ExxonMobil Corporation $XOM Position Lowered by RWWM Inc.

Key Points

• RWWM Inc. cut its ExxonMobil stake by 18.7% in the first quarter, selling 73,970 shares and leaving it with 321,503 shares worth about $54.5 million.
• Wall Street remains cautiously positive on ExxonMobil, with a consensus Moderate Buy rating and an average price target of $164.45, though several analysts recently trimmed their targets.
• ExxonMobil reported better-than-expected Q1 results, with EPS of $1.16 on revenue of $83.16 billion, and it continues to back shareholders with a quarterly dividend of $1.03 per share.

RWWM Inc. reduced its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 18.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 321,503 shares of the oil and gas company's stock after selling 73,970 shares during the period. ExxonMobil comprises approximately 4.0% of RWWM Inc.'s portfolio, making the stock its 10th largest position. RWWM Inc.'s holdings in ExxonMobil were worth $54,546,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company's stock worth $9,043,836,000 after acquiring an additional 1,457,560 shares in the last quarter. Norges Bank purchased a new stake in ExxonMobil during the fourth quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp lifted its stake in ExxonMobil by 1.2% during the fourth 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 purchasing an additional 531,362 shares during the last quarter. Northern Trust Corp boosted its holdings in ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock valued at $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock valued at $4,102,708,000 after purchasing an additional 293,446 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Mizuho dropped their target price on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. 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 research note on Thursday, April 9th. Bank of America raised shares of ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price target for the company in a research report on Tuesday, June 16th. Finally, Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.45.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil's Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation NYSE: XOM Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

ExxonMobil Stock Performance

Shares of XOM opened at $147.56 on Friday. The company's 50 day simple moving average is $145.78 and its 200-day simple moving average is $146.31. The firm has a market cap of $611.62 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. ExxonMobil's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.76 EPS. As a group, equities analysts predict that ExxonMobil Corporation will post 11.38 EPS for the current year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is presently 69.48%.

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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