Deprince Race & Zollo Inc. Cuts Position in ExxonMobil Corporation $XOM

Key Points

• Deprince Race & Zollo Inc. reduced its ExxonMobil stake by 10.4% in the first quarter, selling 30,695 shares and leaving it with 264,700 shares valued at about $44.9 million.
• ExxonMobil reported better-than-expected quarterly earnings of $1.16 per share versus estimates of $0.98, while revenue came in above forecasts at $83.16 billion and rose 2.4% year over year.
• The company continues to return cash to shareholders, recently paying a $1.03 quarterly dividend that implies a 3.0% yield, while analysts remain generally constructive with a Moderate Buy consensus and an average price target of $164.70.

Deprince Race & Zollo Inc. trimmed its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,700 shares of the oil and gas company's stock after selling 30,695 shares during the period. Deprince Race & Zollo Inc.'s holdings in ExxonMobil were worth $44,909,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of ExxonMobil during the fourth quarter valued at about $7,625,063,000. Franklin Resources Inc. grew its position in shares of ExxonMobil by 7.4% in the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock worth $4,366,655,000 after buying an additional 2,660,910 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of ExxonMobil by 218.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock worth $155,696,000 after acquiring an additional 2,546,791 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of ExxonMobil by 18.2% during 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 acquiring an additional 2,465,410 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in ExxonMobil by 334.4% during the fourth 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 acquiring an additional 2,357,467 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Stock Performance

Shares of XOM opened at $137.03 on Monday. The stock has a 50-day moving average of $147.37 and a two-hundred day moving average of $144.79. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a market cap of $567.99 billion, a P/E ratio of 23.11, a P/E/G ratio of 0.58 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating 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 analyst estimates of $81.13 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The company's revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that ExxonMobil Corporation will post 11.9 EPS for the current year.

ExxonMobil Announces Dividend

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

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy reached a key milestone in their Cyprus offshore gas project, with a Declaration of Marketability helping advance the Glaucus and Pegasus fields toward development. That supports Exxon’s long-term growth pipeline. XOM, QatarEnergy Reach Milestone in Cyprus Offshore Gas Development
• Positive Sentiment: TD Cowen kept a buy rating on ExxonMobil while lowering its price target to $155 from $172, which still implies upside from current levels and suggests Wall Street remains constructive on the stock.
• Positive Sentiment: A Seeking Alpha piece upgraded ExxonMobil, arguing the valuation is attractive and that the company has overlooked market opportunities. That reinforces the view that XOM may have room to rerate. ExxonMobil: I'm Re-Entering As Valuation Is Attractive With Overlooked Market Opportunities (Rating Upgrade)
• Neutral Sentiment: Exxon completed its legal redomicile from New Jersey to Texas and also won a Supreme Court ruling that revives an old lawsuit, removing some uncertainty but not directly changing the operating outlook. Exxon (XOM) flashes key signals on New Jersey exit
• Neutral Sentiment: Analyst and media coverage noted that Exxon can still grow production even with oil below $70, and a bullish market note said the company could outperform if cash flow remains strong. These are supportive but largely restate Exxon’s resilience. Can ExxonMobil's Upstream Business Thrive With Oil Below $70?
• Negative Sentiment: President Trump is pressuring Big Oil to lower gasoline prices ahead of the midterm elections, which could increase political scrutiny on ExxonMobil and the broader sector if margin pressure follows. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler lowered their target price on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Zacks Research downgraded ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Citigroup raised their price objective on ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, April 2nd. Sanford C. Bernstein decreased their price target on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. Finally, Morgan Stanley lowered their price target on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a report on Monday, June 29th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, ExxonMobil has an average rating of "Moderate Buy" and an average price target of $164.70.

About ExxonMobil

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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