Meiji Yasuda Asset Management Co Ltd. Reduces Stock Position in ExxonMobil Corporation $XOM

Key Points

• Meiji Yasuda Asset Management trimmed its ExxonMobil stake by 3.4% in the fourth quarter, selling 6,612 shares and leaving it with 187,209 shares valued at about $22.5 million.
• ExxonMobil beat earnings expectations in its latest quarterly results, reporting $1.16 EPS versus estimates of $0.98 and revenue of $83.16 billion, while revenue rose 2.4% year over year.
• The company declared a quarterly dividend of $1.03 per share, equal to an annualized payout of $4.12 and a 2.7% yield, as Wall Street maintained a consensus rating of “Moderate Buy.”

Meiji Yasuda Asset Management Co Ltd. lowered its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,209 shares of the oil and gas company's stock after selling 6,612 shares during the quarter. ExxonMobil accounts for approximately 1.1% of Meiji Yasuda Asset Management Co Ltd.'s holdings, making the stock its 12th biggest holding. Meiji Yasuda Asset Management Co Ltd.'s holdings in ExxonMobil were worth $22,529,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil in the fourth quarter valued at $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil in the fourth quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of ExxonMobil by 456.1% in the fourth 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 buying an additional 187 shares in the last quarter. Key Capital Management INC purchased a new position in shares of ExxonMobil in the fourth quarter valued at $28,000. Finally, Westfuller Advisors LLC purchased a new position in shares of ExxonMobil in the third quarter valued at $30,000. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Trading Down 0.6%

ExxonMobil stock opened at $155.38 on Friday. The stock has a market cap of $644.06 billion, a PE ratio of 26.20, a P/E/G ratio of 0.68 and a beta of 0.19. The stock has a 50-day moving average price of $155.73 and a 200 day moving average price of $138.83. ExxonMobil Corporation has a 52 week low of $101.18 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm 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%. ExxonMobil's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 EPS. Equities research analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. HSBC raised their price objective on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research note on Friday, March 20th. Sanford C. Bernstein dropped their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. Bank of America raised their price objective on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Barclays raised their price objective on shares of ExxonMobil from $145.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Finally, Morgan Stanley dropped their price objective on shares of ExxonMobil from $172.00 to $171.00 and set an "overweight" rating for the company in a research note on Friday, April 17th. One investment 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $163.95.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is reportedly in talks to acquire rights to produce oil in Venezuela, a potential reopening of a market it left roughly 20 years ago and had recently called “uninvestable,” which could add a meaningful long-term production opportunity if geopolitical conditions allow. Article Title
• Positive Sentiment: Exxon, QatarEnergy, and Egypt signed a preliminary agreement to study Cyprus gas development, reinforcing ExxonMobil’s LNG and gas growth strategy and its ability to monetize new discoveries through existing regional infrastructure. Article Title
• Positive Sentiment: Analyst commentary highlighted ExxonMobil’s resilience, pointing to its strong balance sheet, low debt, and ability to keep funding projects and dividends even when oil and gas prices fluctuate. Article Title
• Positive Sentiment: ExxonMobil’s LNG footprint is expanding, with coverage noting rising power demand and additional export capacity as supportive of long-term growth. Article Title
• Neutral Sentiment: Technical analysis suggests XOM is pulling back after a breakout and testing support levels, which leaves the near-term trend dependent on whether buyers defend those levels. Article Title
• Neutral Sentiment: Several articles on valuation, peer comparisons, and “top oil stock” watchlists may support investor interest, but they do not add a major new fundamental catalyst by themselves. Article Title
• Negative Sentiment: Ongoing governance and proxy-adviser conflict headlines, including Exxon’s fight with ISS and Glass Lewis, keep legal and boardroom friction in view and could weigh on sentiment if the dispute escalates. Article Title

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil 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 completion of the sale, the vice president owned 17,124 shares of the company's stock, valued at $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by corporate insiders.

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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