ExxonMobil Corporation $XOM Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management trimmed its ExxonMobil stake by 2.3% in the fourth quarter, selling 48,340 shares and leaving it with 2,090,919 shares worth about $251.6 million.
• ExxonMobil reported better-than-expected first-quarter earnings, posting $1.16 EPS versus $0.98 expected and revenue of $83.16 billion, while also reaffirming strong financial metrics and a low debt load.
• The company announced a quarterly dividend of $1.03 per share, payable June 10, and the article also highlighted supportive news including possible Cyprus gas development, potential Venezuela rights talks, and firmer crude prices.

LSV Asset Management lowered its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,090,919 shares of the oil and gas company's stock after selling 48,340 shares during the quarter. LSV Asset Management's holdings in ExxonMobil were worth $251,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in XOM. Capital Investment Advisors LLC grew its position in ExxonMobil by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock valued at $27,857,000 after buying an additional 14,233 shares during the period. New Age Alpha Advisors LLC grew its position in ExxonMobil by 5.6% during the third quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock valued at $18,778,000 after buying an additional 8,853 shares during the period. HORAN Wealth LLC grew its position in ExxonMobil by 78.3% during the third quarter. HORAN Wealth LLC now owns 13,180 shares of the oil and gas company's stock valued at $1,486,000 after buying an additional 5,788 shares during the period. Krilogy Financial LLC grew its position in ExxonMobil by 46.6% during the third quarter. Krilogy Financial LLC now owns 35,160 shares of the oil and gas company's stock valued at $3,997,000 after buying an additional 11,177 shares during the period. Finally, Varma Mutual Pension Insurance Co grew its position in ExxonMobil by 8.6% during the third quarter. Varma Mutual Pension Insurance Co now owns 655,303 shares of the oil and gas company's stock valued at $73,885,000 after buying an additional 51,900 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil's Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

ExxonMobil Stock Down 0.3%

Shares of NYSE XOM opened at $154.82 on Friday. The company's 50-day simple moving average is $155.79 and its 200-day simple moving average is $138.95. ExxonMobil Corporation has a 52-week low of $101.18 and a 52-week high of $176.41. The firm has a market cap of $641.71 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 0.68 and a beta of 0.19. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter last year, the business earned $1.76 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts predict that ExxonMobil Corporation will post 11.49 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. ExxonMobil's dividend payout ratio (DPR) is 69.48%.

Wall Street Analyst Weigh In

XOM has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Zacks Research upgraded shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Sanford C. Bernstein dropped their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Finally, Piper Sandler dropped their target price on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.95.

Insider Buying and Selling at ExxonMobil

In other news, VP Darrin L. Talley sold 2,150 shares of the firm's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate 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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