Flputnam Investment Management Co. Increases Stock Position in ExxonMobil Corporation $XOM

Flputnam Investment Management Co. increased its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 30.5% in the second quarter, HoldingsChannel.com reports. The firm owned 114,111 shares of the oil and gas company’s stock after buying an additional 26,643 shares during the period. Flputnam Investment Management Co.’s holdings in ExxonMobil were worth $15,601,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Impact Partnership Wealth LLC boosted its position in shares of ExxonMobil by 0.6% during the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after buying an additional 67 shares during the period. Cardinal Strategic Wealth Guidance raised its holdings in shares of ExxonMobil by 1.9% in the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 68 shares during the period. Core Wealth Advisors Inc. lifted its stake in ExxonMobil by 1.0% during the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after acquiring an additional 68 shares in the last quarter. ICW Investment Advisors LLC lifted its stake in ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 69 shares in the last quarter. Finally, Swisher Financial Concepts Inc. boosted its holdings in ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock valued at $4,649,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

XOM has been the topic of a number of recent research reports. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. Barclays lowered their price objective on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Piper Sandler began coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They set a “neutral” rating and a $158.00 target price on the stock. Finally, Citigroup reiterated a “neutral” rating on shares of ExxonMobil in a report on Wednesday, July 8th. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $166.10.

ExxonMobil Price Performance

XOM stock opened at $156.88 on Friday. The business has a 50 day moving average price of $150.53 and a 200 day moving average price of $151.87. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a market cap of $650.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17. ExxonMobil Corporation has a fifty-two week low of $108.35 and a fifty-two week high of $176.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $109.94 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. Equities research analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced 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. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. 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 economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

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.