iA Global Asset Management Inc. Purchases 50,673 Shares of ExxonMobil Corporation $XOM

Key Points

• iA Global Asset Management increased its ExxonMobil stake by 28.3% in the fourth quarter, buying 50,673 more shares to bring its total holdings to 229,520 shares worth about $27.6 million.
• ExxonMobil reported stronger-than-expected quarterly results, with EPS of $1.16 beating estimates and revenue of $83.16 billion topping forecasts. Analysts now expect the company to earn 11.5 EPS for the full year.
• The company also announced a quarterly dividend of $1.03 per share, payable June 10, which works out to an annualized yield of about 2.6%.

iA Global Asset Management Inc. raised its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 229,520 shares of the oil and gas company's stock after acquiring an additional 50,673 shares during the quarter. iA Global Asset Management Inc.'s holdings in ExxonMobil were worth $27,620,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. 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 in 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 in the last quarter. MOKAN Wealth Management Inc. boosted its holdings in shares of ExxonMobil by 1.3% in the 4th quarter. MOKAN Wealth Management Inc. now owns 5,903 shares of the oil and gas company's stock worth $711,000 after purchasing an additional 77 shares during the period. Field & Main Bank boosted its holdings in shares of ExxonMobil by 0.3% in the 4th quarter. Field & Main Bank now owns 23,393 shares of the oil and gas company's stock worth $2,815,000 after purchasing an additional 78 shares during the period. Finally, Capstone Wealth Management LLC boosted its holdings in shares of ExxonMobil by 3.1% in the 4th quarter. Capstone Wealth Management LLC now owns 2,606 shares of the oil and gas company's stock worth $314,000 after purchasing an additional 79 shares during the period. Institutional investors own 61.80% of the company's stock.

ExxonMobil Price Performance

XOM opened at $157.72 on Friday. The business has a fifty day moving average of $155.05 and a 200 day moving average of $137.45. ExxonMobil Corporation has a 52-week low of $101.18 and a 52-week high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market cap of $653.72 billion, a P/E ratio of 26.60, a PEG ratio of 0.69 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter in the previous year, the business earned $1.76 EPS. ExxonMobil's revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ExxonMobil Corporation will post 11.5 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.6%. ExxonMobil's payout ratio is presently 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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on XOM. Bank of America lifted their target price on ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. Mizuho lifted their target price on ExxonMobil from $140.00 to $162.00 and gave the stock a "neutral" rating in a report on Tuesday, March 17th. Barclays lifted their target price on ExxonMobil from $145.00 to $163.00 and gave the stock an "overweight" rating in a report on Monday, March 16th. Wells Fargo & Company lifted their target price on ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Finally, TD Cowen dropped their target price on ExxonMobil from $175.00 to $172.00 and set a "buy" rating for the company in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil currently has a consensus rating of "Moderate Buy" and a consensus price target of $163.95.

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 2,150 shares of the business's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president 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 Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is currently owned by insiders.

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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