Luts & Greenleigh Group Inc. Cuts Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Luts & Greenleigh Group Inc. reduced its ExxonMobil stake by 4.9% in the first quarter, selling 12,036 shares and leaving it with 233,646 shares valued at about $39.64 million. ExxonMobil remains its largest holding, making up 31.4% of the portfolio.
• ExxonMobil reported better-than-expected first-quarter earnings, posting $1.16 per share versus the $0.98 consensus estimate, on revenue of $83.16 billion. Revenue rose 2.4% year over year, and analysts now expect full-year EPS of 11.38.
• The company also paid a quarterly dividend of $1.03 per share, equal to an annualized payout of $4.12 and a yield of 2.8%. Analyst sentiment remains constructive overall, with a consensus Moderate Buy rating and an average price target of $164.45.

Luts & Greenleigh Group Inc. cut its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 4.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 233,646 shares of the oil and gas company's stock after selling 12,036 shares during the period. ExxonMobil makes up 31.4% of Luts & Greenleigh Group Inc.'s holdings, making the stock its largest position. Luts & Greenleigh Group Inc.'s holdings in ExxonMobil were worth $39,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of XOM. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil in the 4th quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after acquiring an additional 187 shares in the last quarter. Key Capital Management INC bought a new stake in ExxonMobil in the 4th quarter valued at approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in ExxonMobil during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Trading Up 1.1%

Shares of ExxonMobil stock opened at $147.56 on Friday. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The stock has a market cap of $611.62 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.61 and a beta of 0.17. 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 business's 50 day moving average is $145.78 and its 200-day moving average is $146.31.

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 for the quarter, beating the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the business earned $1.76 earnings per share. Equities research analysts predict that ExxonMobil Corporation will post 11.38 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

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

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil's Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation NYSE: XOM Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

Analyst Ratings Changes

XOM has been the subject of several research reports. Barclays raised their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Citigroup restated a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. Mizuho decreased their target price on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Finally, BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a "neutral" rating in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.45.

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.