The Manufacturers Life Insurance Company Reduces Position in ExxonMobil Corporation $XOM

The Manufacturers Life Insurance Company decreased its position in shares of ExxonMobil Corporation (NYSE:XOM) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,257,803 shares of the oil and gas company’s stock after selling 142,982 shares during the period. The Manufacturers Life Insurance Company’s holdings in ExxonMobil were worth $552,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Capital Management LLC raised its position in ExxonMobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 376 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of ExxonMobil in the first quarter valued at about $305,000. Sivia Capital Partners LLC raised its holdings in shares of ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock valued at $1,211,000 after buying an additional 207 shares during the last quarter. United Bank boosted its stake in shares of ExxonMobil by 2.8% during the second quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock worth $2,352,000 after buying an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in shares of ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after buying an additional 5,443 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wolfe Research cut ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their target price on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. TD Cowen dropped their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, July 2nd. Finally, Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, ExxonMobil currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

More ExxonMobil News

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

ExxonMobil Price Performance

Shares of XOM opened at $154.50 on Tuesday. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41. The stock’s 50 day moving average is $145.80 and its two-hundred day moving average is $147.84. The firm has a market capitalization of $640.42 billion, a PE ratio of 26.05, a P/E/G ratio of 0.64 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 (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The company 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 quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 EPS. Research analysts anticipate that ExxonMobil Corporation will post 11.55 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, May 15th. 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.