ExxonMobil Corporation $XOM Stake Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management reduced its ExxonMobil stake by 30.7% in the second quarter, selling 4.86 million shares and retaining 10.97 million shares worth approximately $1.5 billion. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil reported quarterly earnings of $3.52 per share, slightly below the $3.56 consensus, while revenue of $114.53 billion exceeded estimates. The company declared a quarterly dividend of $1.03 per share, representing a 2.6% yield.
• XOM recently traded at $156.88, while analysts maintain a consensus “Hold” rating and a $166.10 target price; ten analysts rate it Buy and twelve rate it Hold.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 30.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,967,082 shares of the oil and gas company's stock after selling 4,859,131 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of ExxonMobil worth $1,499,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in ExxonMobil in the 4th quarter worth about $7,625,063,000. GQG Partners LLC raised its stake in ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock valued at $2,307,497,000 after acquiring an additional 10,214,420 shares in the last quarter. Quantum Portfolio Management LLC acquired a new position in ExxonMobil during the 1st quarter worth $965,932,000. Arrowstreet Capital Limited Partnership acquired a new position in ExxonMobil during the 1st quarter worth $766,345,000. Finally, Van ECK Associates Corp grew its stake in shares of ExxonMobil by 334.4% in the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after purchasing an additional 2,357,467 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Stock Up 0.3%

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 company has a market capitalization of $650.26 billion, a PE ratio of 20.19, a P/E/G ratio of 0.62 and a beta of 0.17. The stock's fifty day moving average is $150.53 and its 200-day moving average is $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 firm had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same period in the prior year, the business earned $1.64 EPS. On average, equities analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

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

Trending Headlines about ExxonMobil

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on XOM. Sanford C. Bernstein cut their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Freedom Capital upgraded shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Bank of America cut shares of ExxonMobil from a "buy" rating to a "neutral" rating and raised their target price for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. Mizuho dropped their price target 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. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to data from MarketBeat, ExxonMobil currently has a consensus rating of "Hold" and a consensus target price of $166.10.

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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