Castleark Management LLC Purchases Shares of 64,460 ExxonMobil Corporation $XOM

Key Points

• Castleark Management acquired 64,460 ExxonMobil shares during the first quarter, valued at approximately $10.9 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil’s latest quarterly results exceeded expectations, with earnings of $1.16 per share versus the $0.98 consensus estimate and revenue of $83.16 billion. The company also maintains a quarterly dividend of $1.03 per share, representing a 2.7% annualized yield.
• XOM recently traded down 1.6% amid falling oil prices, while analysts maintained a “Moderate Buy” consensus rating and an average price target of $163.25.

Castleark Management LLC acquired a new position in ExxonMobil Corporation (NYSE:XOM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 64,460 shares of the oil and gas company's stock, valued at approximately $10,936,000.

A number of other large investors have also recently made changes to their positions in XOM. Norges Bank bought a new position in shares of ExxonMobil during the fourth quarter valued at approximately $7,625,063,000. Quantum Portfolio Management LLC bought a new stake in ExxonMobil in the first quarter valued at $965,932,000. Arrowstreet Capital Limited Partnership purchased a new position in ExxonMobil during the 1st quarter valued at $766,345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 worth $1,925,119,000 after purchasing an additional 2,465,410 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in 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 worth $368,541,000 after purchasing an additional 2,357,467 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s valuation may offer support. One analysis argues that the stock remains discounted based on discounted-cash-flow estimates and market multiples, despite its strong five-year performance and elevated oil prices. ExxonMobil Stock Could Be Cheap on Value Despite a 228% Run
• Positive Sentiment: The company is reportedly shifting new oil investment toward Nigeria and other African markets, potentially expanding its upstream growth opportunities and geographic diversification. Execution, political and operational risks remain considerations. ExxonMobil Is Moving New Oil Spending to Nigeria and Africa
• Neutral Sentiment: ExxonMobil is attracting unusually high investor search interest, which may increase near-term attention but does not itself change the company’s earnings outlook. Investors Heavily Search ExxonMobil
• Neutral Sentiment: ExxonMobil is among the major companies reporting during a particularly busy earnings week. Investors will look for updates on production, refining margins, capital spending and management’s outlook. Earnings Week Ahead
• Neutral Sentiment: Broader equities were mixed as markets awaited the Federal Reserve’s decision and additional earnings reports, leaving macroeconomic uncertainty as an important short-term influence on XOM. Equities Mixed Intraday as Markets Await Fed Decision
• Negative Sentiment: Oil prices fell as easing Middle East tensions reduced the geopolitical risk premium. Lower crude prices can pressure ExxonMobil’s upstream revenue, cash flow and profit expectations, helping explain why the stock weakened even as the broader market gained. Exxon Mobil Shares Fall as Oil Prices Tumble

ExxonMobil Trading Down 1.6%

ExxonMobil stock opened at $154.50 on Tuesday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The company has a market capitalization of $640.42 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 0.64 and a beta of 0.17. The business's fifty day simple moving average is $145.80 and its two-hundred day simple moving average is $147.84. 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 (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company's revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. As a group, equities analysts predict that ExxonMobil Corporation will post 11.55 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. 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. TD Cowen lowered their target price on ExxonMobil from $172.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, July 2nd. Citigroup reaffirmed a "neutral" rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. Finally, Scotiabank upped their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $163.25.

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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