Raleigh Capital Management Inc. Lowers Stock Position in ExxonMobil Corporation $XOM

Key Points

• Raleigh Capital Management reduced its ExxonMobil stake by 43.9% in the first quarter, selling 11,202 shares and leaving it with 14,324 shares worth about $2.43 million.
• Several other institutional investors made large moves in ExxonMobil, and 61.8% of the stock is now owned by institutions, highlighting continued heavy professional ownership.
• Analysts remain mixed but broadly constructive: ExxonMobil has a Moderate Buy consensus rating with an average price target of $164.45, while recent headlines point to stronger Q2 earnings prospects and a new $1 billion investment in Nigeria.

Raleigh Capital Management Inc. cut its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 43.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,324 shares of the oil and gas company's stock after selling 11,202 shares during the quarter. Raleigh Capital Management Inc.'s holdings in ExxonMobil were worth $2,430,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $7,625,063,000. Mercer Global Advisors Inc. ADV increased its position in shares of ExxonMobil by 218.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock valued at $155,696,000 after acquiring an additional 2,546,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ExxonMobil by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock worth $1,925,119,000 after acquiring an additional 2,465,410 shares during the period. Van ECK Associates Corp boosted its position in ExxonMobil by 334.4% in the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after purchasing an additional 2,357,467 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its position in ExxonMobil by 17,312.4% in the first quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock worth $370,514,000 after purchasing an additional 2,171,322 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. HSBC boosted their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a report on Friday, March 20th. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the stock a "neutral" rating in a report on Friday, April 17th. Mizuho lowered their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, TD Cowen dropped their target price on shares of ExxonMobil from $172.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.45.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM's Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

ExxonMobil Price Performance

NYSE XOM opened at $137.31 on Friday. 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 has a market cap of $569.12 billion, a PE ratio of 23.15, a price-to-earnings-growth 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. The firm's 50-day simple moving average is $146.53 and its two-hundred day simple moving average is $145.43.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its earnings results 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. 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 the consensus estimate of $81.13 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company's revenue was up 2.4% on a year-over-year basis. Research analysts predict that ExxonMobil Corporation will post 11.64 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Friday, May 15th. ExxonMobil's payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.