Geode Capital Management LLC Trims Stake in ExxonMobil Corporation $XOM

Key Points

• Geode Capital Management trimmed its ExxonMobil stake by 0.2% in the fourth quarter, but it still holds a massive position of 95.9 million shares worth about $11.5 billion, making XOM its 16th-largest holding.
• Several analysts remain constructive on ExxonMobil, with firms like Jefferies and JPMorgan raising price targets. The stock currently carries a consensus “Moderate Buy” rating and a $165.55 average price target.
• ExxonMobil recently beat quarterly earnings expectations, paid a $1.03 per-share dividend, and reported a 2.8% yield. The company also has ongoing strategic developments, including shareholder approval to reincorporate in Texas and continued growth efforts in Guyana.

Geode Capital Management LLC cut its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,923,254 shares of the oil and gas company's stock after selling 231,011 shares during the period. ExxonMobil makes up 0.7% of Geode Capital Management LLC's investment portfolio, making the stock its 16th biggest holding. Geode Capital Management LLC owned 2.27% of ExxonMobil worth $11,494,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ICW Investment Advisors LLC increased its position in ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company's stock worth $3,043,000 after purchasing an additional 69 shares during the period. Peoples Bank OH grew its holdings in ExxonMobil by 0.5% during the 4th quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company's stock valued at $1,804,000 after buying an additional 71 shares during the last quarter. Paulson Wealth Management Inc. grew its holdings in ExxonMobil by 1.0% during the 4th quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company's stock valued at $887,000 after buying an additional 72 shares during the last quarter. Peirce Capital Management LLC grew its holdings in ExxonMobil by 1.7% during the 4th quarter. Peirce Capital Management LLC now owns 4,292 shares of the oil and gas company's stock valued at $516,000 after buying an additional 72 shares during the last quarter. Finally, Studio Investment Management LLC lifted its stake in shares of ExxonMobil by 0.8% during the 4th quarter. Studio Investment Management LLC now owns 8,698 shares of the oil and gas company's stock worth $1,047,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on XOM shares. Loop Capital set a $123.00 price target on ExxonMobil in a research note on Tuesday, February 3rd. Jefferies Financial Group raised their price objective on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Weiss Ratings lowered ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. JPMorgan Chase & Co. raised their target price on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Finally, Bank of America raised their target price on ExxonMobil from $135.00 to $151.00 and gave the company a "neutral" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $165.55.

ExxonMobil Stock Performance

XOM opened at $147.80 on Thursday. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. The stock has a market cap of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. The business's 50 day moving average is $155.51 and its 200-day moving average is $139.90. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm 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 firm's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.76 earnings per share. On average, analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Announces Dividend

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

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 2,150 shares of the business's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total transaction of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares in the company, valued at $2,872,955.28. The trade was a 10.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by corporate insiders.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip...

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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