Glenview Trust Co Raises Holdings in ExxonMobil Corporation $XOM

Key Points

• Glenview Trust Co increased its ExxonMobil stake by 2.9% in the fourth quarter, buying 8,063 more shares and lifting its total holdings to 290,509 shares worth about $35 million.
• Several other institutional investors also boosted their positions, and hedge funds and other institutions now own 61.8% of ExxonMobil’s stock, showing continued strong institutional interest.
• ExxonMobil recently beat earnings expectations, reporting $1.16 EPS on $83.16 billion in revenue, while also announcing a quarterly dividend of $1.03 per share for a 2.7% annualized yield.

Glenview Trust Co grew its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,509 shares of the oil and gas company's stock after purchasing an additional 8,063 shares during the period. Glenview Trust Co's holdings in ExxonMobil were worth $34,960,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in XOM. Franklin Resources Inc. grew its position in shares of ExxonMobil by 7.4% during the third 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 in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of ExxonMobil by 218.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock valued at $155,696,000 after purchasing an additional 2,546,791 shares in the last quarter. AQR Capital Management LLC grew its position in shares of ExxonMobil by 105.4% during the third quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company's stock valued at $329,797,000 after purchasing an additional 1,501,235 shares in the last quarter. Bessemer Group Inc. grew its position in shares of ExxonMobil by 119.4% during the third quarter. Bessemer Group Inc. now owns 2,672,359 shares of the oil and gas company's stock valued at $301,310,000 after purchasing an additional 1,454,308 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of ExxonMobil by 4.5% during the third quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company's stock valued at $2,299,687,000 after purchasing an additional 886,087 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Trading Down 0.1%

XOM opened at $154.82 on Monday. The firm has a market cap of $641.71 billion, a P/E ratio of 26.11, a P/E/G ratio of 0.68 and a beta of 0.19. ExxonMobil Corporation has a 12 month low of $101.18 and a 12 month high of $176.41. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a 50-day moving average of $155.79 and a 200 day moving average of $139.12.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly 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 company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm's revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.76 earnings per share. As a group, research analysts forecast that ExxonMobil Corporation will post 11.49 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.7%. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Royal Bank Of Canada restated a "sector perform" rating and set a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. Scotiabank lifted their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley dropped their price target on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.95.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares in the company, valued at approximately $2,872,955.28. This trade represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil's Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

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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