ExxonMobil Corporation $XOM Shares Bought by Flputnam Investment Management Co.

Key Points

• Flputnam Investment Management increased its ExxonMobil stake by 30.5% in the second quarter, bringing its holdings to 114,111 shares valued at approximately $15.6 million. Institutional investors and hedge funds collectively own 61.8% of XOM.
• Analysts maintain a broadly neutral view, with a consensus “Hold” rating and an average price target of $166.10; recent targets range from $156 to $170.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding estimates, though earnings per share of $3.52 narrowly missed expectations. The company declared a quarterly dividend of $1.03, equal to a 2.6% annualized yield.

Flputnam Investment Management Co. boosted its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 30.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,111 shares of the oil and gas company's stock after purchasing an additional 26,643 shares during the quarter. Flputnam Investment Management Co.'s holdings in ExxonMobil were worth $15,601,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank of America Corp DE lifted 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 valued at $9,043,836,000 after buying an additional 1,457,560 shares in the last quarter. Norges Bank acquired a new stake in ExxonMobil in the 4th quarter valued at $7,625,063,000. Bank of New York Mellon Corp increased its holdings in ExxonMobil by 1.2% in 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 in the last quarter. Northern Trust Corp increased its holdings in ExxonMobil by 1.0% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock worth $4,102,708,000 after acquiring an additional 293,446 shares during the period. 61.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on XOM shares. Mizuho decreased their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. DZ Bank cut shares of ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 target price for the company. in a research note on Tuesday, August 4th. Piper Sandler began coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They set a "neutral" rating and a $158.00 price target for the company. HSBC set a $158.00 price target on shares of ExxonMobil in a research note on Monday, August 3rd. Finally, TD Cowen lifted their price objective on ExxonMobil from $155.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $166.10.

ExxonMobil Stock Up 0.3%

Shares of NYSE:XOM opened at $156.88 on Friday. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $150.53 and a two-hundred day moving average of $151.87. The stock has a market cap of $650.26 billion, a P/E ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The firm had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, research analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil's dividend payout ratio is presently 53.02%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I'm Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil's Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

About ExxonMobil

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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