Evolve Private Wealth LLC Buys Shares of 67,149 ExxonMobil Corporation $XOM

Key Points

• Evolve Private Wealth LLC opened a new position in ExxonMobil during the fourth quarter, buying 67,149 shares valued at about $8.08 million.
• ExxonMobil recently reported better-than-expected quarterly results, with EPS of $1.16 versus estimates of $0.98 and revenue of $83.16 billion beating forecasts.
• Analysts remain generally constructive on the stock: Bank of America upgraded ExxonMobil to Buy with a $154 price target, while the broader consensus rating is still Moderate Buy.

Evolve Private Wealth LLC bought a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 67,149 shares of the oil and gas company's stock, valued at approximately $8,081,000.

A number of other large investors have also recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of ExxonMobil by 2.0% in the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company's stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares in the last quarter. Norges Bank acquired a new stake in shares of ExxonMobil during the 4th quarter valued at $7,625,063,000. Bank of New York Mellon Corp grew its position in ExxonMobil by 1.2% during the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company's stock worth $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp grew its position in ExxonMobil by 1.0% during the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock worth $4,963,934,000 after acquiring an additional 445,283 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in ExxonMobil by 7.4% during 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 acquiring an additional 2,660,910 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Stock Performance

Shares of XOM opened at $140.64 on Thursday. 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 50 day moving average price of $150.85 and a two-hundred day moving average price of $143.10. The firm has a market capitalization of $582.93 billion, a P/E ratio of 23.72, a P/E/G ratio of 0.60 and a beta of 0.16. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The firm 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%.The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.76 EPS. Equities analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's payout ratio is currently 69.48%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, saying the recent pullback has made the stock look undervalued. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil advanced growth plans in Guyana, applying for an additional 35-well exploration campaign in the Stabroek block, which could support long-term production growth. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Positive Sentiment: Exxon signed a preliminary agreement to supply LNG to South Africa’s first planned import terminal, adding another international gas opportunity and reinforcing its LNG expansion strategy. Exxon Mobil signs deal to supply South Africa's first planned LNG terminal
• Neutral Sentiment: Analysts and market commentary continue to describe ExxonMobil as a relatively resilient, low-cost energy major, with some brokerages maintaining a Moderate Buy view despite oil-price volatility. Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
• Neutral Sentiment: Sector-wide energy shares are weaker as Brent and WTI fall on hopes for reduced Middle East supply risk, which is limiting upside for ExxonMobil in the near term. Sector Update: Energy Stocks Lower Wednesday Afternoon
• Negative Sentiment: Oil-market headlines tied to U.S.-Iran peace hopes and a possible reopening of the Strait of Hormuz have pressured crude prices, which can weigh on ExxonMobil’s earnings expectations and stock performance. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Some recent commentary is explicitly warning investors away from XOM, highlighting concerns tied to the oil-price backdrop and valuation versus alternatives. 2 reasons to avoid XOM and 1 stock to buy instead

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays lifted their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Scotiabank lifted their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Zacks Research downgraded ExxonMobil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Weiss Ratings lowered ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, Sanford C. Bernstein decreased their target price on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, ExxonMobil has a consensus rating of "Moderate Buy" and a consensus price target of $165.70.

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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