Rockefeller Capital Management L.P. Increases Stake in ExxonMobil Corporation $XOM

Key Points

• Rockefeller Capital Management increased its ExxonMobil stake by 2.3% in the fourth quarter, bringing its holdings to 1.92 million shares worth about $231.5 million.
• ExxonMobil reported better-than-expected quarterly earnings, with EPS of $1.16 versus estimates of $0.98 and revenue of $83.16 billion, though earnings were still down from a year earlier.
• The company also announced a quarterly dividend of $1.03 per share, equal to an annualized yield of about 3.0%, while analysts remain broadly constructive with a Moderate Buy consensus and a $165.70 price target.

Rockefeller Capital Management L.P. boosted its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,923,940 shares of the oil and gas company's stock after purchasing an additional 43,460 shares during the period. Rockefeller Capital Management L.P.'s holdings in ExxonMobil were worth $231,527,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in ExxonMobil during the 4th quarter worth approximately $7,625,063,000. Franklin Resources Inc. lifted its position in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock valued at $4,366,655,000 after purchasing an additional 2,660,910 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in ExxonMobil by 218.4% in 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 purchasing an additional 2,546,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 valued at $1,925,119,000 after purchasing an additional 2,465,410 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of 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. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Stock Performance

Shares of XOM stock opened at $137.84 on Monday. The firm has a market capitalization of $571.36 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 0.58 and a beta of 0.16. The stock has a fifty day moving average of $149.98 and a 200 day moving average of $143.41. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. 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 (NYSE:XOM - Get Free Report) last issued its quarterly earnings data 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 net margin of 7.57% and a return on equity of 10.24%. The business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the previous year, the firm earned $1.76 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, 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 was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. ExxonMobil's payout ratio is currently 69.48%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s production has reached its highest level in more than 40 years, supported by aggressive output growth in Guyana, Texas, and Papua New Guinea. Higher volumes at lower costs should support cash flow and investor confidence. Article: Darren Woods’ Game Plan at Exxon Mobil: Produce More Oil for Less Money
• Positive Sentiment: ExxonMobil is expanding its long-term growth pipeline in Guyana’s Stabroek Block, with plans to drill up to 35 new exploration and appraisal wells from 2028 through 2033. This could extend reserve growth and future production. Article: ExxonMobil Advances New Exploration Push in Guyana's Stabroek Block
• Neutral Sentiment: ExxonMobil reportedly struck a deal with ZET for South Africa’s first LNG terminal, highlighting continued international LNG expansion efforts. This is strategically constructive, but the near-term stock impact is unclear. Article: ExxonMobil and ZET strike deal for South Africa’s first LNG terminal
• Neutral Sentiment: Commentary suggesting ExxonMobil could pursue another megamerger or LNG acquisition may support long-term strategic speculation, but it is not a confirmed catalyst. Article: ExxonMobil Has Its Sights on Its Next Megamerger. Here's the Oil Stock It Should Buy.
• Negative Sentiment: ExxonMobil shares fell alongside other oil stocks after the U.S. and Iran reached an interim agreement that could reopen the Strait of Hormuz and lift sanctions on Tehran’s oil. The deal pressures crude prices, which can reduce upstream earnings for XOM. Article: ExxonMobil and Occidental Petroleum Stocks Trade Down, What You Need To Know
• Negative Sentiment: Recent market commentary notes ExxonMobil has been under sustained selling pressure over the past days and weeks, reflecting weaker oil prices and a softer sector backdrop. Article: Exxon Mobil (XOM) Stock Could Be 18.9% Undervalued Despite Recent Pullback

Wall Street Analysts Forecast Growth

Several brokerages recently commented on XOM. Sanford C. Bernstein decreased 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. Scotiabank raised their price target on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Citigroup boosted their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. TD Cowen reaffirmed a "buy" rating on shares of ExxonMobil in a research note on Monday, June 15th. Finally, UBS Group increased their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.70.

ExxonMobil Company 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.