Quantitative Investment Management LLC Makes New Investment in ExxonMobil Corporation $XOM

Key Points

• Quantitative Investment Management purchased 123,394 ExxonMobil shares worth approximately $16.87 million, making XOM its sixth-largest holding and representing 1.8% of its portfolio. Institutional investors collectively own 61.8% of the company.
• Analyst sentiment is mixed, with 10 Buy and 12 Hold ratings producing a consensus “Hold” rating and a $166.10 price target. Morgan Stanley raised its target to $177, while Bernstein cut its target to $182.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding expectations, but earnings per share of $3.52 fell slightly short of forecasts. The company declared a quarterly dividend of $1.03 per share, equivalent to a 2.6% annualized yield.

Quantitative Investment Management LLC purchased a new position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 123,394 shares of the oil and gas company's stock, valued at approximately $16,870,000. ExxonMobil accounts for approximately 1.8% of Quantitative Investment Management LLC's investment portfolio, making the stock its 6th biggest position.

A number of other large investors have also made changes to their positions in the stock. Assetmark Inc. lifted its position in shares of ExxonMobil by 8.3% in the first quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company's stock valued at $83,525,000 after acquiring an additional 37,666 shares in the last quarter. Charles Schwab Trust Co increased its position in ExxonMobil by 392.9% during the 2nd quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company's stock worth $16,710,000 after purchasing an additional 97,424 shares in the last quarter. CV Advisors LLC increased its position in ExxonMobil by 126.7% during the 2nd quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company's stock worth $1,584,000 after purchasing an additional 6,478 shares in the last quarter. Midwest Trust Co raised its stake in ExxonMobil by 3.9% in the 1st quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company's stock valued at $120,623,000 after purchasing an additional 26,411 shares during the last quarter. Finally, King Luther Capital Management Corp raised its stake in ExxonMobil by 2.4% in the 4th quarter. King Luther Capital Management Corp now owns 1,664,995 shares of the oil and gas company's stock valued at $200,366,000 after purchasing an additional 38,492 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of ExxonMobil from $168.00 to $177.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. Wells Fargo & Company reissued an "overweight" rating and set a $182.00 price objective on shares of ExxonMobil in a research note on Monday, August 3rd. UBS Group set a $168.00 target price on shares of ExxonMobil in a research report on Friday, August 7th. Finally, Sanford C. Bernstein lowered their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $166.10.

ExxonMobil Stock Up 0.1%

XOM opened at $156.88 on Monday. ExxonMobil Corporation has a 12 month low of $108.35 and a 12 month high of $176.41. The business has a 50-day moving average of $150.53 and a two-hundred day moving average of $151.88. 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 stock has a market capitalization of $650.26 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. On average, research analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is currently 53.02%.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I'm Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil's Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

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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