Madison Asset Management LLC Increases Stake in ExxonMobil Corporation $XOM

Key Points

• Madison Asset Management increased its ExxonMobil stake by 60.6% in the fourth quarter, adding 84,129 shares to bring its total to 222,970 shares valued at about $26.8 million.
• ExxonMobil reported better-than-expected first-quarter earnings of $1.16 per share on revenue of $83.16 billion, topping analyst estimates even though earnings were below the same period last year.
• The company announced a quarterly dividend of $1.03 per share, implying an annualized payout of $4.12 and a dividend yield of 2.7%.

Madison Asset Management LLC boosted its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 60.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 222,970 shares of the oil and gas company's stock after acquiring an additional 84,129 shares during the period. Madison Asset Management LLC's holdings in ExxonMobil were worth $26,832,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Peoples Bank OH raised its position in shares of ExxonMobil by 0.5% in the fourth quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company's stock valued at $1,804,000 after purchasing an additional 71 shares during the period. MOKAN Wealth Management Inc. boosted its holdings in ExxonMobil by 1.3% in the 4th quarter. MOKAN Wealth Management Inc. now owns 5,903 shares of the oil and gas company's stock worth $711,000 after buying an additional 77 shares during the period. Field & Main Bank boosted its holdings in ExxonMobil by 0.3% in the 4th quarter. Field & Main Bank now owns 23,393 shares of the oil and gas company's stock worth $2,815,000 after buying an additional 78 shares during the period. Capstone Wealth Management LLC grew its stake in ExxonMobil by 3.1% in the 4th quarter. Capstone Wealth Management LLC now owns 2,606 shares of the oil and gas company's stock valued at $314,000 after buying an additional 79 shares in the last quarter. Finally, Birchbrook Inc. raised its holdings in ExxonMobil by 0.8% during the 4th quarter. Birchbrook Inc. now owns 9,716 shares of the oil and gas company's stock valued at $1,169,000 after acquiring an additional 79 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

ExxonMobil Stock Up 0.6%

XOM stock opened at $150.59 on Wednesday. The company's 50 day moving average is $154.92 and its 200 day moving average is $136.80. The stock has a market cap of $624.17 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 0.66 and a beta of 0.19. 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 Corporation has a 1-year low of $101.18 and a 1-year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the business posted $1.76 earnings per share. ExxonMobil's revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts predict that ExxonMobil Corporation will post 11.45 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil's payout ratio is currently 69.48%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Scotiabank boosted their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. Citigroup increased their price objective on ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. Zacks Research upgraded ExxonMobil from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 21st. Finally, Barclays upped their price target on ExxonMobil from $145.00 to $163.00 and gave the company an "overweight" rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.95.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is being highlighted as a blue-chip dividend stock, with UBS recently raising its price target and investors continuing to favor large integrated oil companies for income and stability.
• Positive Sentiment: Rising crude prices and fuel-market disruption tied to Middle East tensions could support ExxonMobil’s upstream earnings, while its large Beaumont refinery may benefit from cheaper domestic crude and wider refining margins.
• Positive Sentiment: Recent commentary also points to ExxonMobil’s strong one-year rally and its scale in the Dow and global energy markets as evidence of durable investor appeal.
• Neutral Sentiment: Some investors are questioning whether ExxonMobil is still a value buy after its strong run, noting that the stock has pulled back modestly from recent highs and may already reflect much of the good news.
• Neutral Sentiment: The company’s upcoming ex-dividend date may draw income investors, but it is more of a routine calendar event than a major fundamental catalyst.
• Negative Sentiment: Proxy adviser ISS recommended shareholders vote against ExxonMobil’s plan to move its registration to Texas, citing concerns that the change could make it harder for shareholders to hold directors and officers accountable.

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 2,150 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president owned 18,204 shares of the company's stock, valued at $2,872,955.28. This represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.03% of the company's stock.

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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