ExxonMobil Corporation $XOM Shares Sold by Royal London Asset Management Ltd.

Key Points

• Royal London Asset Management reduced its ExxonMobil stake by 1.4% in the second quarter, selling 31,734 shares and retaining 2.21 million shares worth approximately $301.6 million. Institutional investors collectively own 61.8% of XOM.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $166.10 average price target; ten analysts rate the stock Buy while twelve rate it Hold.
• ExxonMobil reported quarterly revenue of $114.53 billion, ahead of estimates, but earnings of $3.52 per share narrowly missed expectations. The company declared a $1.03 quarterly dividend, equivalent to a 2.6% annualized yield.

Royal London Asset Management Ltd. trimmed its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 1.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,206,288 shares of the oil and gas company's stock after selling 31,734 shares during the period. ExxonMobil makes up about 0.6% of Royal London Asset Management Ltd.'s holdings, making the stock its 28th largest holding. Royal London Asset Management Ltd. owned approximately 0.05% of ExxonMobil worth $301,644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in XOM. Bank of America Corp DE raised its holdings in ExxonMobil by 2.0% in 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 during the period. Norges Bank purchased a new position in ExxonMobil during the fourth quarter worth about $7,625,063,000. Bank of New York Mellon Corp increased its position in shares of 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 valued at $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp increased its position in shares of ExxonMobil by 1.0% during 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 acquiring an additional 445,283 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ExxonMobil by 0.9% in the 4th 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 acquiring an additional 293,446 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on XOM shares. 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. Citigroup reiterated a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. Weiss Ratings raised ExxonMobil from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Wells Fargo & Company restated an "overweight" rating and set a $182.00 price target on shares of ExxonMobil in a research note on Monday, August 3rd. Finally, UBS Group set a $168.00 price objective on ExxonMobil in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $166.10.

ExxonMobil News Summary

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

ExxonMobil Trading Up 0.3%

NYSE XOM opened at $156.88 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market cap of $650.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17. The firm has a 50 day simple moving average of $150.53 and a 200-day simple moving average of $151.87. ExxonMobil Corporation has a one year low of $108.35 and a one year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced 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). The business had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period in the previous year, the company earned $1.64 earnings per share. Equities research analysts anticipate that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

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

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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