Amundi Decreases Stake in ExxonMobil Corporation $XOM

Key Points

• Amundi reduced its ExxonMobil stake by 8.9% in the second quarter, selling 2.19 million shares and retaining 22.3 million shares worth approximately $3.05 billion. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil reported quarterly EPS of $3.52, slightly below the $3.56 consensus, while revenue of $114.53 billion exceeded estimates. The company declared a quarterly dividend of $1.03, equivalent to a 2.6% yield and a $4.12 annualized payout.
• Analysts maintain a generally cautious view, with a consensus “Hold” rating and an average price target of $167.45 versus the stock’s reported $159.53 price. Higher oil prices, refining strength and production growth support the outlook, while falling crude prices remain a key risk.

Amundi lessened its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,318,051 shares of the oil and gas company's stock after selling 2,193,105 shares during the quarter. ExxonMobil makes up about 0.7% of Amundi's portfolio, making the stock its 19th biggest holding. Amundi owned approximately 0.54% of ExxonMobil worth $3,051,324,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kirkwood Financial Services acquired a new stake in shares of ExxonMobil in the second quarter valued at about $240,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in ExxonMobil during the second quarter worth about $164,161,000. California State Teachers Retirement System boosted its position in ExxonMobil by 14,136.6% during the second quarter. California State Teachers Retirement System now owns 696,207,635 shares of the oil and gas company's stock worth $95,185,508,000 after acquiring an additional 691,317,352 shares during the last quarter. Tanager Wealth Management LLP grew its stake in ExxonMobil by 15.0% during the 2nd quarter. Tanager Wealth Management LLP now owns 8,164 shares of the oil and gas company's stock valued at $1,116,000 after acquiring an additional 1,066 shares in the last quarter. Finally, Readystate Asset Management LP acquired a new stake in ExxonMobil in the 2nd quarter valued at about $29,775,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Up 0.0%

Shares of XOM opened at $159.53 on Monday. The firm has a market cap of $661.24 billion, a P/E ratio of 20.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.18. ExxonMobil Corporation has a 12-month low of $108.35 and a 12-month high of $176.41. The company's 50-day moving average price is $152.97 and its 200 day moving average price is $152.28. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). The company had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the previous year, the company earned $1.64 EPS. On average, sell-side analysts forecast that ExxonMobil Corporation will post 11.98 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil's dividend payout ratio is currently 53.02%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices and tighter refining capacity could support near-term earnings. Growth from Guyana and the Permian Basin strengthens ExxonMobil’s production outlook. Can ExxonMobil Benefit From the Current Energy Market Tightness?
• Positive Sentiment: ExxonMobil’s dividend remains a key attraction. The company appears positioned for a 44th consecutive annual payout increase, while second-quarter free cash flow exceeded dividend payments by nearly $13 billion. Management has also indicated that free cash flow could potentially double by 2030. 2 Energy Dividend Stocks With Growing Payouts, Led by ExxonMobil
• Positive Sentiment: Recent investment commentary continues to identify XOM as an attractive value and high-yield income stock, which may support demand from long-term and dividend-focused investors. 2 High-Yield Dividend Stocks Worth Buying Right Now
• Neutral Sentiment: The bullish outlook depends heavily on sustained oil prices and refining tightness. ExxonMobil’s latest reported quarter included earnings per share below consensus, although revenue exceeded expectations.
• Negative Sentiment: ExxonMobil was reportedly excluded from a White House meeting with major oil executives focused on gasoline prices, refinery capacity and retail fuel costs. The exclusion was linked to prior political friction over potential investments in Venezuela, creating concerns about regulatory access and political relations. ExxonMobil Was Excluded From a White House Oil Meeting
• Negative Sentiment: A sharp decline in crude prices remains the primary risk to ExxonMobil’s cash flow, earnings and dividend coverage despite its current financial strength. Exxon’s Dividend Looks Safe Today—but What If Oil Prices Tumble?

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of ExxonMobil from $168.00 to $177.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Mizuho dropped their price target on ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Citigroup reaffirmed a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. Wall Street Zen upgraded ExxonMobil to a "hold" rating in a research report on Saturday. Finally, Freedom Capital raised ExxonMobil from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Ten investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $167.45.

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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