Smith Group Asset Management LLC Has $32.06 Million Holdings in ExxonMobil Corporation $XOM

Key Points

• Smith Group Asset Management increased its ExxonMobil position by 6.8% in the first quarter, ending with 188,977 shares valued at approximately $32.06 million. Institutional investors collectively own 61.8% of XOM.
• ExxonMobil is set to report earnings on July 31, with investors watching for stronger upstream performance and cash generation. The company also maintains a 43-year record of dividend increases and is pursuing a $20 billion annual share-repurchase program.
• XOM recently traded at $153.20, while analysts maintain a “Moderate Buy” consensus and an average price target of $163.45. However, Bank of America downgraded the stock to Neutral, citing limited upside and geopolitical uncertainty.

Smith Group Asset Management LLC grew its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,977 shares of the oil and gas company's stock after purchasing an additional 11,951 shares during the quarter. Smith Group Asset Management LLC's holdings in ExxonMobil were worth $32,062,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in ExxonMobil during the fourth quarter worth $7,625,063,000. Quantum Portfolio Management LLC bought a new stake in ExxonMobil during the first quarter valued at $965,932,000. Arrowstreet Capital Limited Partnership acquired a new stake in ExxonMobil during the 1st quarter worth about $766,345,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ExxonMobil by 18.2% during the 4th 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 worth $1,925,119,000 after acquiring an additional 2,465,410 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of ExxonMobil by 334.4% in the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock valued at $368,541,000 after purchasing an additional 2,357,467 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s July 31 earnings report could provide a catalyst, with expectations for higher quarterly profit and revenue. Analysts are focused on strong upstream performance and the possibility that elevated oil prices boosted cash generation. Exxon Mobil’s Next Earnings Report Could Send the Stock Soaring
• Positive Sentiment: The company’s long-term shareholder-return profile remains supportive: ExxonMobil has increased its dividend for 43 consecutive years and is pursuing a $20 billion annual share-repurchase program. The Single Biggest Reason to Buy Exxon Mobil Before July 31st
• Neutral Sentiment: Analysts remain moderately optimistic after ExxonMobil outperformed the broader market over the past year, but the stock’s premium valuation could limit new buying ahead of earnings. Are Wall Street Analysts Predicting ExxonMobil Stock Will Climb or Sink?
• Negative Sentiment: Bank of America downgraded XOM from Buy to Neutral, citing limited upside amid geopolitical uncertainty. Although its price target increased to $158, the target implies only modest appreciation from current levels, reducing near-term enthusiasm. Exxon Mobil Offers Limited Upside Potential, BofA Says in Downgrade
• Negative Sentiment: Broad energy-sector weakness is also weighing on ExxonMobil, while easing Middle East tensions have pressured oil prices and reduced expectations for an immediate windfall for producers. Sector Update: Energy Stocks Decline Late Afternoon

ExxonMobil Price Performance

XOM stock opened at $153.20 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company's 50-day moving average is $145.60 and its 200-day moving average is $148.08. The stock has a market capitalization of $635.01 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 0.63 and a beta of 0.17. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 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 analyst estimates of $81.13 billion. During the same period in the previous year, the company posted $1.76 EPS. The firm's revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that ExxonMobil Corporation will post 11.55 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued 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 2.7%. ExxonMobil's payout ratio is currently 69.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on XOM shares. Sanford C. Bernstein cut their target price on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research report on Monday, May 11th. Morgan Stanley lowered their target price on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their price target on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Scotiabank increased their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Finally, Bank of America lowered shares of ExxonMobil from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $154.00 to $158.00 in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $163.45.

About ExxonMobil

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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