Corient Private Wealth LLC Increases Stake in ExxonMobil Corporation $XOM

Key Points

• Corient Private Wealth LLC increased its ExxonMobil stake by 46.8% in the fourth quarter, adding 1.4 million shares and bringing its holdings to 4.39 million shares worth about $528.2 million.
• ExxonMobil reported better-than-expected quarterly results, with EPS of $1.16 versus estimates of $0.98 and revenue of $83.16 billion, up 2.4% year over year.
• The company also maintained a 3.0% dividend yield after paying a quarterly dividend of $1.03 per share, while analysts currently rate the stock a consensus Moderate Buy with a target price of $165.70.

Corient Private Wealth LLC boosted its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 46.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,389,062 shares of the oil and gas company's stock after purchasing an additional 1,399,757 shares during the period. Corient Private Wealth LLC owned approximately 0.10% of ExxonMobil worth $528,180,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Capital Investment Advisors LLC lifted its position in shares of ExxonMobil by 6.6% during the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock worth $27,857,000 after purchasing an additional 14,233 shares during the last quarter. New Age Alpha Advisors LLC grew its holdings in ExxonMobil by 5.6% in the 3rd quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock valued at $18,778,000 after buying an additional 8,853 shares during the last quarter. Roberts Capital Advisors LLC acquired a new stake in ExxonMobil in the 3rd quarter valued at approximately $1,240,000. Midland Wealth Advisors LLC increased its position in ExxonMobil by 95.0% in the 3rd quarter. Midland Wealth Advisors LLC now owns 44,675 shares of the oil and gas company's stock worth $5,037,000 after buying an additional 21,766 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in ExxonMobil by 9.0% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 410,046 shares of the oil and gas company's stock worth $46,233,000 after buying an additional 33,950 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $137.84 on Friday. The firm has a market capitalization of $571.36 billion, a PE ratio of 23.25, a PEG ratio of 0.60 and a beta of 0.16. 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 1-year low of $105.53 and a 1-year high of $176.41. The business's 50 day moving average is $150.34 and its 200-day moving average is $143.26.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 earnings per share. Sell-side analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. ExxonMobil's dividend payout ratio is currently 69.48%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil advanced a major new exploration push in Guyana’s Stabroek Block, planning up to 35 additional wells from 2028 through 2033, which could add long-term production growth. Article Title
• Positive Sentiment: The company signed a preliminary deal to supply LNG to South Africa’s first planned import terminal, expanding its international gas footprint and supporting its LNG growth strategy. Article Title
• Positive Sentiment: Analysts continue to view ExxonMobil as relatively resilient versus the broader oil market because of its low-cost, diversified production base. Article Title

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Piper Sandler dropped their target price on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. JPMorgan Chase & Co. upped their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Sanford C. Bernstein decreased their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Finally, Weiss Ratings downgraded shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.70.

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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