Employees Provident Fund Board Invests $238.97 Million in ExxonMobil Corporation $XOM

Key Points

• Employees Provident Fund Board disclosed a new stake in ExxonMobil, buying 1,985,790 shares valued at about $238.97 million. The position makes up roughly 1.8% of its portfolio and is its 21st largest holding.
• Other institutional investors also added to or initiated positions in XOM, and hedge funds and other institutions now own 61.80% of the company’s stock. This suggests continued institutional interest despite recent market weakness.
• Analysts remain generally constructive on ExxonMobil, with a consensus rating of “Moderate Buy” and an average price target of $165.70. The stock has also attracted several recent upgrades, including Bank of America moving it to a buy rating.

Employees Provident Fund Board acquired a new stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,985,790 shares of the oil and gas company's stock, valued at approximately $238,970,000. ExxonMobil accounts for about 1.8% of Employees Provident Fund Board's investment portfolio, making the stock its 21st largest position.

A number of other large investors also recently modified their holdings of XOM. S Harris Financial Group LLC purchased a new stake in ExxonMobil in the 4th quarter worth $248,000. EJMK Ventures LLC purchased a new position in shares of ExxonMobil in the fourth quarter valued at about $810,000. Targeted Financial Services LLC bought a new position in shares of ExxonMobil in the fourth quarter worth about $1,834,000. Tulsa Wealth Advisors INC bought a new position in shares of ExxonMobil in the fourth quarter worth about $1,084,000. Finally, Integrated Investment Consultants LLC grew its position in shares of ExxonMobil by 88.3% during the fourth quarter. Integrated Investment Consultants LLC now owns 19,881 shares of the oil and gas company's stock worth $2,392,000 after purchasing an additional 9,324 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on XOM. Bank of America raised ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 target price on the stock in a research note on Tuesday, June 16th. Sanford C. Bernstein dropped 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. Mizuho increased their price objective on shares of ExxonMobil from $159.00 to $175.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Jefferies Financial Group upped their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a research report on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, ExxonMobil currently has a consensus rating of "Moderate Buy" and an average price target of $165.70.

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $137.84 on Friday. The firm has a fifty day simple moving average of $149.98 and a two-hundred day simple moving average of $143.22. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $571.36 billion, a P/E ratio of 23.25, a PEG ratio of 0.58 and a beta of 0.16.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly 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. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter last year, the firm earned $1.76 EPS. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. 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 presently 69.48%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s production has reached its highest level in more than 40 years, supported by aggressive output growth in Guyana, Texas, and Papua New Guinea. Higher volumes at lower costs should support cash flow and investor confidence. Article: Darren Woods’ Game Plan at Exxon Mobil: Produce More Oil for Less Money
• Positive Sentiment: ExxonMobil is expanding its long-term growth pipeline in Guyana’s Stabroek Block, with plans to drill up to 35 new exploration and appraisal wells from 2028 through 2033. This could extend reserve growth and future production. Article: ExxonMobil Advances New Exploration Push in Guyana's Stabroek Block
• Neutral Sentiment: ExxonMobil reportedly struck a deal with ZET for South Africa’s first LNG terminal, highlighting continued international LNG expansion efforts. This is strategically constructive, but the near-term stock impact is unclear. Article: ExxonMobil and ZET strike deal for South Africa’s first LNG terminal
• Neutral Sentiment: Commentary suggesting ExxonMobil could pursue another megamerger or LNG acquisition may support long-term strategic speculation, but it is not a confirmed catalyst. Article: ExxonMobil Has Its Sights on Its Next Megamerger. Here's the Oil Stock It Should Buy.
• Negative Sentiment: ExxonMobil shares fell alongside other oil stocks after the U.S. and Iran reached an interim agreement that could reopen the Strait of Hormuz and lift sanctions on Tehran’s oil. The deal pressures crude prices, which can reduce upstream earnings for XOM. Article: ExxonMobil and Occidental Petroleum Stocks Trade Down, What You Need To Know
• Negative Sentiment: Recent market commentary notes ExxonMobil has been under sustained selling pressure over the past days and weeks, reflecting weaker oil prices and a softer sector backdrop. Article: Exxon Mobil (XOM) Stock Could Be 18.9% Undervalued Despite Recent Pullback

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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