DNB Asset Management AS Increases Position in ExxonMobil Corporation $XOM

Key Points

• DNB Asset Management AS increased its ExxonMobil stake by 5.4% in the fourth quarter, adding 55,353 shares to bring its total holdings to 1,075,263 shares worth about $129.4 million.
• ExxonMobil reported better-than-expected quarterly results, with EPS of $1.16 versus the $0.98 estimate and revenue of $83.16 billion topping forecasts. The company also maintained a solid balance sheet and a quarterly dividend of $1.03 per share, yielding about 2.6% annualized.
• Recent developments were largely constructive for the stock, including a Texas jury ruling that ExxonMobil was not liable in a long-running investor lawsuit and renewed drilling activity in Guyana. Analysts remain mixed but generally positive, with a consensus rating of Moderate Buy.

DNB Asset Management AS raised its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,075,263 shares of the oil and gas company's stock after acquiring an additional 55,353 shares during the quarter. DNB Asset Management AS's holdings in ExxonMobil were worth $129,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in XOM. Eagle Capital Management LLC increased its holdings in ExxonMobil by 15.3% during the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock valued at $337,000 after acquiring an additional 376 shares in the last quarter. Caxton Associates LLP purchased a new position in ExxonMobil during the 1st quarter valued at about $305,000. Sivia Capital Partners LLC increased its holdings in ExxonMobil by 1.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock valued at $1,211,000 after acquiring an additional 207 shares in the last quarter. United Bank increased its holdings in ExxonMobil by 2.8% during the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company's stock valued at $2,352,000 after acquiring an additional 600 shares in the last quarter. Finally, Schnieders Capital Management LLC. increased its holdings in ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after acquiring an additional 5,443 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $157.72 on Friday. The company has a market cap of $653.72 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 0.67 and a beta of 0.19. ExxonMobil Corporation has a 12 month low of $101.18 and a 12 month high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company has a 50-day simple moving average of $155.05 and a 200-day simple moving average of $137.45.

ExxonMobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. During the same period last year, the company earned $1.76 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that ExxonMobil Corporation will post 11.5 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a $1.03 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Insider Activity

In related news, VP Darrin L. Talley sold 1,080 shares of the firm's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the sale, the vice president directly owned 17,124 shares of the company's stock, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.03% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on XOM shares. Wells Fargo & Company raised their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. HSBC raised their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the company a "hold" rating in a report on Friday, March 20th. TD Cowen lowered their price target on shares of ExxonMobil from $175.00 to $172.00 and set a "buy" rating for the company in a report on Friday, April 10th. Jefferies Financial Group lifted their price target on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Finally, Loop Capital set a $123.00 price target on shares of ExxonMobil in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil has an average rating of "Moderate Buy" and an average target price of $163.95.

ExxonMobil 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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