Brighton Jones LLC Increases Position in ExxonMobil Corporation $XOM

Key Points

• Brighton Jones LLC increased its ExxonMobil stake by 15.2% in the first quarter, adding 21,183 shares and bringing its total to 160,235 shares valued at about $27.2 million.
• Several other institutional investors also boosted their positions in ExxonMobil, and 61.8% of the stock is now held by hedge funds and other institutions.
• ExxonMobil recently beat quarterly earnings estimates and pays a 3.0% dividend yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $164.45.

Brighton Jones LLC lifted its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,235 shares of the oil and gas company's stock after acquiring an additional 21,183 shares during the period. ExxonMobil accounts for 1.1% of Brighton Jones LLC's portfolio, making the stock its 19th largest position. Brighton Jones LLC's holdings in ExxonMobil were worth $27,186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in ExxonMobil in the fourth quarter worth about $7,625,063,000. Mercer Global Advisors Inc. ADV lifted its position in shares of 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 valued at $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 shares of ExxonMobil by 18.2% in the 4th 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 valued at $1,925,119,000 after buying an additional 2,465,410 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of ExxonMobil by 334.4% in the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock valued at $368,541,000 after buying an additional 2,357,467 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its position in shares of ExxonMobil by 17,312.4% in the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock worth $370,514,000 after buying an additional 2,171,322 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on XOM. Barclays boosted their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Morgan Stanley lowered their target price on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a research note on Monday, June 29th. UBS Group lifted their price target on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Weiss Ratings downgraded ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, Zacks Research lowered ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.45.

ExxonMobil Stock Down 2.7%

XOM stock opened at $137.31 on Friday. The firm has a 50 day moving average of $146.53 and a 200 day moving average of $145.43. The stock has a market capitalization of $569.12 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last released 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 net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the firm earned $1.76 EPS. ExxonMobil's revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that ExxonMobil Corporation will post 11.64 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. ExxonMobil's payout ratio is 69.48%.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM's Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

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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