Northwestern Mutual Wealth Management Co. Sells 95,885 Shares of ExxonMobil Corporation $XOM

Key Points

• Northwestern Mutual Wealth Management Co. reduced its ExxonMobil stake by 13.5%, selling 95,885 shares and retaining 612,761 shares valued at approximately $83.8 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil reported quarterly EPS of $3.52, slightly below the $3.56 consensus estimate, while revenue of $114.53 billion exceeded expectations. The company declared a quarterly dividend of $1.03, representing a 2.5% annualized yield.
• Analyst sentiment remains mixed, with XOM carrying an overall “Hold” rating and an average price target of $166.10; individual targets ranged from $156 to $182.

Northwestern Mutual Wealth Management Co. decreased its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 13.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 612,761 shares of the oil and gas company's stock after selling 95,885 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in ExxonMobil were worth $83,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Eagle Capital Management LLC increased its holdings in shares of ExxonMobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock valued at $337,000 after acquiring an additional 376 shares during the period. Caxton Associates LLP bought a new stake in ExxonMobil during the first quarter valued at about $305,000. Sivia Capital Partners LLC grew its stake in ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock valued at $1,211,000 after purchasing an additional 207 shares during the last quarter. United Bank raised its holdings in ExxonMobil by 2.8% in the second quarter. United Bank now owns 21,821 shares of the oil and gas company's stock worth $2,352,000 after purchasing an additional 600 shares in the last quarter. Finally, Schnieders Capital Management LLC. lifted its position in shares of ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after buying an additional 5,443 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Trading Up 2.2%

ExxonMobil stock opened at $164.55 on Wednesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 52 week low of $108.35 and a 52 week high of $176.41. The company has a market capitalization of $682.05 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 0.99 and a beta of 0.17. The stock has a 50-day moving average price of $151.47 and a 200 day moving average price of $152.01.

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

ExxonMobil Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on XOM. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $182.00 price objective on shares of ExxonMobil in a research report on Monday, August 3rd. Bank of America downgraded shares of ExxonMobil from a "buy" rating to a "neutral" rating and raised their target price for the company from $154.00 to $158.00 in a research note on Tuesday, July 28th. TD Cowen lifted their price target on shares of ExxonMobil from $155.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, August 7th. DZ Bank lowered ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 price objective for the company. in a report on Tuesday, August 4th. Finally, Weiss Ratings raised ExxonMobil from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $166.10.

Trending Headlines about 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

About ExxonMobil

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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