QRG Capital Management Inc. Buys 82,314 Shares of ExxonMobil Corporation $XOM

Key Points

• QRG Capital Management increased its ExxonMobil stake by 13.7% in the first quarter, buying 82,314 additional shares and bringing its total holding to 683,407 shares valued at about $115.9 million.
• Several other institutional investors also added to or initiated positions in XOM, and hedge funds and other institutions now own 61.8% of the company’s stock.
• ExxonMobil has recent tailwinds from higher oil prices, with the company signaling that stronger upstream earnings could boost second-quarter profit, while analysts currently rate the stock a Moderate Buy with an average price target of $164.70.

QRG Capital Management Inc. increased its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 13.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 683,407 shares of the oil and gas company's stock after buying an additional 82,314 shares during the period. ExxonMobil accounts for about 1.2% of QRG Capital Management Inc.'s holdings, making the stock its 12th largest holding. QRG Capital Management Inc.'s holdings in ExxonMobil were worth $115,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Eagle Capital Management LLC increased its holdings in shares of ExxonMobil by 15.3% during the first 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 in the last quarter. Caxton Associates LLP bought a new position in ExxonMobil in the 1st quarter worth about $305,000. Sivia Capital Partners LLC grew its position in ExxonMobil by 1.9% during the 2nd 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 grew its position in ExxonMobil by 2.8% during the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company's stock valued at $2,352,000 after purchasing an additional 600 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its stake in ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after purchasing an additional 5,443 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices could lift second-quarter upstream earnings by $3.5 billion to $3.9 billion, reinforcing expectations for a strong Q2 profit beat. Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Crude prices jumped after U.S. strikes on Iranian targets and the collapse of the cease-fire backdrop, which tends to boost integrated oil producers like ExxonMobil through stronger upstream margins. Oil Prices Jump After U.S. Strikes Kharg Island, Trump Says Cease-Fire Is ‘Over’
• Positive Sentiment: ExxonMobil and partners will invest $1 billion in Nigeria’s Usan offshore project, expected to add 40,000 barrels per day of production, supporting longer-term output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

Analyst Upgrades and Downgrades

XOM has been the subject of several recent analyst reports. Sanford C. Bernstein decreased their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Citigroup restated a "neutral" rating on shares of ExxonMobil in a report on Wednesday. Wolfe Research cut ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. Finally, UBS Group increased their target price on ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, ExxonMobil presently has an average rating of "Moderate Buy" and an average price target of $164.70.

ExxonMobil Price Performance

XOM opened at $140.91 on Thursday. The company's 50-day simple moving average is $146.80 and its two-hundred day simple moving average is $145.28. 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 capitalization of $584.07 billion, a P/E ratio of 23.76, a P/E/G ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced 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 net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the business posted $1.76 earnings per share. The business's revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts predict that ExxonMobil Corporation will post 11.64 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. 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 payout ratio is 69.48%.

ExxonMobil 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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