Readystate Asset Management LP Purchases New Holdings in ExxonMobil Corporation $XOM

Key Points

• Readystate Asset Management LP purchased 217,778 ExxonMobil shares worth approximately $29.8 million, making XOM about 1% of its portfolio. Institutional investors collectively own 61.8% of the company.
• ExxonMobil reported quarterly revenue above expectations at $114.53 billion, but earnings per share of $3.52 missed consensus. The company declared a quarterly dividend of $1.03, representing a 2.6% annualized yield.
• Analysts maintain a mixed outlook, with a consensus “Hold” rating and $167.45 price target. Higher oil prices, refining tightness and production growth support the shares, while falling crude prices and political tensions remain key risks.

Readystate Asset Management LP purchased a new position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 217,778 shares of the oil and gas company's stock, valued at approximately $29,775,000. ExxonMobil comprises about 1.0% of Readystate Asset Management LP's investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of ExxonMobil by 2.0% in the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company's stock valued at $9,043,836,000 after acquiring an additional 1,457,560 shares during the period. Norges Bank bought a new stake in shares of ExxonMobil in the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp lifted its stake in ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company's stock valued at $5,608,488,000 after purchasing an additional 531,362 shares during the last quarter. Northern Trust Corp grew its holdings in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock worth $4,102,708,000 after purchasing an additional 293,446 shares during the period. Institutional investors own 61.80% of the company's stock.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices and tighter refining capacity could support near-term earnings. Growth from Guyana and the Permian Basin strengthens ExxonMobil’s production outlook. Can ExxonMobil Benefit From the Current Energy Market Tightness?
• Positive Sentiment: ExxonMobil’s dividend remains a key attraction. The company appears positioned for a 44th consecutive annual payout increase, while second-quarter free cash flow exceeded dividend payments by nearly $13 billion. Management has also indicated that free cash flow could potentially double by 2030. 2 Energy Dividend Stocks With Growing Payouts, Led by ExxonMobil
• Positive Sentiment: Recent investment commentary continues to identify XOM as an attractive value and high-yield income stock, which may support demand from long-term and dividend-focused investors. 2 High-Yield Dividend Stocks Worth Buying Right Now
• Neutral Sentiment: The bullish outlook depends heavily on sustained oil prices and refining tightness. ExxonMobil’s latest reported quarter included earnings per share below consensus, although revenue exceeded expectations.
• Negative Sentiment: ExxonMobil was reportedly excluded from a White House meeting with major oil executives focused on gasoline prices, refinery capacity and retail fuel costs. The exclusion was linked to prior political friction over potential investments in Venezuela, creating concerns about regulatory access and political relations. ExxonMobil Was Excluded From a White House Oil Meeting
• Negative Sentiment: A sharp decline in crude prices remains the primary risk to ExxonMobil’s cash flow, earnings and dividend coverage despite its current financial strength. Exxon’s Dividend Looks Safe Today—but What If Oil Prices Tumble?

Analyst Ratings Changes

Several research firms have issued reports on XOM. Piper Sandler upped their price objective on ExxonMobil from $158.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday. TD Cowen boosted their target price on ExxonMobil from $155.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Citigroup restated a "neutral" rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Weiss Ratings raised shares of ExxonMobil from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $182.00 price objective on shares of ExxonMobil in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. Based on data from MarketBeat, ExxonMobil has a consensus rating of "Hold" and a consensus price target of $167.45.

ExxonMobil Price Performance

ExxonMobil stock opened at $159.53 on Monday. The company has a market capitalization of $661.24 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 0.97 and a beta of 0.18. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 12 month low of $108.35 and a 12 month high of $176.41. The stock's 50 day moving average is $152.97 and its 200-day moving average is $152.28.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same period in the previous year, the business posted $1.64 earnings per share. Equities research analysts expect that ExxonMobil Corporation will post 11.98 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. ExxonMobil's dividend payout ratio is 53.02%.

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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