Greenwood Capital Associates LLC Lowers Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Greenwood Capital Associates LLC cut its ExxonMobil stake by 18.7% in the first quarter, selling 12,301 shares and leaving it with 53,625 shares worth about $9.1 million.
• ExxonMobil’s latest earnings beat Wall Street expectations, with EPS of $1.16 versus the $0.98 estimate and revenue of $83.16 billion topping forecasts. Analysts now expect the company to earn $11.69 per share for the full fiscal year.
• The company continues to reward shareholders with a $1.03 quarterly dividend, equal to a 3.0% yield, while analysts overall remain cautiously positive with a Moderate Buy rating and an average price target of $164.45.

Greenwood Capital Associates LLC lessened its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 18.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,625 shares of the oil and gas company's stock after selling 12,301 shares during the quarter. ExxonMobil makes up 1.0% of Greenwood Capital Associates LLC's investment portfolio, making the stock its 25th largest holding. Greenwood Capital Associates LLC's holdings in ExxonMobil were worth $9,098,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of ExxonMobil during the fourth quarter worth about $7,625,063,000. Quantum Portfolio Management LLC purchased a new position in shares of ExxonMobil in the first quarter valued at approximately $965,932,000. Mercer Global Advisors Inc. ADV grew its holdings in shares of ExxonMobil by 218.4% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ExxonMobil by 18.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock valued at $1,925,119,000 after purchasing an additional 2,465,410 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in ExxonMobil by 334.4% during the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after buying an additional 2,357,467 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil said it is expanding in Nigeria with a $1 billion Usan Infill Project, which is expected to restore drilling activity there and add about 40,000 barrels per day within 18 months. Article Title
• Positive Sentiment: Analysts say strong commodity tailwinds, including higher crude prices and margin gains, could lift XOM’s second-quarter results and support near-term earnings strength. Article Title
• Positive Sentiment: Oil-market commentary suggests major U.S. producers, including ExxonMobil, could benefit financially from geopolitical disruption and higher crude prices, without needing to materially increase drilling right away. Article Title
• Neutral Sentiment: Some market coverage says XOM’s valuation looks reasonable on earnings, but the stock may be stretched after a large multi-year run, which could limit upside if expectations get too high. Article Title
• Negative Sentiment: Mizuho lowered its price target on ExxonMobil to $170 and kept a neutral stance, signaling less aggressive upside expectations from one Wall Street firm. Article Title
• Negative Sentiment: Recent trading commentary noted XOM underperformed the broader market in a down session, reflecting investor caution around energy stocks when crude prices soften. Article Title

Analyst Upgrades and Downgrades

A number of research firms have issued reports on XOM. HSBC increased their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a report on Friday, March 20th. Sanford C. Bernstein cut their price objective on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Scotiabank increased their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. Mizuho decreased their target price on ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday. Finally, Zacks Research downgraded ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $164.45.

ExxonMobil Trading Down 0.0%

Shares of NYSE:XOM opened at $138.84 on Monday. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The company's 50 day moving average is $146.22 and its two-hundred day moving average is $145.57. The company has a market cap of $575.47 billion, a PE ratio of 23.41, a P/E/G ratio of 0.56 and a beta of 0.17. 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 issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS 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 the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.76 earnings per share. Equities analysts predict that ExxonMobil Corporation will post 11.69 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is currently 69.48%.

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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