Core Capital Management & Research inc. Buys Shares of 33,593 ExxonMobil Corporation $XOM

Key Points

• Core Capital Management & Research purchased 33,593 ExxonMobil shares worth approximately $4.6 million in the second quarter, making XOM 2.4% of its portfolio. Institutional investors collectively own 61.8% of the company.
• ExxonMobil shares opened at $164.41, up 2.3%, amid higher oil prices and a new offshore Angola discovery. The company also plans to assume operatorship of Papua LNG, while risks include commodity-price volatility and ongoing geopolitical and environmental disputes.
• ExxonMobil declared a quarterly dividend of $1.03 per share, equivalent to a 2.5% annualized yield. Analysts are broadly divided, with ten Buy ratings and twelve Holds, producing an average rating of Hold and a $167.45 price target.

Core Capital Management & Research inc. bought a new stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 33,593 shares of the oil and gas company's stock, valued at approximately $4,593,000. ExxonMobil comprises 2.4% of Core Capital Management & Research inc.'s holdings, making the stock its 16th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Berbice Capital Management LLC acquired a new stake in ExxonMobil in the fourth quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. increased 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 during the last quarter. Aventus Investment Advisors Inc. bought a new stake in shares of ExxonMobil in the 2nd quarter worth about $27,000. Keewaydin Investments LLC acquired a new stake in shares of ExxonMobil in the 4th quarter valued at about $33,000. Finally, Portus Wealth Advisors LLC acquired a new stake in shares of ExxonMobil in the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: New Angola oil discovery: ExxonMobil, Angola’s National Oil, Gas and Biofuels Agency and Block 15 partners announced an oil discovery at the Vicango Este-01 exploration well. The discovery—reported as the 20th in Block 15—could strengthen ExxonMobil’s long-term production pipeline, although its eventual financial contribution depends on appraisal and development. Angola offshore discovery article
• Positive Sentiment: Oil-price tailwind: Brent crude moved above $100 a barrel and West Texas Intermediate surpassed $95 as Middle East tensions increased supply-risk concerns. Higher crude prices generally support ExxonMobil’s upstream earnings and cash flow, helping explain the stock’s advance. Energy ETFs and oil prices article
• Positive Sentiment: Portfolio and balance-sheet support: ExxonMobil is set to assume operatorship of Papua LNG from TotalEnergies, while its Pioneer subsidiary launched cash tender offers for $2.1 billion of senior notes. The transactions may improve portfolio control and optimize debt, reinforcing the company’s financial flexibility. Papua LNG operatorship article
• Neutral Sentiment: Investor presentation and valuation: ExxonMobil’s Barclays energy conference presentation highlighted its operating strategy and exposure to favorable oil prices. Commentary noted that the stock has gained substantially this year and could approach $200 if crude prices and earnings remain strong, but that outcome is highly dependent on external commodity markets. ExxonMobil oil prices and $200 outlook
• Negative Sentiment: Key risks remain: Analysts and commentators warned that the recent rally may rely heavily on a temporary “war premium” in crude prices. ExxonMobil also faces ongoing uncertainty around Kazakhstan’s Kashagan environmental dispute and potential political risk in Venezuela. Kashagan dispute article

ExxonMobil Stock Up 2.3%

NYSE:XOM opened at $164.41 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock has a 50 day moving average of $154.49 and a 200-day moving average of $152.54. The firm has a market capitalization of $681.48 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 0.98 and a beta of 0.18. ExxonMobil Corporation has a 52 week low of $110.39 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The company had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same period last year, the business posted $1.64 EPS. Analysts predict that ExxonMobil Corporation will post 11.98 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil's payout ratio is presently 53.02%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on XOM shares. UBS Group reiterated a "buy" rating on shares of ExxonMobil in a research note on Tuesday. Morgan Stanley upped their price objective on ExxonMobil from $168.00 to $177.00 and gave the company an "overweight" rating in a research note on Wednesday, August 19th. TD Cowen increased their target price on ExxonMobil from $155.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Weiss Ratings upgraded ExxonMobil from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 4th. Finally, Zacks Research cut ExxonMobil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $167.45.

About ExxonMobil

Exxon Mobil Corporation, doing business as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and marketing of crude oil and natural gas. Its upstream operations support oil and natural gas production in multiple regions worldwide, while its downstream businesses refine crude oil into fuels and other petroleum products for commercial, industrial and consumer markets.

Through its product solutions businesses, ExxonMobil manufactures and markets lubricants, specialty fluids, petroleum-derived products and chemical products, including commodity and performance chemicals used in packaging, automotive components, construction materials and other industrial applications.

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