GLOBALT Investments LLC GA Has $8.97 Million Stake in ExxonMobil Corporation $XOM

Key Points

• GLOBALT Investments LLC GA increased its ExxonMobil stake by 69.7% in the fourth quarter, adding 30,620 shares and bringing its total holding to 74,555 shares valued at about $8.97 million.
• ExxonMobil beat quarterly expectations, reporting $1.16 EPS versus the $0.98 estimate and $83.16 billion in revenue, while analysts currently rate the stock a Moderate Buy with an average price target of $163.95.
• The company declared a quarterly dividend of $1.03 per share, payable June 10, and recent news has been generally supportive, including strong oil-price tailwinds and a jury decision that removed a major legal overhang.

GLOBALT Investments LLC GA increased its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 69.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 74,555 shares of the oil and gas company's stock after purchasing an additional 30,620 shares during the period. GLOBALT Investments LLC GA's holdings in ExxonMobil were worth $8,972,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in XOM. Eagle Capital Management LLC boosted its stake in ExxonMobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock worth $337,000 after purchasing an additional 376 shares during the period. Caxton Associates LLP acquired a new stake in shares of ExxonMobil during the 1st quarter valued at $305,000. Sivia Capital Partners LLC boosted its stake in shares of ExxonMobil by 1.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock valued at $1,211,000 after buying an additional 207 shares during the period. United Bank boosted its stake in shares of ExxonMobil by 2.8% during the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company's stock valued at $2,352,000 after buying an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in shares of ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after buying an additional 5,443 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on XOM. Royal Bank Of Canada reissued a "sector perform" rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Wolfe Research lowered shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. TD Cowen decreased their target price on shares of ExxonMobil from $175.00 to $172.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Weiss Ratings reissued a "hold (c+)" rating on shares of ExxonMobil in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. 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 company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $163.95.

Insider Buying and Selling at ExxonMobil

In other news, VP Darrin L. Talley sold 2,150 shares of the firm'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 owned 18,204 shares in the company, valued at approximately $2,872,955.28. This trade represents a 10.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.03% of the company's stock.

ExxonMobil Stock Down 0.1%

ExxonMobil stock opened at $157.72 on Monday. The company has a market capitalization of $653.72 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.69 and a beta of 0.19. The firm's fifty day simple moving average is $155.05 and its 200-day simple moving average is $137.61. 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 Corporation has a 1-year low of $101.18 and a 1-year high of $176.41.

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, beating analysts' consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. ExxonMobil's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.76 EPS. Sell-side analysts forecast that ExxonMobil Corporation will post 11.5 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $1.03 per share. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

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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