WIT Partners Advisory Pte. Ltd. Increases Stake in ExxonMobil Corporation $XOM

WIT Partners Advisory Pte. Ltd. raised its position in ExxonMobil Corporation (NYSE:XOM) by 534.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,905 shares of the oil and gas company’s stock after acquiring an additional 9,185 shares during the period. ExxonMobil makes up 0.5% of WIT Partners Advisory Pte. Ltd.’s investment portfolio, making the stock its 13th largest holding. WIT Partners Advisory Pte. Ltd.’s holdings in ExxonMobil were worth $1,850,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Financiere des Professionnels Fonds d investissement inc. increased its stake in shares of ExxonMobil by 73.9% during the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 147,058 shares of the oil and gas company’s stock worth $24,950,000 after acquiring an additional 62,506 shares during the period. Bessemer Group Inc. lifted its position in ExxonMobil by 15.9% in the first quarter. Bessemer Group Inc. now owns 3,021,114 shares of the oil and gas company’s stock valued at $512,562,000 after purchasing an additional 415,437 shares during the period. Avalon Trust Co boosted its holdings in ExxonMobil by 64.0% in the 1st quarter. Avalon Trust Co now owns 2,480 shares of the oil and gas company’s stock valued at $421,000 after purchasing an additional 968 shares in the last quarter. Gerald Baker Financial Group LLC purchased a new stake in ExxonMobil in the 1st quarter valued at approximately $24,018,000. Finally, SteelPeak Wealth LLC increased its position in ExxonMobil by 10.1% during the 1st quarter. SteelPeak Wealth LLC now owns 67,740 shares of the oil and gas company’s stock worth $11,493,000 after purchasing an additional 6,207 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on XOM shares. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. UBS Group lifted their price target on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Bank of America raised ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective on the stock in a report on Tuesday, June 16th. Wells Fargo & Company increased 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. Finally, Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Price Performance

XOM stock opened at $148.50 on Tuesday. The firm has a 50 day moving average of $145.76 and a 200-day moving average of $146.68. The company has a market cap of $615.50 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 0.61 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share 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 business had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the firm posted $1.76 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts expect that ExxonMobil Corporation will post 11.38 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.8%. ExxonMobil’s dividend payout ratio is 69.48%.

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.