Family Manage LLC Raises Stock Position in ExxonMobil Corporation $XOM

Family Manage LLC grew its position in shares of ExxonMobil Corporation (NYSE:XOM) by 446.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,345 shares of the oil and gas company’s stock after acquiring an additional 29,690 shares during the quarter. ExxonMobil makes up 0.7% of Family Manage LLC’s holdings, making the stock its 28th largest holding. Family Manage LLC’s holdings in ExxonMobil were worth $6,166,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of XOM. Bank of America Corp DE boosted its position in ExxonMobil by 2.0% in the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after purchasing an additional 1,457,560 shares during the last quarter. Norges Bank purchased a new stake in shares of ExxonMobil during the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp lifted its stake in shares of ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp lifted its stake in shares of ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after buying an additional 293,446 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s valuation may offer support. One analysis argues that the stock remains discounted based on discounted-cash-flow estimates and market multiples, despite its strong five-year performance and elevated oil prices. ExxonMobil Stock Could Be Cheap on Value Despite a 228% Run
• Positive Sentiment: The company is reportedly shifting new oil investment toward Nigeria and other African markets, potentially expanding its upstream growth opportunities and geographic diversification. Execution, political and operational risks remain considerations. ExxonMobil Is Moving New Oil Spending to Nigeria and Africa
• Neutral Sentiment: ExxonMobil is attracting unusually high investor search interest, which may increase near-term attention but does not itself change the company’s earnings outlook. Investors Heavily Search ExxonMobil
• Neutral Sentiment: ExxonMobil is among the major companies reporting during a particularly busy earnings week. Investors will look for updates on production, refining margins, capital spending and management’s outlook. Earnings Week Ahead
• Neutral Sentiment: Broader equities were mixed as markets awaited the Federal Reserve’s decision and additional earnings reports, leaving macroeconomic uncertainty as an important short-term influence on XOM. Equities Mixed Intraday as Markets Await Fed Decision
• Negative Sentiment: Oil prices fell as easing Middle East tensions reduced the geopolitical risk premium. Lower crude prices can pressure ExxonMobil’s upstream revenue, cash flow and profit expectations, helping explain why the stock weakened even as the broader market gained. Exxon Mobil Shares Fall as Oil Prices Tumble

Wall Street Analyst Weigh In

Several analysts recently issued reports on XOM shares. UBS Group boosted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Morgan Stanley dropped their price target on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the company a “neutral” rating in a research report on Friday, April 17th. Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, ExxonMobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.25.

ExxonMobil Price Performance

NYSE XOM opened at $154.50 on Tuesday. 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. The stock has a market cap of $640.42 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 0.64 and a beta of 0.17. The company’s 50 day moving average is $145.80 and its two-hundred day moving average is $147.84.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.76 earnings per share. As a group, research analysts anticipate that ExxonMobil Corporation will post 11.55 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors 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 2.7%. ExxonMobil’s dividend payout ratio is currently 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.