Fifth Third Bancorp Has $572 Million Position in ExxonMobil Corporation $XOM

Fifth Third Bancorp lifted its position in shares of ExxonMobil Corporation (NYSE:XOM) by 63.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,371,424 shares of the oil and gas company’s stock after acquiring an additional 1,307,465 shares during the period. ExxonMobil makes up about 1.0% of Fifth Third Bancorp’s portfolio, making the stock its 14th largest holding. Fifth Third Bancorp’s holdings in ExxonMobil were worth $571,996,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of America Corp DE increased its stake in shares of ExxonMobil by 2.0% in the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares during the last quarter. Norges Bank bought a new position in ExxonMobil in the fourth quarter valued at about $7,625,063,000. Bank of New York Mellon Corp grew its position in ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp raised its stake in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after acquiring an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after acquiring an additional 293,446 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Down 0.4%

Shares of NYSE:XOM opened at $144.50 on Thursday. The firm has a market cap of $598.95 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.59 and a beta of 0.17. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The business has a fifty day simple moving average of $145.73 and a 200 day simple moving average of $146.11. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company 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 firm posted $1.76 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts predict that ExxonMobil Corporation will post 11.48 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.9%. ExxonMobil’s dividend payout ratio is presently 69.48%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. TD Cowen cut their price objective on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Finally, Wells Fargo & Company boosted their price objective on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.45.

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.