ExxonMobil Corporation $XOM Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon trimmed its ExxonMobil stake by 5.0% in the first quarter, selling 2.32 million shares. It still held 44.29 million shares, making ExxonMobil its 10th-largest holding.
• ExxonMobil reported better-than-expected first-quarter earnings, posting EPS of $1.16 versus the $0.98 estimate on revenue of $83.16 billion. Revenue rose 2.4% year over year, and analysts now expect full-year EPS of 11.38.
• The company continues to return cash to shareholders, recently paying a $1.03 quarterly dividend that implies a 2.8% annual yield. Analyst sentiment remains constructive, with an average price target of $164.45 and a “Moderate Buy” rating.

Bank of New York Mellon Corp decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,289,134 shares of the oil and gas company's stock after selling 2,316,219 shares during the period. ExxonMobil comprises approximately 1.4% of Bank of New York Mellon Corp's investment portfolio, making the stock its 10th largest holding. Bank of New York Mellon Corp owned approximately 1.07% of ExxonMobil worth $7,514,094,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new position in ExxonMobil during the fourth quarter valued at $26,000. Midwest Capital Advisors LLC purchased a new stake in shares of ExxonMobil during the fourth quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 187 shares during the last quarter. Key Capital Management INC acquired a new position in shares of ExxonMobil during the 4th quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in ExxonMobil in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Trading Up 0.1%

Shares of ExxonMobil stock opened at $147.56 on Monday. The stock has a 50 day moving average of $145.78 and a 200 day moving average of $146.49. 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 market capitalization of $611.62 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.76 earnings per share. As a group, research analysts predict that ExxonMobil Corporation will post 11.38 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Wells Fargo & Company boosted their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Royal Bank Of Canada restated a "sector perform" rating and issued a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Wolfe Research cut shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Finally, Morgan Stanley dropped their target price on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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 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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