Fifth Third Bancorp Buys 1,307,465 Shares of ExxonMobil Corporation $XOM

Fifth Third Bancorp grew its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 63.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,371,424 shares of the oil and gas company's stock after buying an additional 1,307,465 shares during the quarter. ExxonMobil accounts for about 1.0% of Fifth Third Bancorp's investment portfolio, making the stock its 14th biggest holding. Fifth Third Bancorp owned about 0.08% of ExxonMobil worth $571,996,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC bought a new position in shares of ExxonMobil in the fourth quarter valued at $26,000. Midwest Capital Advisors LLC bought a new stake in ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 187 shares during the last quarter. Key Capital Management INC acquired a new stake in ExxonMobil in the 4th quarter valued at about $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in ExxonMobil during the fourth quarter worth about $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on XOM shares. Zacks Research lowered ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Royal Bank Of Canada restated a "sector perform" rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. UBS Group lifted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Jefferies Financial Group upped their price target on shares of ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Finally, Weiss Ratings downgraded shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, ExxonMobil currently has an average rating of "Moderate Buy" and an average target price of $164.45.

ExxonMobil Trading Down 0.4%

Shares of ExxonMobil stock opened at $144.50 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The firm has a 50-day moving average of $145.73 and a 200-day moving average of $146.11. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The stock has a market cap of $598.95 billion, a PE ratio of 24.37, a PEG ratio of 0.59 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter in the previous year, the company earned $1.76 EPS. The business's revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 11.48 EPS for the current year.

ExxonMobil Dividend Announcement

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

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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