Diversified Management Inc. Sells 25,775 Shares of ExxonMobil Corporation $XOM

Key Points

• Diversified Management Inc. cut its ExxonMobil stake by 77.5% in the second quarter, selling 25,775 shares and retaining 7,501 shares valued at approximately $1.03 million.
• ExxonMobil reported strong quarterly improvement, including $14.5 billion in net income, $23.6 billion in operating cash flow and record Permian production, though adjusted EPS of $3.52 slightly missed estimates.
• The company declared a quarterly dividend of $1.03 per share, equivalent to a 2.6% annualized yield, while analysts maintain a consensus “Hold” rating with a $163.29 price target.

Diversified Management Inc. lessened its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 77.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,501 shares of the oil and gas company's stock after selling 25,775 shares during the period. Diversified Management Inc.'s holdings in ExxonMobil were worth $1,026,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOM. Assetmark Inc. increased its stake in shares of ExxonMobil by 8.3% in the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company's stock valued at $83,525,000 after buying an additional 37,666 shares in the last quarter. Charles Schwab Trust Co lifted its position in ExxonMobil by 392.9% during the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company's stock worth $16,710,000 after buying an additional 97,424 shares in the last quarter. Sanctuary Advisors LLC lifted its position in ExxonMobil by 2.3% during the 4th quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company's stock worth $126,166,000 after buying an additional 23,668 shares in the last quarter. Midwest Trust Co grew its holdings in ExxonMobil by 3.9% during the 1st quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company's stock worth $120,623,000 after acquiring an additional 26,411 shares during the last quarter. Finally, King Luther Capital Management Corp increased its position in ExxonMobil by 2.4% in the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company's stock valued at $200,366,000 after acquiring an additional 38,492 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s record Permian production gives it significant leverage to higher crude prices as uncertainty surrounding the Strait of Hormuz and Middle East supply disruptions supports oil. Brent crude was recently reported near $89 per barrel after rebounding from early-July lows. Exxon Stock Jumps 3.3% as Oil Supply Fears Return
• Positive Sentiment: Second-quarter results showed sharply improved profitability, with net income of approximately $14.5 billion, operating cash flow of $23.6 billion and free cash flow of $17.2 billion. Production also reached records in the Permian and diesel operations, reinforcing the company’s operating momentum. ExxonMobil gains as strong quarterly results and higher oil prices bolster sentiment
• Positive Sentiment: ExxonMobil returned $9.4 billion to shareholders during the quarter through $4.3 billion of dividends and $5.1 billion of share repurchases. The company also declared a quarterly dividend of $1.03, supporting its appeal to income-focused investors. Exxon Handed Shareholders $9.4 Billion in One Quarter
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, while recently reported price targets range from $154 to $182, indicating upside potential for some investors but limited conviction across Wall Street. ExxonMobil Receives Consensus Rating of Hold
• Negative Sentiment: Adjusted earnings of $3.52 per share fell slightly short of analyst expectations, despite rising substantially from the prior year. The miss could restrain near-term gains if oil prices weaken or refining margins deteriorate. Exxon’s Profit Missed. So Why Is the Dividend Getting Stronger?
• Negative Sentiment: President Trump criticized ExxonMobil and Chevron for making “too much money” amid high fuel prices, creating a political risk that could lead to calls for increased regulation, taxes or other measures affecting oil producers. ExxonMobil vs. Chevron: Trump Attacks the Oil Giants

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $159.78 on Wednesday. The stock has a market capitalization of $662.29 billion, a P/E ratio of 20.56, a P/E/G ratio of 0.60 and a beta of 0.17. ExxonMobil Corporation has a 1-year low of $105.67 and a 1-year high of $176.41. 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 business has a 50-day moving average price of $146.53 and a two-hundred day moving average price of $150.03.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its 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). The business had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period last year, the business posted $1.64 EPS. Equities analysts predict that ExxonMobil Corporation will post 12.34 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is presently 53.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wolfe Research downgraded shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Bank of America cut shares of ExxonMobil from a "buy" rating to a "neutral" rating and increased their price target for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. TD Cowen raised their price target on shares of ExxonMobil from $155.00 to $168.00 and gave the company a "buy" rating in a report on Friday. Mizuho dropped their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Finally, Morgan Stanley reduced their price objective on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $163.29.

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source