Invesco Ltd. Buys 577,181 Shares of ExxonMobil Corporation $XOM

Key Points

• Invesco Ltd. increased its ExxonMobil stake by 3.4% in the fourth quarter, buying 577,181 additional shares and lifting its holdings to 17.37 million shares valued at about $2.09 billion.
• ExxonMobil’s recent business updates are constructive, including a new exploration push in Guyana’s Stabroek Block and a preliminary LNG supply deal tied to South Africa’s first planned import terminal.
• The stock has pulled back and remains closely watched by analysts: XOM was down 2.1% in Friday trading, while Wall Street’s consensus rating is “Moderate Buy” with an average target price of $165.70.

Invesco Ltd. increased its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,367,358 shares of the oil and gas company's stock after buying an additional 577,181 shares during the period. Invesco Ltd. owned about 0.41% of ExxonMobil worth $2,089,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Torrey Payne Wealth Management LLC bought a new position in shares of ExxonMobil during the 4th quarter valued at approximately $328,000. Evansbrook LLC bought a new stake in shares of ExxonMobil in the 4th quarter worth approximately $2,160,000. Lexington Hill Partners LLC purchased a new position in ExxonMobil in the fourth quarter valued at approximately $1,721,000. Axxcess Wealth Management LLC lifted its stake in ExxonMobil by 2.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 150,647 shares of the oil and gas company's stock valued at $18,129,000 after purchasing an additional 3,560 shares during the last quarter. Finally, Birchwood Financial Partners Inc. bought a new position in ExxonMobil during the fourth quarter valued at $411,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil advanced a major new exploration push in Guyana’s Stabroek Block, planning up to 35 additional wells from 2028 through 2033, which could add long-term production growth. Article Title
• Positive Sentiment: The company signed a preliminary deal to supply LNG to South Africa’s first planned import terminal, expanding its international gas footprint and supporting its LNG growth strategy. Article Title
• Positive Sentiment: Analysts continue to view ExxonMobil as relatively resilient versus the broader oil market because of its low-cost, diversified production base. Article Title

Wall Street Analyst Weigh In

A number of research firms have issued reports on XOM. Mizuho raised their target price on ExxonMobil from $159.00 to $175.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. increased their price target on ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Bank of America raised ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price objective for the company in a report on Tuesday. Wolfe Research cut ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group upped their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Eleven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $165.70.

ExxonMobil Trading Down 2.1%

Shares of XOM stock opened at $137.84 on Friday. The stock has a market capitalization of $571.36 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 0.60 and a beta of 0.16. The company's fifty day simple moving average is $150.34 and its two-hundred day simple moving average is $143.26. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly 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 analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. As a group, analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. ExxonMobil's dividend payout ratio is 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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.