Nan Shan Life Insurance Co. Ltd. Acquires Shares of 331,522 ExxonMobil Corporation $XOM

Key Points

• Nan Shan Life Insurance acquired 331,522 ExxonMobil shares in the second quarter, valued at approximately $45.3 million. Institutional investors collectively own 61.8% of XOM.
• Analysts maintain a consensus “Hold” rating with an average price target of $166.10, while ExxonMobil shares recently traded at $164.55. The company reported quarterly revenue above estimates but narrowly missed earnings expectations.
• ExxonMobil announced a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.5% yield. Potential growth catalysts include a possible return to Venezuela, higher oil prices, and a reported bid for Shell’s U.S. chemical assets.

Nan Shan Life Insurance Co. Ltd. acquired a new stake in ExxonMobil Corporation (NYSE:XOM - Free Report) in the second quarter, according to its most recent filing with the SEC. The fund acquired 331,522 shares of the oil and gas company's stock, valued at approximately $45,326,000. ExxonMobil makes up 1.5% of Nan Shan Life Insurance Co. Ltd.'s holdings, making the stock its 24th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of XOM. Bank of America Corp DE boosted its position in shares of ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company's stock valued at $9,043,836,000 after acquiring an additional 1,457,560 shares during the last quarter. Norges Bank bought a new position in shares of ExxonMobil during the fourth quarter valued at about $7,625,063,000. Bank of New York Mellon Corp raised its stake in shares of ExxonMobil by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company's stock valued at $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock worth $4,102,708,000 after purchasing an additional 293,446 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

XOM has been the subject of a number of recent analyst reports. TD Cowen upped their price target on ExxonMobil from $155.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Wells Fargo & Company restated an "overweight" rating and issued a $182.00 price objective on shares of ExxonMobil in a report on Monday, August 3rd. HSBC set a $158.00 target price on shares of ExxonMobil in a research report on Monday, August 3rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Finally, Piper Sandler assumed coverage on ExxonMobil in a research report on Thursday, July 23rd. They set a "neutral" rating and a $158.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, ExxonMobil presently has a consensus rating of "Hold" and an average target price of $166.10.

ExxonMobil Trading Up 2.2%

Shares of NYSE:XOM opened at $164.55 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. ExxonMobil Corporation has a 1 year low of $108.35 and a 1 year high of $176.41. The company has a market cap of $682.05 billion, a P/E ratio of 21.18, a PEG ratio of 0.99 and a beta of 0.17. The stock's fifty day moving average price is $151.47 and its 200-day moving average price is $152.01.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the previous year, the business posted $1.64 earnings per share. Sell-side analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil's payout ratio is 53.02%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Potential return to Venezuela: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially giving XOM access to large oil reserves and a long-term production opportunity after its exit from the country in 2007. The company reportedly sent a technical team to evaluate opportunities earlier this year. Trump says Exxon is going in Venezuela
• Positive Sentiment: Higher oil prices are supporting the sector: Renewed conflict involving Iran and ongoing shipping constraints around the Strait of Hormuz pushed crude prices higher, improving the near-term earnings outlook for integrated producers such as ExxonMobil. Energy stocks and related ETFs advanced alongside the commodity rally. Oil prices rise amid Iran conflict
• Positive Sentiment: Possible chemicals expansion: ExxonMobil is reportedly among bidders for Shell’s U.S. chemicals assets, potentially for about $8 billion. Acquiring the plants could deepen XOM’s chemicals presence, although the purchase price and returns remain uncertain. ExxonMobil bid for Shell chemicals assets

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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