Lord Abbett & CO. LLC Sells 151,550 Shares of ExxonMobil Corporation $XOM

Key Points

• Lord Abbett & CO. LLC cut its ExxonMobil stake by 5.2% in the fourth quarter, selling 151,550 shares and ending with 2.78 million shares valued at about $334.1 million.
• ExxonMobil reported stronger-than-expected first-quarter earnings, with EPS of $1.16 versus estimates of $0.98 and revenue of $83.16 billion, topping analyst forecasts.
• The company continues to reward shareholders with a quarterly dividend of $1.03 per share, equal to a 2.8% annualized yield, while analysts currently rate the stock a consensus Hold with an average target price of $165.55.

Lord Abbett & CO. LLC decreased its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,776,164 shares of the oil and gas company's stock after selling 151,550 shares during the period. ExxonMobil makes up approximately 1.0% of Lord Abbett & CO. LLC's holdings, making the stock its 16th biggest position. Lord Abbett & CO. LLC owned 0.07% of ExxonMobil worth $334,084,000 at the end of the most recent reporting period.

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

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares of the company's stock, valued at approximately $2,662,782. This represents a 5.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.03% of the company's stock.

ExxonMobil Trading Up 0.1%

ExxonMobil stock opened at $146.80 on Friday. The firm has a 50 day moving average of $152.09 and a 200 day moving average of $142.36. The firm has a market capitalization of $608.47 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. 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 released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The company 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 firm's quarterly 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. As a group, research analysts predict that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is currently 69.48%.

Analysts Set New Price Targets

A number of brokerages have weighed in on XOM. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. Barclays upped their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Citigroup upped their price target on shares of ExxonMobil from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Finally, Jefferies Financial Group upped their price target on shares of ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $165.55.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

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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