Sit Investment Associates Inc. Sells 12,435 Shares of ExxonMobil Corporation $XOM

Key Points

• Sit Investment Associates Inc. cut its ExxonMobil stake by 19.7% in the fourth quarter, selling 12,435 shares and leaving it with 50,680 shares valued at about $6.1 million.
• ExxonMobil reported stronger-than-expected quarterly earnings of $1.16 per share on revenue of $83.16 billion, beating analyst estimates and posting 2.4% year-over-year revenue growth.
• The company recently paid a quarterly dividend of $1.03 per share, equal to an annualized yield of about 3.0%, while analysts currently rate the stock a consensus Moderate Buy with a target price of $165.70.

Sit Investment Associates Inc. lowered its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,680 shares of the oil and gas company's stock after selling 12,435 shares during the period. Sit Investment Associates Inc.'s holdings in ExxonMobil were worth $6,099,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of XOM. Capital Investment Advisors LLC increased its position in shares of ExxonMobil by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock valued at $27,857,000 after acquiring an additional 14,233 shares during the period. New Age Alpha Advisors LLC boosted its holdings in shares of ExxonMobil by 5.6% during the third quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock worth $18,778,000 after purchasing an additional 8,853 shares during the period. Roberts Capital Advisors LLC bought a new stake in shares of ExxonMobil in the third quarter worth about $1,240,000. Midland Wealth Advisors LLC increased its holdings in ExxonMobil by 95.0% during the 3rd quarter. Midland Wealth Advisors LLC now owns 44,675 shares of the oil and gas company's stock valued at $5,037,000 after purchasing an additional 21,766 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in ExxonMobil by 9.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 410,046 shares of the oil and gas company's stock valued at $46,233,000 after purchasing an additional 33,950 shares during the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Price Performance

Shares of XOM opened at $137.84 on Friday. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The firm's 50-day simple moving average is $149.98 and its two-hundred day simple moving average is $143.22. The stock has a market cap of $571.36 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 0.58 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $81.13 billion. During the same period last year, the business earned $1.76 earnings per share. The business's revenue was up 2.4% on a year-over-year basis. Analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. ExxonMobil's payout ratio is presently 69.48%.

ExxonMobil News Roundup

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on XOM shares. Sanford C. Bernstein dropped their price objective on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Mizuho raised their price target on ExxonMobil from $159.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Weiss Ratings cut shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. TD Cowen restated a "buy" rating on shares of ExxonMobil in a report on Monday. Finally, HSBC raised their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a research report on Friday, March 20th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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