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

Key Points

• Redwood Investment Management initiated a new ExxonMobil position in the second quarter, buying 14,261 shares valued at approximately $1.95 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding estimates, but earnings per share of $3.52 fell short of the $3.56 consensus forecast. Shares recently traded at $158.18, down 1.5%.
• The company declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 2.6% yield. Analysts maintain a consensus “Hold” rating with a target price of $166.10.

Redwood Investment Management LLC purchased a new stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,261 shares of the oil and gas company's stock, valued at approximately $1,950,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of XOM. Assetmark Inc. raised its position in shares of ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company's stock worth $83,525,000 after purchasing an additional 37,666 shares during the last quarter. Charles Schwab Trust Co increased its stake 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 buying an additional 97,424 shares in the last quarter. CV Advisors LLC raised its holdings in shares of ExxonMobil by 126.7% during the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company's stock valued at $1,584,000 after acquiring an additional 6,478 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of ExxonMobil by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company's stock valued at $126,166,000 after acquiring an additional 23,668 shares during the last quarter. Finally, Midwest Trust Co lifted its position in shares of ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company's stock valued at $120,623,000 after acquiring an additional 26,411 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Down 1.5%

Shares of NYSE:XOM opened at $158.18 on Thursday. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The stock has a market cap of $655.65 billion, a P/E ratio of 20.36, a PEG ratio of 0.63 and a beta of 0.17. The business has a fifty day moving average of $149.77 and a two-hundred day moving average of $151.79. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12.

ExxonMobil (NYSE:XOM - Get Free Report) last announced 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 net margin of 8.88% and a return on equity of 13.14%. 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 firm posted $1.64 EPS. On average, research analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be given a $1.03 dividend. 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 payout ratio is presently 53.02%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on XOM. Zacks Research cut ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Sanford C. Bernstein lowered their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. DZ Bank lowered shares of ExxonMobil from a "buy" rating to a "hold" rating and set a $156.00 target price for the company. in a report on Tuesday, August 4th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $180.00 target price on shares of ExxonMobil in a research report on Tuesday, May 5th. Finally, 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. Ten analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $166.10.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Permian growth supports production outlook. ExxonMobil’s Permian Basin output reached a record, while planned expansion and greater drilling automation could provide an important source of upstream volume growth. Can ExxonMobil's Permian Growth Keep Driving Upstream Momentum?
• Positive Sentiment: Analysts and stock roundups remain constructive. Recent commentary describes XOM as better positioned than some peers and highlights potential upside from strong oil prices, its integrated business, and comparatively attractive valuation. Morgan Stanley also sees a possibility that the shares eventually surpass their record high. Morgan Stanley Sees ExxonMobil Breaking its Record High
• Positive Sentiment: Potential strategic opportunities. Reports that ExxonMobil may be interested in assets associated with Shell’s potential U.S. and chemicals divestitures could create acquisition or portfolio-optimization opportunities, although no transaction has been confirmed. Reports: Shell considers sales of US HQ and chemicals arm
• Neutral Sentiment: Dividend remains dependable but growth is moderating. ExxonMobil has raised its dividend for 43 consecutive years, with a current quarterly payout of $1.03 per share. However, recent increases of roughly 3% to 4.5% are substantially smaller than historical hikes, limiting income-growth appeal. ExxonMobil Dividend Growth Article
• Negative Sentiment: Lower oil prices are the immediate pressure. The market is treating new sanctions and Hormuz developments as negotiating leverage rather than an imminent supply threat. That weakens crude prices and raises concern that energy shares may give back part of their geopolitical gains. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again

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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