Legal & General Group Plc Sells 504,316 Shares of ExxonMobil Corporation $XOM

Key Points

• Legal & General Group Plc trimmed its ExxonMobil stake by 2.5% in the fourth quarter, selling 504,316 shares and leaving it with about 19.9 million shares valued at roughly $2.39 billion.
• ExxonMobil recently reported better-than-expected Q1 results, posting $1.16 EPS versus estimates of $0.98 and revenue of $83.16 billion versus expectations of $81.13 billion.
• The company also announced a quarterly dividend of $1.03 per share, implying a 2.7% annualized yield, while analysts currently rate the stock a consensus Moderate Buy with a $163.95 price target.

Legal & General Group Plc reduced its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,892,018 shares of the oil and gas company's stock after selling 504,316 shares during the period. ExxonMobil makes up 0.5% of Legal & General Group Plc's portfolio, making the stock its 23rd largest holding. Legal & General Group Plc owned approximately 0.47% of ExxonMobil worth $2,393,805,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of XOM. Capital Investment Advisors LLC increased its holdings in shares of ExxonMobil by 6.6% in the 4th quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock worth $27,857,000 after buying an additional 14,233 shares during the last quarter. New Age Alpha Advisors LLC increased its holdings in shares of ExxonMobil by 5.6% in the 3rd quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock worth $18,778,000 after buying an additional 8,853 shares during the last quarter. HORAN Wealth LLC increased its holdings in shares of ExxonMobil by 78.3% in the 3rd quarter. HORAN Wealth LLC now owns 13,180 shares of the oil and gas company's stock worth $1,486,000 after buying an additional 5,788 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of ExxonMobil by 46.6% in the 3rd quarter. Krilogy Financial LLC now owns 35,160 shares of the oil and gas company's stock worth $3,997,000 after buying an additional 11,177 shares during the last quarter. Finally, Varma Mutual Pension Insurance Co increased its holdings in shares of ExxonMobil by 8.6% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 655,303 shares of the oil and gas company's stock worth $73,885,000 after buying an additional 51,900 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on XOM shares. Wells Fargo & Company boosted their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. HSBC boosted 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. Zacks Research upgraded shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Morgan Stanley reduced their target price on shares of ExxonMobil from $172.00 to $171.00 and set an "overweight" rating on the stock in a report on Friday, April 17th. Finally, UBS Group boosted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $163.95.

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $154.82 on Monday. The company has a market capitalization of $641.71 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 0.68 and a beta of 0.19. ExxonMobil Corporation has a 12 month low of $101.18 and a 12 month high of $176.41. The firm's 50-day moving average is $155.79 and its 200 day moving average is $139.12. 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 quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion for 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 firm's revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.76 EPS. Research analysts predict that ExxonMobil Corporation will post 11.49 EPS for the current year.

ExxonMobil Dividend Announcement

The company also recently declared 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. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, May 15th. ExxonMobil's dividend payout ratio is presently 69.48%.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 2,150 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $157.82, for a total transaction of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares in the company, valued at approximately $2,872,955.28. This represents a 10.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil's Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

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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