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday, July 2nd. Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. DZ Bank upgraded ExxonMobil to a “strong-buy” rating in a report on Monday, July 6th. Morgan Stanley lowered their price target on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. Finally, Scotiabank lifted their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.45.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Stock Performance

XOM stock opened at $145.04 on Wednesday. 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 business’s fifty day simple moving average is $145.82 and its two-hundred day simple moving average is $145.93. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41. The firm has a market cap of $601.18 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 0.59 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.76 earnings per share. Analysts predict that ExxonMobil Corporation will post 11.48 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. The ex-dividend date was 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 presently 69.48%.

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.