North Dakota State Investment Board Buys Shares of 148,678 ExxonMobil Corporation $XOM

Key Points

• North Dakota State Investment Board disclosed a new stake in ExxonMobil, buying 148,678 shares valued at about $17.9 million. The holding now represents roughly 0.7% of its portfolio and is its 19th-largest position.
• ExxonMobil’s latest earnings topped expectations, with quarterly EPS of $1.16 versus forecasts of $0.98 and revenue of $83.16 billion, helped by stronger operations. The company also reaffirmed shareholder returns with a quarterly dividend of $1.03 per share.
• Recent news has been mostly positive for ExxonMobil, including support from higher oil prices, a jury finding the company not liable in a long-running investor lawsuit, and renewed drilling activity in Guyana. However, some analysts have trimmed price targets and investors are voicing concerns over the company’s proposed move from New Jersey to Texas.

North Dakota State Investment Board bought a new stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 148,678 shares of the oil and gas company's stock, valued at approximately $17,892,000. ExxonMobil makes up about 0.7% of North Dakota State Investment Board's portfolio, making the stock its 19th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil in the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. boosted its position in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 187 shares in the last quarter. Key Capital Management INC acquired a new stake in shares of ExxonMobil in the 4th quarter worth $28,000. Westfuller Advisors LLC acquired a new stake in shares of ExxonMobil in the 3rd quarter worth $30,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil in the 4th quarter worth $32,000. Institutional investors own 61.80% of the company's stock.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

Analyst Upgrades and Downgrades

XOM has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered their price objective on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research report on Monday, May 11th. Wolfe Research cut ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. Piper Sandler lowered their price target on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the stock a "neutral" rating in a research report on Friday, April 17th. Finally, HSBC lifted their price target on ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $163.95.

Insider Buying and Selling at ExxonMobil

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares in the company, valued at approximately $2,872,955.28. This trade represents a 10.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.03% of the company's stock.

ExxonMobil Stock Performance

Shares of XOM opened at $157.72 on Monday. The stock has a 50-day moving average of $155.05 and a two-hundred day moving average of $137.61. ExxonMobil Corporation has a one year low of $101.18 and a one year high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock has a market cap of $653.72 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.69 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. As a group, research analysts predict that ExxonMobil Corporation will post 11.5 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is presently 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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