Kahn Brothers Group Inc. Invests $2.41 Million in ExxonMobil Corporation $XOM

Key Points

• Kahn Brothers Group purchased 17,655 ExxonMobil shares worth approximately $2.41 million during the second quarter, while institutional investors collectively own 61.8% of XOM.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a consensus price target of $166.10; recent targets range from $158 to $182.
• ExxonMobil reported quarterly revenue of $114.53 billion and EPS of $3.52, and declared a $1.03 quarterly dividend, equivalent to a 2.6% yield and marking 43 consecutive years of annual dividend increases.

Kahn Brothers Group Inc. purchased a new stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,655 shares of the oil and gas company's stock, valued at approximately $2,414,000. ExxonMobil comprises approximately 0.0% of Kahn Brothers Group Inc.'s holdings, making the stock its 29th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in XOM. Eagle Capital Management LLC raised its position 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 buying an additional 376 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of ExxonMobil during the 1st quarter valued at about $305,000. Sivia Capital Partners LLC grew its stake in shares of ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock worth $1,211,000 after acquiring an additional 207 shares during the period. United Bank grew its stake in shares of ExxonMobil by 2.8% in the second quarter. United Bank now owns 21,821 shares of the oil and gas company's stock worth $2,352,000 after acquiring an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. raised its holdings in shares of ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after purchasing an additional 5,443 shares during the last quarter. Institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of ExxonMobil from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Freedom Capital raised shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. HSBC set a $158.00 target price on shares of ExxonMobil in a research note on Monday, August 3rd. Wells Fargo & Company reissued an "overweight" rating and set a $182.00 price target on shares of ExxonMobil in a report on Monday, August 3rd. Finally, TD Cowen raised their price target on ExxonMobil from $155.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Ten equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $166.10.

ExxonMobil Stock Performance

XOM opened at $156.70 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The company has a market cap of $649.51 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 0.62 and a beta of 0.17. The company's 50 day moving average is $150.15 and its 200 day moving average is $151.84. ExxonMobil Corporation has a 12-month low of $108.35 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. During the same period in the prior year, the company posted $1.64 earnings per share. On average, equities research analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil's dividend payout ratio is 53.02%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is reportedly among the potential bidders for Shell’s U.S. chemicals assets, a transaction that could be worth up to $8 billion. The deal could expand ExxonMobil’s chemicals operations, although it would also require disciplined valuation and capital allocation. Potential Bidders Are Looking at Shell’s Chemical Assets
• Positive Sentiment: ExxonMobil’s low debt burden and solid balance sheet give it flexibility to maintain operations, pursue acquisitions and return capital to shareholders during periods of weaker oil and gas prices. Why ExxonMobil's Financial Strength Matters for Investors
• Positive Sentiment: Permian Basin production reached a record, and planned expansion supports continued upstream volume growth. Analysts also view ExxonMobil as well positioned among major oil stocks, with Morgan Stanley suggesting the shares could eventually challenge their record high. Can ExxonMobil's Permian Growth Keep Driving Upstream Momentum?
• Positive Sentiment: ExxonMobil’s 43-year record of annual dividend increases continues to support its appeal to income-focused investors, despite the more moderate pace of recent increases. ExxonMobil Has Raised Its Dividend 43 Years in a Row
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ 40th Annual Energy-Power Conference, giving investors a potential update on strategy, production and capital returns. ExxonMobil to Speak at Barclays Conference
• Negative Sentiment: Oil prices have fallen for several sessions as markets treat Iran-related sanctions as negotiating pressure rather than an immediate threat to supply. The fading “Iran premium” is pressuring energy shares, including XOM. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on broader equity valuations. These Three Stocks Are Must-Owns After the PCE Data

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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