Allstate Corp Acquires 171,004 Shares of ExxonMobil Corporation $XOM

Key Points

• Allstate Corp significantly increased its ExxonMobil stake in Q4, buying 171,004 more shares and boosting its holdings by 108.8% to 328,174 shares worth about $39.5 million.
• ExxonMobil recently reported better-than-expected quarterly earnings, with EPS of $1.16 versus estimates of $0.98 and revenue of $83.16 billion, up 2.4% year over year.
• The company also announced a quarterly dividend of $1.03 per share, implying an annualized payout of $4.12 and a dividend yield of 2.7%.

Allstate Corp raised its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 108.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,174 shares of the oil and gas company's stock after purchasing an additional 171,004 shares during the quarter. ExxonMobil accounts for approximately 0.5% of Allstate Corp's portfolio, making the stock its 26th largest position. Allstate Corp's holdings in ExxonMobil were worth $39,492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Berbice Capital Management LLC bought a new stake in shares of ExxonMobil in the 4th quarter worth $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil in the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 187 shares in the last quarter. Key Capital Management INC bought a new stake in shares of ExxonMobil in the 4th quarter worth $28,000. Finally, Westfuller Advisors LLC bought a new stake in shares of ExxonMobil in the 3rd quarter worth $30,000. Institutional investors own 61.80% of the company's stock.

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the sale, the vice president directly owned 17,124 shares of the company's stock, valued at approximately $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.03% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on XOM shares. HSBC upped their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research note on Friday, March 20th. Bank of America upped their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Sanford C. Bernstein reduced their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Zacks Research upgraded shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Finally, TD Cowen reduced their price target on shares of ExxonMobil from $175.00 to $172.00 and set a "buy" rating for the company in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $163.95.

ExxonMobil Price Performance

NYSE XOM opened at $154.82 on Tuesday. The company has a market cap of $641.71 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 0.68 and a beta of 0.19. ExxonMobil Corporation has a 52 week low of $101.18 and a 52 week high of $176.41. 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 firm's 50-day simple moving average is $155.82 and its two-hundred day simple moving average is $139.41.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the prior year, the firm earned $1.76 earnings per share. The company's revenue was up 2.4% compared to the same quarter last year. Research analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil's dividend payout ratio is presently 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.

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