ExxonMobil Corporation $XOM Stock Holdings Trimmed by Global Assets Advisory LLC

Key Points

• Global Assets Advisory LLC reduced its ExxonMobil stake by 9.0% in the first quarter, selling 9,577 shares and leaving it with 96,679 shares valued at about $16.4 million.
• ExxonMobil beat quarterly expectations, reporting $1.16 EPS versus the $0.98 consensus and revenue of $83.16 billion, while revenue rose 2.4% year over year.
• The company also paid a quarterly dividend of $1.03 per share, equal to an annualized $4.12 yield of 2.8%; analysts currently rate the stock a Moderate Buy with an average price target of $164.45.

Global Assets Advisory LLC cut its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,679 shares of the oil and gas company's stock after selling 9,577 shares during the period. ExxonMobil accounts for approximately 3.9% of Global Assets Advisory LLC's holdings, making the stock its 4th biggest holding. Global Assets Advisory LLC's holdings in ExxonMobil were worth $16,403,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of 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 worth $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 in the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp grew its holdings 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 worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp increased its position in 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 worth $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in ExxonMobil by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock worth $4,102,708,000 after purchasing an additional 293,446 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a report on Monday, May 4th. JPMorgan Chase & Co. boosted their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. TD Cowen cut their target price on shares of ExxonMobil from $172.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday, July 2nd. Finally, Scotiabank lifted their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.45.

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $145.79 on Friday. The company has a market cap of $604.31 billion, a P/E ratio of 24.59, a PEG ratio of 0.59 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41. The business's 50-day simple moving average is $145.72 and its 200 day simple moving average is $146.30.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during 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%.ExxonMobil's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.76 EPS. On average, sell-side analysts forecast that ExxonMobil Corporation will post 11.43 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's payout ratio is presently 69.48%.

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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