Perpetual Ltd Sells 5,990 Shares of ExxonMobil Corporation $XOM

Key Points

• Perpetual Ltd reduced its ExxonMobil position by 13.8%, selling 5,990 shares and retaining 37,525 shares valued at approximately $6.1 million. Institutional investors collectively own 61.8% of XOM.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $164.78, below the reported share price of $174.25.
• ExxonMobil’s performance remains tied to energy prices: higher oil prices could support earnings and cash flow, while declining crude prices, weaker free cash flow and expected earnings declines could pressure its valuation and dividend-growth record.

Perpetual Ltd cut its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,525 shares of the oil and gas company's stock after selling 5,990 shares during the period. Perpetual Ltd's holdings in ExxonMobil were worth $6,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XOM. Dimensional Fund Advisors LP raised its position in shares of ExxonMobil by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 28,364,314 shares of the oil and gas company's stock worth $4,812,790,000 after purchasing an additional 1,540,902 shares during the period. Amundi increased its stake in ExxonMobil by 5.1% during the 1st quarter. Amundi now owns 24,511,156 shares of the oil and gas company's stock worth $4,158,563,000 after purchasing an additional 1,192,386 shares in the last quarter. Invesco Ltd. increased its stake in ExxonMobil by 3.4% during the 4th quarter. Invesco Ltd. now owns 17,367,358 shares of the oil and gas company's stock worth $2,089,988,000 after purchasing an additional 577,181 shares in the last quarter. GQG Partners LLC raised its holdings in ExxonMobil by 153.3% during the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company's stock worth $2,307,497,000 after buying an additional 10,214,420 shares during the period. Finally, Swiss National Bank raised its holdings in ExxonMobil by 5.9% during the 1st quarter. Swiss National Bank now owns 12,376,418 shares of the oil and gas company's stock worth $2,099,783,000 after buying an additional 693,800 shares during the period. 61.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on XOM shares. Piper Sandler raised their price objective on shares of ExxonMobil from $158.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. BNP Paribas Exane reduced their target price on shares of ExxonMobil from $165.00 to $155.00 and set a "neutral" rating for the company in a research note on Friday, July 17th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $180.00 target price (up from $160.00) on shares of ExxonMobil in a report on Monday, September 21st. Citigroup reissued a "neutral" rating and issued a $175.00 price target (up from $150.00) on shares of ExxonMobil in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company restated an "equal weight" rating and issued a $182.00 price target on shares of ExxonMobil in a report on Thursday, October 1st. Eleven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $164.78.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil prices above $90 per barrel could support ExxonMobil’s earnings and cash flow, particularly through its low-cost Permian Basin and Guyana operations. Will Elevated Crude Prices Enhance ExxonMobil’s Cash Flows?
• Positive Sentiment: ExxonMobil posted adjusted second-quarter earnings of $14.7 billion, up from $8.8 billion in the first quarter, demonstrating its ability to benefit from disrupted energy markets and stronger commodity prices. ExxonMobil Trades at a Premium Yet Earnings Are Expected to Shrink
• Neutral Sentiment: Port Houston will present ExxonMobil with its annual Lone Star Award, recognizing the company’s longstanding partnership and importance to the Houston Ship Channel. The award supports ExxonMobil’s corporate reputation but has no direct financial impact. ExxonMobil to Receive Port Houston’s Lone Star Award
• Negative Sentiment: Analysts note that ExxonMobil trades at a premium while earnings are expected to decline from elevated levels, raising the risk that the stock’s valuation may become harder to justify if oil prices weaken. ExxonMobil Trades at a Premium Yet Earnings Are Expected to Shrink
• Negative Sentiment: Guyana may scale back LNG plans because ExxonMobil needs more gas for its oil wells. While prioritizing oil production could benefit near-term output, a smaller LNG project would reduce a potential future growth opportunity. Guyana May Scale Back LNG Plans
• Negative Sentiment: Sliding crude prices and a reported 61% quarterly decline in free cash flow are increasing scrutiny of ExxonMobil’s ability to maintain its 43-year record of annual dividend increases. Exxon’s Dividend Streak Faces a Test

ExxonMobil Stock Performance

Shares of XOM stock opened at $174.25 on Wednesday. The stock has a market cap of $722.26 billion, a P/E ratio of 20.82, a P/E/G ratio of 1.01 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The company has a fifty day moving average price of $162.41 and a two-hundred day moving average price of $154.31. ExxonMobil Corporation has a one year low of $110.39 and a one year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. The business had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same period in the prior year, the business earned $1.64 EPS. As a group, equities analysts predict that ExxonMobil Corporation will post 12.40 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Monday, August 17th. ExxonMobil's dividend payout ratio (DPR) is currently 53.02%.

About ExxonMobil

Exxon Mobil Corporation, commonly known as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and sale of crude oil and natural gas. The company also manufactures and markets fuels, lubricants, petrochemicals and specialty products used in transportation, industrial and consumer applications.

ExxonMobil operates across the energy value chain through businesses that include upstream oil and natural gas production, refining and fuels marketing, chemical manufacturing, and lower-carbon solutions.

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