Panagora Asset Management Inc. Grows Stock Position in ExxonMobil Corporation $XOM

Key Points

• Panagora Asset Management sharply increased its ExxonMobil stake by 89.2% in the fourth quarter, adding 692,376 shares to reach 1,468,330 shares valued at about $176.7 million.
• ExxonMobil continues to draw mixed analyst views, with recent price-target changes ranging from $151 to $184 and a current consensus rating of Hold with an average target of $165.55.
• The company reported stronger-than-expected quarterly results and continues paying a sizable dividend, while recent headlines highlight both growth opportunities in Guyana and pressure from weaker oil prices.

Panagora Asset Management Inc. increased its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 89.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,468,330 shares of the oil and gas company's stock after buying an additional 692,376 shares during the period. ExxonMobil comprises about 0.6% of Panagora Asset Management Inc.'s holdings, making the stock its 27th largest position. Panagora Asset Management Inc.'s holdings in ExxonMobil were worth $176,699,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Perryman Financial Advisory Inc. AD purchased a new position in ExxonMobil in the 4th quarter valued at about $8,455,000. Piedmont Capital Management LLC lifted its holdings in ExxonMobil by 1.4% in the 4th quarter. Piedmont Capital Management LLC now owns 6,062 shares of the oil and gas company's stock valued at $729,000 after purchasing an additional 84 shares in the last quarter. Piedmont Capital Management LLC NC purchased a new position in ExxonMobil in the 4th quarter valued at about $517,000. Resources Management Corp CT ADV lifted its holdings in ExxonMobil by 57.9% in the 4th quarter. Resources Management Corp CT ADV now owns 55,561 shares of the oil and gas company's stock valued at $6,686,000 after purchasing an additional 20,376 shares in the last quarter. Finally, South Plains Financial Inc. lifted its holdings in ExxonMobil by 14.3% in the 4th quarter. South Plains Financial Inc. now owns 9,421 shares of the oil and gas company's stock valued at $1,134,000 after purchasing an additional 1,182 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil applied for environmental authorization for a 35-well exploration campaign offshore Guyana, signaling continued investment in one of its most important long-term growth areas. Exxon Mobil seeks environmental permit for exploration in offshore Guyana
• Positive Sentiment: Analysts noted that stronger oil prices could still boost ExxonMobil’s energy business because its low-cost Permian and Guyana assets are well positioned to benefit in a favorable crude market. Will Strong Oil Prices Boost ExxonMobil's Energy Business?
• Neutral Sentiment: Reports that ExxonMobil is weighing an early-stage bid for Woodside Energy were followed by Woodside denying any takeover talks, making the M&A speculation unclear for investors. ExxonMobil weighs early stage bid for Woodside Energy Group
• Negative Sentiment: ExxonMobil stock fell as the broader market rose, reflecting a sector-specific selloff tied to weaker oil prices and reduced optimism for near-term energy earnings. Exxon Mobil (XOM) Stock Falls Amid Market Uptick: What Investors Need to Know

Analysts Set New Price Targets

A number of research analysts have issued reports on XOM shares. Bank of America upped their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the company a "neutral" rating in a report on Monday, March 2nd. UBS Group upped their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a report on Monday, May 4th. Jefferies Financial Group upped their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, April 9th. Sanford C. Bernstein reduced their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a report on Monday, May 11th. Finally, Weiss Ratings lowered shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $165.55.

ExxonMobil Trading Down 4.2%

Shares of XOM stock opened at $140.86 on Tuesday. The firm has a market cap of $583.84 billion, a P/E ratio of 23.75, a PEG ratio of 0.62 and a beta of 0.16. 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. The firm's 50-day simple moving average is $151.69 and its 200-day simple moving average is $142.73.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 EPS. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.8 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is 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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