Prospector Partners LLC Trims Stake in ExxonMobil Corporation $XOM

Key Points

• Prospector Partners LLC cut its ExxonMobil stake by 62.4% in the fourth quarter, selling 77,240 shares and leaving it with 46,459 shares worth about $5.59 million. ExxonMobil remains the fund’s largest holding, accounting for 12.0% of its portfolio.
• Despite mixed sentiment from Wall Street, ExxonMobil currently has a consensus Hold rating with a price target of $165.55. Recent analyst actions included buy ratings from TD Cowen and UBS, while other firms maintained neutral or hold views.
• ExxonMobil posted solid recent fundamentals, beating quarterly EPS estimates with $1.16 per share on revenue of $83.16 billion, and it also paid a quarterly dividend of $1.03 per share. The article also highlights continued growth plans in Guyana, along with some stock weakness tied to lower oil prices.

Prospector Partners LLC cut its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 62.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,459 shares of the oil and gas company's stock after selling 77,240 shares during the quarter. ExxonMobil comprises 12.0% of Prospector Partners LLC's portfolio, making the stock its largest position. Prospector Partners LLC's holdings in ExxonMobil were worth $5,591,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Berbice Capital Management LLC acquired a new stake in ExxonMobil in the fourth quarter worth $26,000. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil in the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in ExxonMobil by 456.1% in the fourth 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 during the period. Key Capital Management INC acquired a new stake in ExxonMobil in the fourth quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in ExxonMobil in the fourth quarter worth $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XOM has been the topic of several analyst reports. TD Cowen reiterated a "buy" rating on shares of ExxonMobil in a report on Monday. Wells Fargo & Company increased their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a "neutral" rating in a report on Friday, April 17th. HSBC increased their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a report on Friday, March 20th. Finally, UBS Group raised their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Ten research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $165.55.

Key Stories 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

ExxonMobil Trading Down 4.2%

Shares of NYSE:XOM opened at $140.86 on Tuesday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The company's fifty day simple moving average is $151.69 and its 200 day simple moving average is $142.73. The firm has a market cap of $583.84 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 0.62 and a beta of 0.16.

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

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio (DPR) is presently 69.48%.

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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