Bessemer Group Inc. Buys 415,437 Shares of ExxonMobil Corporation $XOM

Key Points

• Bessemer Group Inc. increased its ExxonMobil stake by 15.9% in Q1, buying 415,437 additional shares and bringing its total holding to 3,021,114 shares valued at about $512.6 million.
• Wall Street sentiment is constructive, with ExxonMobil carrying an average “Moderate Buy” rating and an average price target of $164.45. Several analysts recently raised their targets, including Scotiabank, Barclays, and Wells Fargo.
• ExxonMobil’s latest results and dividend remain solid: the company beat quarterly EPS and revenue estimates, and it paid a quarterly dividend of $1.03 per share, implying a 2.8% annualized yield.

Bessemer Group Inc. grew its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,021,114 shares of the oil and gas company's stock after buying an additional 415,437 shares during the period. ExxonMobil makes up about 0.8% of Bessemer Group Inc.'s holdings, making the stock its 20th biggest holding. Bessemer Group Inc. owned 0.07% of ExxonMobil worth $512,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in XOM. Berbice Capital Management LLC purchased a new position in ExxonMobil in the fourth quarter worth $26,000. Midwest Capital Advisors LLC purchased a new stake in ExxonMobil during the fourth quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in ExxonMobil by 456.1% during the fourth 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 during the last quarter. Key Capital Management INC bought a new stake in ExxonMobil during the fourth quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil in the 4th quarter worth about $32,000. Institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several recent research reports. Scotiabank increased their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Barclays upped their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a "neutral" rating in a research note on Friday, April 17th. Wolfe Research lowered shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a report on Tuesday, April 21st. Finally, Wells Fargo & Company upped their price objective on shares of ExxonMobil from $183.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, ExxonMobil presently has an average rating of "Moderate Buy" and an average price target of $164.45.

ExxonMobil Trading Up 0.8%

Shares of XOM stock opened at $148.50 on Tuesday. The business has a 50-day moving average of $145.76 and a 200 day moving average of $146.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The stock has a market capitalization of $615.50 billion, a PE ratio of 25.04, a P/E/G ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping 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 period in the previous year, the firm earned $1.76 EPS. The business's quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that ExxonMobil Corporation will post 11.38 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's payout ratio is presently 69.48%.

ExxonMobil Company 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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