Great Lakes Advisors LLC Trims Stake in ExxonMobil Corporation $XOM

Great Lakes Advisors LLC cut its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 4.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,441,371 shares of the oil and gas company’s stock after selling 67,880 shares during the period. ExxonMobil makes up approximately 1.5% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Great Lakes Advisors LLC’s holdings in ExxonMobil were worth $197,064,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Berbice Capital Management LLC bought a new position in ExxonMobil during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 187 shares during the period. Aventus Investment Advisors Inc. acquired a new stake in shares of ExxonMobil in the 2nd quarter valued at approximately $27,000. Finally, Nvest Wealth Strategies Inc. bought a new position in ExxonMobil during the 4th quarter worth approximately $32,000. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on XOM. HSBC set a $158.00 target price on shares of ExxonMobil in a research note on Monday, August 3rd. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Piper Sandler assumed coverage on shares of ExxonMobil in a report on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 price target for the company. TD Cowen upped their price objective on shares of ExxonMobil from $155.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $163.05.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher crude prices boosted the stock. Oil moved above $91 per barrel amid renewed Iran-related supply concerns, improving the potential earnings and cash-flow outlook for ExxonMobil. The company’s record production and reported $17.2 billion in free cash flow also supported investor sentiment. Exxon Stock Surges 2.3% as Oil Breaks Above $91
• Positive Sentiment: Expanded Targa Resources agreements support Permian growth. ExxonMobil signed or expanded 20-year, fee-based arrangements with Targa Resources (NYSE: TRGP) covering gathering, processing, NGL transportation and fractionation in the Delaware and Midland basins. The agreements provide long-term infrastructure support for ExxonMobil’s production plans and add visibility to future Permian volumes. Targa Resources Signs 20-Year Agreements With ExxonMobil
• Positive Sentiment: ExxonMobil advanced its Mozambique LNG project. The company and partners awarded approximately $1.1 billion in early contracts for upstream equipment for the Rovuma LNG Phase 1 project. The move signals progress on a potentially significant future LNG asset and reinforces ExxonMobil’s international growth strategy. ExxonMobil Awards Contracts for Mozambique’s Rovuma LNG Project
• Positive Sentiment: The dividend was raised 4% to $1.03 per share, marking 26 consecutive years of increases. The hike may appeal to income-oriented investors and reflects management’s confidence in ExxonMobil’s recurring cash-generation capacity. Exxon Mobil Raises Dividend 4%
• Neutral Sentiment: Analyst commentary remains broadly bullish on XOM’s valuation, production growth and shareholder returns, but the company’s prior quarterly earnings slightly missed the consensus EPS estimate, underscoring sensitivity to commodity prices and execution.

ExxonMobil Price Performance

Shares of XOM opened at $165.62 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a twelve month low of $106.15 and a twelve month high of $176.41. The stock has a market capitalization of $686.49 billion, a P/E ratio of 21.32, a P/E/G ratio of 0.63 and a beta of 0.17. The company has a 50 day moving average of $147.53 and a 200-day moving average of $150.93.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The business had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the prior year, the firm earned $1.64 EPS. As a group, equities research analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

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.