Marietta Investment Partners LLC Purchases 10,680 Shares of ExxonMobil Corporation $XOM

Key Points

• Marietta Investment Partners increased its ExxonMobil stake by 22.3% in the first quarter, buying 10,680 shares and bringing its total holdings to 58,674 shares valued at about $9.96 million.
• Institutional interest remains strong, with hedge funds and asset managers owning 61.8% of ExxonMobil shares and several firms making large recent purchases or major increases in their positions.
• Analysts are generally constructive on XOM, with a consensus rating of “Moderate Buy” and a consensus price target of $164.45, while ExxonMobil also reported earnings and revenue that topped expectations in its latest quarter.

Marietta Investment Partners LLC raised its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,674 shares of the oil and gas company's stock after acquiring an additional 10,680 shares during the period. ExxonMobil comprises approximately 2.0% of Marietta Investment Partners LLC's holdings, making the stock its 12th largest holding. Marietta Investment Partners LLC's holdings in ExxonMobil were worth $9,955,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in ExxonMobil in the fourth quarter worth $7,625,063,000. Mercer Global Advisors Inc. ADV raised its stake in shares of ExxonMobil by 218.4% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock valued at $155,696,000 after buying an additional 2,546,791 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock worth $1,925,119,000 after acquiring an additional 2,465,410 shares during the period. Van ECK Associates Corp lifted its holdings in shares of ExxonMobil by 334.4% during the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after acquiring an additional 2,357,467 shares during the period. Finally, Diamant Asset Management Inc. boosted its position in shares of ExxonMobil by 17,312.4% during the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock valued at $370,514,000 after acquiring an additional 2,171,322 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on XOM. Bank of America raised shares of ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 target price on the stock in a research note on Tuesday, June 16th. Morgan Stanley decreased their price objective on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Weiss Ratings lowered ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Sanford C. Bernstein dropped their target price on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Finally, Citigroup restated a "neutral" rating on shares of ExxonMobil in a research report on Wednesday. Eleven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.45.

ExxonMobil Stock Performance

NYSE XOM opened at $137.31 on Friday. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The company has a 50 day moving average of $146.53 and a 200-day moving average of $145.43. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm has a market cap of $569.12 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil's revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 EPS. On average, equities analysts forecast that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. ExxonMobil's payout ratio is currently 69.48%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM's Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

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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