Korea Investment CORP Sells 138,760 Shares of ExxonMobil Corporation $XOM

Korea Investment CORP trimmed its position in ExxonMobil Corporation (NYSE:XOM) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,099,320 shares of the oil and gas company’s stock after selling 138,760 shares during the period. ExxonMobil makes up approximately 0.7% of Korea Investment CORP’s portfolio, making the stock its 17th biggest position. Korea Investment CORP owned approximately 0.07% of ExxonMobil worth $372,972,000 at the end of the most recent reporting period.

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

ExxonMobil Stock Up 0.1%

XOM opened at $146.80 on Friday. The stock has a market cap of $608.47 billion, a PE ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The business’s fifty day simple moving average is $152.09 and its 200 day simple moving average is $142.36.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 earnings per share. As a group, research analysts expect that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

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

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on XOM. BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the stock a “neutral” rating in a research note on Friday, April 17th. Bank of America upped their price objective on ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Barclays boosted their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $165.55.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the transaction, the vice president owned 17,124 shares of the company’s stock, valued at $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by corporate insiders.

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.