ExxonMobil Corporation $XOM is Beese Fulmer Investment Management Inc.'s 5th Largest Position

Key Points

• Beese Fulmer Investment Management more than doubled its ExxonMobil stake in the fourth quarter, buying an additional 213,838 shares. ExxonMobil is now its 5th largest holding, worth about $49.9 million.
• ExxonMobil reported better-than-expected quarterly earnings, with EPS of $1.16 versus the $0.98 consensus and revenue of $83.16 billion, up 2.4% year over year. Analysts still expect the company to earn 11.5 EPS for the current fiscal year.
• The company announced a quarterly dividend of $1.03 per share, payable June 10, implying an annualized yield of 2.6%. ExxonMobil also continues to attract mostly positive analyst coverage, with a consensus rating of Moderate Buy.

Beese Fulmer Investment Management Inc. raised its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 106.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 414,906 shares of the oil and gas company's stock after buying an additional 213,838 shares during the period. ExxonMobil comprises 2.9% of Beese Fulmer Investment Management Inc.'s portfolio, making the stock its 5th largest holding. Beese Fulmer Investment Management Inc.'s holdings in ExxonMobil were worth $49,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Franklin Resources Inc. boosted its position in shares of ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock worth $4,366,655,000 after purchasing an additional 2,660,910 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of ExxonMobil by 218.4% in the third 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 purchasing an additional 2,546,791 shares during the period. AQR Capital Management LLC boosted its position in shares of ExxonMobil by 105.4% in the third quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company's stock worth $329,797,000 after purchasing an additional 1,501,235 shares during the period. Bessemer Group Inc. boosted its position in shares of ExxonMobil by 119.4% in the third quarter. Bessemer Group Inc. now owns 2,672,359 shares of the oil and gas company's stock worth $301,310,000 after purchasing an additional 1,454,308 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of ExxonMobil by 4.5% in the third quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company's stock worth $2,299,687,000 after purchasing an additional 886,087 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at ExxonMobil

In related news, VP Darrin L. Talley sold 2,150 shares of the company's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares in the company, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company's stock.

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $157.72 on Friday. 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 firm has a fifty day moving average price of $155.05 and a 200 day moving average price of $137.45. ExxonMobil Corporation has a fifty-two week low of $101.18 and a fifty-two week high of $176.41. The firm has a market cap of $653.72 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 0.69 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping 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 analyst estimates of $81.13 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. ExxonMobil's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that ExxonMobil Corporation will post 11.5 earnings per share for the current fiscal 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 dividend of $1.03 per share. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil's dividend payout ratio is currently 69.48%.

Trending Headlines about ExxonMobil

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of ExxonMobil in a research report on Friday, April 10th. Sanford C. Bernstein dropped their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Jefferies Financial Group upped their price target 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. Finally, BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a "neutral" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, ExxonMobil has an average rating of "Moderate Buy" and an average price target 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.

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.