RiverFront Investment Group LLC Has $9.41 Million Position in ExxonMobil Corporation $XOM

Key Points

• RiverFront Investment Group increased its ExxonMobil stake by 22.4% in the fourth quarter, bringing its holdings to 78,215 shares valued at about $9.41 million.
• Wall Street sentiment on ExxonMobil remains constructive, with several analysts raising price targets and the stock carrying a consensus rating of “Moderate Buy” and an average target price of $163.95.
• ExxonMobil reported better-than-expected first-quarter earnings and continues to support shareholders with a quarterly dividend of $1.03 per share, equal to a 2.6% annualized yield.

RiverFront Investment Group LLC boosted its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,215 shares of the oil and gas company's stock after buying an additional 14,320 shares during the period. RiverFront Investment Group LLC's holdings in ExxonMobil were worth $9,412,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of XOM. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after buying an additional 187 shares in the last quarter. Key Capital Management INC acquired a new stake in ExxonMobil during the fourth quarter worth $28,000. Westfuller Advisors LLC acquired a new stake in shares of ExxonMobil in the 3rd quarter valued at $30,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. HSBC boosted their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the company a "hold" rating in a research note on Friday, March 20th. UBS Group boosted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Scotiabank boosted their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 22nd. Finally, BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the company a "neutral" rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $163.95.

Insider Activity

In related news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the completion of the transaction, the vice president directly owned 18,204 shares of the company's stock, valued at $2,872,955.28. The trade was a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.03% of the stock is owned by corporate insiders.

ExxonMobil Stock Performance

ExxonMobil stock opened at $157.72 on Monday. The stock has a 50-day simple moving average of $155.05 and a 200 day simple moving average of $137.61. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 12-month low of $101.18 and a 12-month high of $176.41. The stock has a market capitalization of $653.72 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 0.69 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same period in the previous year, the business posted $1.76 earnings per share. The firm's revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that ExxonMobil Corporation will post 11.5 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil's payout ratio is currently 69.48%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

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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