Kahn Brothers Group Inc. Makes New $2.41 Million Investment in ExxonMobil Corporation $XOM

Kahn Brothers Group Inc. purchased a new stake in shares of ExxonMobil Corporation (NYSE:XOM) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 17,655 shares of the oil and gas company’s stock, valued at approximately $2,414,000. ExxonMobil accounts for approximately 0.0% of Kahn Brothers Group Inc.’s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also modified their holdings of XOM. Assetmark Inc. lifted its stake in ExxonMobil by 8.3% in the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after purchasing an additional 37,666 shares in the last quarter. Charles Schwab Trust Co grew its position in shares of ExxonMobil by 392.9% during the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock valued at $16,710,000 after purchasing an additional 97,424 shares in the last quarter. CV Advisors LLC increased its holdings in shares of ExxonMobil by 126.7% in the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 6,478 shares during the last quarter. Midwest Trust Co increased its holdings in shares of ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after purchasing an additional 26,411 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its position in shares of ExxonMobil by 2.4% in the fourth quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company’s stock worth $200,366,000 after buying an additional 38,492 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. TD Cowen increased their price target on ExxonMobil from $155.00 to $168.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Barclays reduced their price objective on ExxonMobil from $182.00 to $177.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Freedom Capital upgraded ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Morgan Stanley raised their target price on shares of ExxonMobil from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. Finally, Piper Sandler started coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, ExxonMobil has a consensus rating of “Hold” and an average target price of $166.10.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is reportedly among the potential bidders for Shell’s U.S. chemicals assets, a transaction that could be worth up to $8 billion. The deal could expand ExxonMobil’s chemicals operations, although it would also require disciplined valuation and capital allocation. Potential Bidders Are Looking at Shell’s Chemical Assets
• Positive Sentiment: ExxonMobil’s low debt burden and solid balance sheet give it flexibility to maintain operations, pursue acquisitions and return capital to shareholders during periods of weaker oil and gas prices. Why ExxonMobil’s Financial Strength Matters for Investors
• Positive Sentiment: Permian Basin production reached a record, and planned expansion supports continued upstream volume growth. Analysts also view ExxonMobil as well positioned among major oil stocks, with Morgan Stanley suggesting the shares could eventually challenge their record high. Can ExxonMobil’s Permian Growth Keep Driving Upstream Momentum?
• Positive Sentiment: ExxonMobil’s 43-year record of annual dividend increases continues to support its appeal to income-focused investors, despite the more moderate pace of recent increases. ExxonMobil Has Raised Its Dividend 43 Years in a Row
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ 40th Annual Energy-Power Conference, giving investors a potential update on strategy, production and capital returns. ExxonMobil to Speak at Barclays Conference
• Negative Sentiment: Oil prices have fallen for several sessions as markets treat Iran-related sanctions as negotiating pressure rather than an immediate threat to supply. The fading “Iran premium” is pressuring energy shares, including XOM. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on broader equity valuations. These Three Stocks Are Must-Owns After the PCE Data

ExxonMobil Trading Down 0.9%

XOM opened at $156.70 on Friday. The stock has a 50-day moving average of $150.15 and a 200 day moving average of $151.84. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 12 month low of $108.35 and a 12 month high of $176.41. The firm has a market cap of $649.51 billion, a P/E ratio of 20.17, a P/E/G ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data 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). The company had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter last year, the company earned $1.64 earnings per share. As a group, research analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil’s dividend payout ratio is presently 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.