Bank of America Corp DE Cuts Stock Position in ExxonMobil Corporation $XOM

Bank of America Corp DE reduced its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,483,813 shares of the oil and gas company's stock after selling 6,668,553 shares during the period. ExxonMobil accounts for about 0.8% of Bank of America Corp DE's portfolio, making the stock its 18th largest position. Bank of America Corp DE owned approximately 1.65% of ExxonMobil worth $11,618,964,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of XOM. Portus Wealth Advisors LLC purchased a new position in ExxonMobil in the first quarter worth $36,000. Berbice Capital Management LLC purchased a new stake in shares of ExxonMobil during the 4th quarter valued at $26,000. Midwest Capital Advisors LLC purchased a new stake in shares of ExxonMobil during the 4th quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. boosted its position 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 purchasing an additional 187 shares in the last quarter. Finally, Atlantic Private Wealth LLC boosted its position in shares of ExxonMobil by 776.9% in the 1st quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Performance

Shares of XOM stock opened at $156.80 on Thursday. 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 Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The business's 50 day moving average is $145.61 and its two-hundred day moving average is $148.32. The company has a market capitalization of $649.93 billion, a P/E ratio of 26.44, a P/E/G ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the prior year, the company posted $1.76 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that ExxonMobil Corporation will post 11.55 EPS for the current fiscal year.

Analyst Ratings Changes

XOM has been the subject of a number of recent analyst reports. UBS Group lifted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the company a "neutral" rating in a research note on Friday, April 17th. Sanford C. Bernstein decreased their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. DZ Bank upgraded shares of ExxonMobil to a "strong-buy" rating in a research note on Monday, July 6th. Finally, Weiss Ratings lowered shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.45.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices could support ExxonMobil’s cash flow and profit expectations, particularly ahead of its second-quarter earnings report scheduled for July 31. Analysts and market commentators are looking for stronger results, while the company’s long record of dividend increases and planned $20 billion annual share repurchases remain important shareholder-return advantages. Exxon Mobil Stock Trades Higher Wednesday: What's Driving the Move?
• Positive Sentiment: ExxonMobil agreed to a carbon-capture and storage project with Williams supporting natural-gas processing in Louisiana. The initiative could strengthen Exxon’s lower-carbon services and strategic relationship with a major midstream operator, although the financial impact is likely longer term. ExxonMobil agrees to new CCS project with Williams
• Neutral Sentiment: ExxonMobil is being highlighted as a favored energy holding in President Donald Trump’s disclosures and as a value stock by Zacks. These references may support investor interest, but they do not change the company’s near-term earnings or valuation.
• Negative Sentiment: Bank of America downgraded XOM from “buy” to “neutral,” citing limited remaining upside despite raising its price target to $158. The downgrade adds pressure after the stock’s strong year-to-date performance and premium valuation. Exxon Mobil Offers Limited Upside Potential
• Negative Sentiment: A hawkish shift from several Federal Reserve officials weighed on the broader market. Higher-for-longer interest rates could limit appetite for richly valued equities, even as energy companies benefit from stronger commodity prices. Stock Market Today, July 29

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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