ExxonMobil Corporation $XOM Position Boosted by Baker Avenue Asset Management LP

Key Points

• Baker Avenue Asset Management LP increased its ExxonMobil stake by 3.9% in the fourth quarter, bringing its holdings to 197,512 shares valued at about $23.8 million.
• Recent analyst actions were mixed, but the stock still carries a Moderate Buy consensus rating with an average price target of $165.55. UBS and Citigroup raised targets, while Sanford C. Bernstein trimmed its target.
• ExxonMobil reported better-than-expected Q1 earnings of $1.16 per share on revenue of $83.16 billion, and it announced a quarterly dividend of $1.03 per share, implying a 2.8% yield.

Baker Avenue Asset Management LP grew its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 197,512 shares of the oil and gas company's stock after purchasing an additional 7,469 shares during the period. Baker Avenue Asset Management LP's holdings in ExxonMobil were worth $23,769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil in the fourth quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in shares of ExxonMobil in the fourth quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after buying an additional 187 shares during the period. Key Capital Management INC acquired a new position in shares of ExxonMobil in the fourth quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of ExxonMobil in the fourth quarter worth about $32,000. Institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

XOM has been the subject of several recent analyst reports. Sanford C. Bernstein decreased their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a "neutral" rating in a report on Friday, April 17th. UBS Group raised their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Loop Capital set a $123.00 target price on shares of ExxonMobil in a report on Tuesday, February 3rd. Finally, Citigroup raised their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of "Moderate Buy" and an average price target of $165.55.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip...

ExxonMobil Price Performance

Shares of XOM opened at $147.80 on Thursday. The firm has a market cap of $612.63 billion, a PE ratio of 24.92, a PEG ratio of 0.65 and a beta of 0.19. The firm's 50 day moving average price is $155.51 and its 200 day moving average price is $139.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month 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 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 earnings per share. As a group, research analysts expect that ExxonMobil Corporation will post 11.49 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed 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. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil's dividend payout ratio (DPR) is presently 69.48%.

Insiders Place Their Bets

In related news, VP Darrin L. Talley sold 2,150 shares of the firm's stock in a transaction that occurred 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 transaction, the vice president owned 18,204 shares of the company's stock, valued at approximately $2,872,955.28. This trade 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 is available through the SEC website. Insiders own 0.03% of the company's stock.

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.

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