ExxonMobil Corporation $XOM Stock Holdings Increased by Investment Management Corp of Ontario

Key Points

• Investment Management Corp of Ontario boosted its ExxonMobil stake by 58.2% in the fourth quarter, ending with 383,290 shares worth about $46.1 million.
• ExxonMobil reported better-than-expected first-quarter results, posting $1.16 EPS versus the $0.98 consensus and revenue of $83.16 billion, while the company also pays a quarterly dividend of $1.03 per share.
• Analyst sentiment is mixed but generally constructive: Bank of America upgraded ExxonMobil to Buy with a $154 target, while the broader analyst consensus remains Moderate Buy with an average price target of $165.70.

Investment Management Corp of Ontario raised its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 58.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,290 shares of the oil and gas company's stock after acquiring an additional 141,038 shares during the period. ExxonMobil makes up 0.6% of Investment Management Corp of Ontario's holdings, making the stock its 20th largest position. Investment Management Corp of Ontario's holdings in ExxonMobil were worth $46,125,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased 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 purchasing an additional 1,457,560 shares during the period. Norges Bank acquired a new position in shares of ExxonMobil during the 4th quarter valued at $7,625,063,000. Bank of New York Mellon Corp increased its position in shares of ExxonMobil by 1.2% during the 4th 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 purchasing an additional 531,362 shares during the period. Northern Trust Corp increased its position in shares of ExxonMobil by 1.0% during the 3rd 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 purchasing an additional 445,283 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of ExxonMobil by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock valued at $4,366,655,000 after purchasing an additional 2,660,910 shares during the period. Institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $140.64 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $582.93 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 0.60 and a beta of 0.16. The stock's fifty day simple moving average is $150.85 and its 200 day simple moving average is $143.10. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 EPS. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. ExxonMobil's payout ratio is presently 69.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on XOM shares. Sanford C. Bernstein lowered their price target on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Bank of America upgraded ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price target on the stock in a research report on Tuesday. Jefferies Financial Group lifted their price target on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Finally, Piper Sandler lowered their price target on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Eleven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $165.70.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, saying the recent pullback has made the stock look undervalued. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil advanced growth plans in Guyana, applying for an additional 35-well exploration campaign in the Stabroek block, which could support long-term production growth. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Positive Sentiment: Exxon signed a preliminary agreement to supply LNG to South Africa’s first planned import terminal, adding another international gas opportunity and reinforcing its LNG expansion strategy. Exxon Mobil signs deal to supply South Africa's first planned LNG terminal
• Neutral Sentiment: Analysts and market commentary continue to describe ExxonMobil as a relatively resilient, low-cost energy major, with some brokerages maintaining a Moderate Buy view despite oil-price volatility. Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
• Neutral Sentiment: Sector-wide energy shares are weaker as Brent and WTI fall on hopes for reduced Middle East supply risk, which is limiting upside for ExxonMobil in the near term. Sector Update: Energy Stocks Lower Wednesday Afternoon
• Negative Sentiment: Oil-market headlines tied to U.S.-Iran peace hopes and a possible reopening of the Strait of Hormuz have pressured crude prices, which can weigh on ExxonMobil’s earnings expectations and stock performance. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Some recent commentary is explicitly warning investors away from XOM, highlighting concerns tied to the oil-price backdrop and valuation versus alternatives. 2 reasons to avoid XOM and 1 stock to buy instead

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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