Martingale Asset Management L P Has $37.96 Million Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Martingale Asset Management cut its ExxonMobil stake by 9.6% in the fourth quarter, but still held 315,403 shares valued at about $37.96 million. ExxonMobil remains one of the firm’s larger positions, making up roughly 1% of its portfolio.
• Several other institutional investors also made small increases to their ExxonMobil holdings, and overall institutional ownership stands at 61.8%. That suggests continued broad investor interest in the stock despite modest portfolio changes.
• ExxonMobil has seen a mix of positive catalysts: analysts at several firms raised price targets, the company beat quarterly earnings and revenue estimates, and it recently paid a $1.03 quarterly dividend yielding about 2.8%. The stock also has a consensus analyst rating of Hold with a price target of $165.55.

Martingale Asset Management L P lessened its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 315,403 shares of the oil and gas company's stock after selling 33,635 shares during the quarter. ExxonMobil accounts for approximately 1.0% of Martingale Asset Management L P's investment portfolio, making the stock its 12th biggest position. Martingale Asset Management L P's holdings in ExxonMobil were worth $37,956,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of XOM. ICW Investment Advisors LLC boosted its stake in shares of ExxonMobil by 0.3% in the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company's stock worth $3,043,000 after buying an additional 69 shares during the last quarter. Peoples Bank OH boosted its stake in shares of ExxonMobil by 0.5% in the 4th quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company's stock worth $1,804,000 after buying an additional 71 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of ExxonMobil by 1.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company's stock worth $887,000 after buying an additional 72 shares during the last quarter. Peirce Capital Management LLC boosted its stake in shares of ExxonMobil by 1.7% in the 4th quarter. Peirce Capital Management LLC now owns 4,292 shares of the oil and gas company's stock worth $516,000 after buying an additional 72 shares during the last quarter. Finally, Studio Investment Management LLC boosted its stake in shares of ExxonMobil by 0.8% in the 4th quarter. Studio Investment Management LLC now owns 8,698 shares of the oil and gas company's stock worth $1,047,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Trending Headlines about ExxonMobil

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

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the transaction, the vice president owned 17,124 shares of the company's stock, valued at $2,662,782. This represents a 5.93% 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. 0.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Wells Fargo & Company upped their price objective on ExxonMobil from $183.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Jefferies Financial Group upped their price objective on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Mizuho upped their price objective on ExxonMobil from $159.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $165.55.

ExxonMobil Trading Up 0.1%

NYSE:XOM opened at $146.80 on Friday. The company has a market cap of $608.47 billion, a P/E ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. The stock's fifty day moving average price is $152.09 and its two-hundred day moving average price is $142.36. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion for 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 business's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. As a group, analysts expect that ExxonMobil Corporation will post 11.8 EPS 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 paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis 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%.

ExxonMobil Company 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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