ExxonMobil Corporation $XOM Shares Bought by Park Place Capital Corp

Park Place Capital Corp grew its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 67.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,757 shares of the oil and gas company’s stock after buying an additional 3,945 shares during the quarter. Park Place Capital Corp’s holdings in ExxonMobil were worth $1,334,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Berbice Capital Management LLC acquired a new position in ExxonMobil during the 4th quarter worth $26,000. Midwest Capital Advisors LLC acquired 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 stake 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 purchasing an additional 187 shares in the last quarter. Aventus Investment Advisors Inc. bought a new position in shares of ExxonMobil during the second quarter worth about $27,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of ExxonMobil during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 61.80% of the company’s stock.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon is expanding automated drilling across its Permian Basin operations and reportedly aims to automate about half of its rig fleet by 2028. The technology could improve safety, drilling efficiency and production growth while lowering operating costs. Focus: Exxon turns to automated drilling in the Permian in push for higher oil output
• Positive Sentiment: Exxon’s Guyana expansion remains a significant future cash-flow driver, with a new floating production, storage and offloading vessel nearing startup and additional long-term production growth expected. Is Guyana Becoming an Even Bigger Cash Flow Engine for ExxonMobil?
• Positive Sentiment: Exxon is reportedly considering an acquisition of some or all of Shell’s U.S. chemical assets, potentially valued at up to $8 billion. The deal could expand Exxon’s chemicals platform and create synergies, although no transaction has been announced. Shell draws interest from bidders including Exxon for $8 billion US chemical assets
• Neutral Sentiment: Exxon continues to develop its Proxxima materials business, including an approved expansion. The initiative adds a potential specialty-products growth avenue, but its financial contribution is still uncertain. ExxonMobil Just Approved an Expansion of a Material Most Investors Have Never Heard Of
• Negative Sentiment: Exxon temporarily halted crude offloading and operations at Guyana’s Liza Unity facility after a small fire aboard the floating vessel. The incident was reportedly limited, but investors may be concerned about near-term production disruption and operational risk. ExxonMobil temporarily halts operations at Guyana site after fire
• Negative Sentiment: Energy shares moved lower broadly during Monday’s session, creating sector-wide pressure on XOM independent of company-specific developments. Sector Update: Energy Stocks Decline Monday Afternoon
• Negative Sentiment: A potential Shell chemicals acquisition could require substantial capital and expose Exxon to weaker chemicals-market conditions, making the rumored deal a source of execution and valuation risk.

Wall Street Analysts Forecast Growth

XOM has been the subject of several research analyst reports. Piper Sandler assumed coverage on ExxonMobil in a report on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 price objective for the company. Sanford C. Bernstein reduced their target price on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Weiss Ratings upgraded ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Mizuho lowered their price target on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, UBS Group set a $168.00 price objective on ExxonMobil in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $166.10.

ExxonMobil Price Performance

Shares of XOM opened at $163.90 on Tuesday. ExxonMobil Corporation has a 12 month low of $108.35 and a 12 month high of $176.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a fifty day moving average price of $149.04 and a 200 day moving average price of $151.61. The company has a market cap of $679.35 billion, a P/E ratio of 21.09, a PEG ratio of 0.65 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. On average, research analysts forecast that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a $1.03 dividend. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.5%. ExxonMobil’s dividend payout ratio (DPR) is currently 53.02%.

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.