HighTower Advisors LLC Cuts Stake in ExxonMobil Corporation $XOM

Key Points

• HighTower Advisors slightly trimmed its ExxonMobil stake by 0.4% in the fourth quarter, but still held about 8.07 million shares valued at roughly $971.5 million.
• Several analysts remain constructive on ExxonMobil, with a consensus rating of “Moderate Buy” and an average price target of $163.95, even as one firm downgraded the stock and others raised targets.
• ExxonMobil reported better-than-expected Q1 results, declared a $1.03 quarterly dividend, and continues to benefit from stronger crude prices and a recent legal win that removed a major overhang.

HighTower Advisors LLC cut its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,073,034 shares of the oil and gas company's stock after selling 29,256 shares during the period. ExxonMobil accounts for approximately 1.1% of HighTower Advisors LLC's investment portfolio, making the stock its 10th biggest holding. HighTower Advisors LLC owned about 0.19% of ExxonMobil worth $971,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in XOM. Auxano Advisors LLC raised its position in shares of ExxonMobil by 29.0% during the fourth quarter. Auxano Advisors LLC now owns 15,808 shares of the oil and gas company's stock worth $1,902,000 after purchasing an additional 3,554 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in shares of ExxonMobil by 26.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 269,143 shares of the oil and gas company's stock valued at $32,389,000 after purchasing an additional 56,393 shares in the last quarter. Gambit Capital Management LLC bought a new position in shares of ExxonMobil during the 4th quarter worth approximately $239,000. Yanni & Associates Investment Advisors LLC purchased a new position in ExxonMobil in the fourth quarter worth $337,000. Finally, Tanglewood Legacy Advisors LLC boosted its holdings in shares of ExxonMobil by 2.8% in the 4th quarter. Tanglewood Legacy Advisors LLC now owns 7,912 shares of the oil and gas company's stock worth $952,000 after buying an additional 214 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on XOM shares. HSBC increased their price objective on ExxonMobil from $135.00 to $158.00 and gave the company a "hold" rating in a report on Friday, March 20th. Wolfe Research downgraded shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a report on Tuesday, April 21st. Loop Capital set a $123.00 target price on shares of ExxonMobil in a research note on Tuesday, February 3rd. Barclays increased their target price on ExxonMobil from $145.00 to $163.00 and gave the stock an "overweight" rating in a research report on Monday, March 16th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $155.00 target price on shares of ExxonMobil in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.95.

Insider Transactions at ExxonMobil

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares of the company's stock, valued at $2,872,955.28. The trade was a 10.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is benefiting from stronger crude prices, which improve upstream profitability and boost investor sentiment toward the stock. ExxonMobil Stock Analysis: Buy or Sell?
• Positive Sentiment: The company’s strong first-quarter results and analyst attention are keeping momentum in the shares, suggesting the latest move is supported by earnings strength rather than only short-term trading. Exxon Mobil (XOM) Valuation Check As Legal Win And Strong Q1 Meet Rising Crude Prices
• Positive Sentiment: A Texas jury clearing ExxonMobil of investor fraud claims removes a major legal overhang and may improve the market’s view of risk around the stock. Exxon Mobil (XOM) Valuation Check As Legal Win And Strong Q1 Meet Rising Crude Prices
• Neutral Sentiment: ExxonMobil is also drawing increased investor and analyst attention, but these reports do not add new business developments by themselves. Exxon Mobil Corporation (XOM) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Proxy adviser opposition to Exxon’s move to Texas could create governance controversy and keep some pressure on the stock if the issue escalates. Opinion | The Proxy Advisers Strike Back

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $160.20 on Tuesday. The stock has a market cap of $664.01 billion, a price-to-earnings ratio of 27.01, a P/E/G ratio of 0.69 and a beta of 0.19. 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. The stock's 50-day moving average is $155.23 and its 200 day moving average is $137.92.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share 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 analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.76 EPS. On average, sell-side analysts anticipate that ExxonMobil Corporation will post 11.5 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors 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 annualized dividend and a yield of 2.6%. ExxonMobil's dividend payout ratio is currently 69.48%.

ExxonMobil 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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