LGT Fund Management Co Ltd. Has $24.07 Million Holdings in ExxonMobil Corporation $XOM

LGT Fund Management Co Ltd. raised its position in shares of ExxonMobil Corporation (NYSE:XOM) by 138.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,901 shares of the oil and gas company’s stock after purchasing an additional 82,373 shares during the period. ExxonMobil accounts for about 1.0% of LGT Fund Management Co Ltd.’s investment portfolio, making the stock its 18th largest position. LGT Fund Management Co Ltd.’s holdings in ExxonMobil were worth $24,075,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC bought a new position in ExxonMobil during the fourth quarter valued at approximately $26,000. Midwest Capital Advisors LLC bought a new stake in ExxonMobil in the fourth quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 187 shares during the last quarter. Key Capital Management INC acquired a new position in shares of ExxonMobil during the 4th quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of ExxonMobil during the 4th quarter valued at $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. TD Cowen cut their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Morgan Stanley reduced 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. Weiss Ratings downgraded ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Scotiabank increased their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. One equities research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Price Performance

NYSE XOM opened at $145.79 on Friday. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The company has a fifty day simple moving average of $145.72 and a 200 day simple moving average of $146.30. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market cap of $604.31 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.59 and a beta of 0.17.

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. The firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.76 EPS. On average, sell-side analysts predict that ExxonMobil Corporation will post 11.43 EPS for the current 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 paid a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s payout ratio is presently 69.48%.

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.