ACT Capital Management LLC Takes $9.93 Million Position in ExxonMobil Corporation $XOM

Key Points

• ACT Capital Management initiated a new position in ExxonMobil, buying 82,500 shares valued at about $9.93 million. The stake represents 8% of the firm’s portfolio and its third-largest holding.
• Analysts remain generally constructive on XOM, with Bank of America upgrading the stock to Buy and several firms setting price targets between $154 and $175. Overall, MarketBeat shows a Moderate Buy consensus with an average target price of $165.70.
• ExxonMobil reported solid quarterly results, posting $1.16 EPS versus expectations of $0.98 and revenue of $83.16 billion, while also paying a quarterly dividend of $1.03 per share for a 2.9% yield. Despite these positives, the stock was trading below its recent moving averages amid pressure from weaker oil prices.

ACT Capital Management LLC acquired a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 82,500 shares of the oil and gas company's stock, valued at approximately $9,928,000. ExxonMobil accounts for 8.0% of ACT Capital Management LLC's portfolio, making the stock its 3rd biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of XOM. Norges Bank acquired a new stake in shares of ExxonMobil in the fourth quarter valued at $7,625,063,000. Franklin Resources Inc. boosted its holdings in ExxonMobil by 7.4% during the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock worth $4,366,655,000 after buying an additional 2,660,910 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in ExxonMobil by 218.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock worth $155,696,000 after buying an additional 2,546,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in ExxonMobil by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock worth $1,925,119,000 after buying an additional 2,465,410 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in ExxonMobil by 334.4% in the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after purchasing an additional 2,357,467 shares during the period. 61.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. TD Cowen reissued a "buy" rating on shares of ExxonMobil in a report on Monday. Bank of America upgraded ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price objective on the stock in a report on Tuesday. BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the company a "neutral" rating in a research report on Friday, April 17th. Citigroup boosted their price objective on ExxonMobil from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. Finally, Morgan Stanley decreased their price objective on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $165.70.

ExxonMobil Trading Down 0.9%

Shares of ExxonMobil stock opened at $140.64 on Thursday. 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 $582.93 billion, a P/E ratio of 23.72, a P/E/G ratio of 0.60 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. The business's 50 day moving average is $150.85 and its 200-day moving average is $143.10.

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

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is 69.48%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, saying the recent pullback has made the stock look undervalued. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil advanced growth plans in Guyana, applying for an additional 35-well exploration campaign in the Stabroek block, which could support long-term production growth. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Positive Sentiment: Exxon signed a preliminary agreement to supply LNG to South Africa’s first planned import terminal, adding another international gas opportunity and reinforcing its LNG expansion strategy. Exxon Mobil signs deal to supply South Africa's first planned LNG terminal
• Neutral Sentiment: Analysts and market commentary continue to describe ExxonMobil as a relatively resilient, low-cost energy major, with some brokerages maintaining a Moderate Buy view despite oil-price volatility. Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
• Neutral Sentiment: Sector-wide energy shares are weaker as Brent and WTI fall on hopes for reduced Middle East supply risk, which is limiting upside for ExxonMobil in the near term. Sector Update: Energy Stocks Lower Wednesday Afternoon
• Negative Sentiment: Oil-market headlines tied to U.S.-Iran peace hopes and a possible reopening of the Strait of Hormuz have pressured crude prices, which can weigh on ExxonMobil’s earnings expectations and stock performance. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Some recent commentary is explicitly warning investors away from XOM, highlighting concerns tied to the oil-price backdrop and valuation versus alternatives. 2 reasons to avoid XOM and 1 stock to buy instead

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.

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