State of Wisconsin Investment Board Decreases Stock Position in ExxonMobil Corporation $XOM

Key Points

• State of Wisconsin Investment Board reduced its ExxonMobil stake by 2.5% in the fourth quarter, selling 57,401 shares and leaving it with 2,208,564 shares worth about $265.8 million.
• Several recent headlines were positive for ExxonMobil, including a Bank of America upgrade to Buy with a $154 price target and new growth initiatives such as an LNG supply deal in South Africa and a proposed 35-well exploration campaign in Guyana.
• Despite the positive company news, Exxon faces some pressure from the market as oil prices have fallen below $80; meanwhile, analysts still rate the stock a Moderate Buy with an average price target of $165.70.

State of Wisconsin Investment Board trimmed its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,208,564 shares of the oil and gas company's stock after selling 57,401 shares during the period. ExxonMobil comprises about 0.6% of State of Wisconsin Investment Board's investment portfolio, making the stock its 17th largest position. State of Wisconsin Investment Board owned about 0.05% of ExxonMobil worth $265,779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ICW Investment Advisors LLC lifted its holdings in ExxonMobil by 0.3% in the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company's stock valued at $3,043,000 after purchasing an additional 69 shares in the last quarter. Fortis Capital Management LLC lifted its holdings in ExxonMobil by 2.0% in the 4th quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company's stock valued at $434,000 after purchasing an additional 70 shares in the last quarter. Peoples Bank OH lifted its holdings in ExxonMobil by 0.5% in the 4th quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company's stock valued at $1,804,000 after purchasing an additional 71 shares in the last quarter. Paulson Wealth Management Inc. lifted its holdings in ExxonMobil by 1.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company's stock valued at $887,000 after purchasing an additional 72 shares in the last quarter. Finally, Peirce Capital Management LLC lifted its holdings in ExxonMobil by 1.7% in the 4th quarter. Peirce Capital Management LLC now owns 4,292 shares of the oil and gas company's stock valued at $516,000 after purchasing an additional 72 shares in the last quarter. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, signaling confidence that the stock is undervalued after its recent pullback. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil signed a preliminary deal to supply LNG to South Africa’s first planned import terminal, expanding its gas business and adding another potential long-term growth outlet. Exxon Mobil signs deal to supply South Africa's first planned LNG terminal
• Positive Sentiment: Exxon is moving ahead with a proposed 35-well exploration campaign in Guyana’s Stabroek block, which could support future reserve growth and production expansion. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Neutral Sentiment: Brokerage coverage remains broadly favorable, with consensus sentiment around “Moderate Buy”, suggesting Wall Street still sees upside but not an aggressive near-term catalyst. ExxonMobil Corporation NYSE: XOM Given Consensus Rating of "Moderate Buy" by Brokerages
• Negative Sentiment: Oil prices have fallen back below $80, which could pressure ExxonMobil’s near-term earnings and free cash flow if the weaker crude environment persists. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Broader energy-sector weakness and lower crude prices are weighing on the group, which can cap upside for upstream names like Exxon even when company-specific news is positive. Sector Update: Energy Stocks Decline Pre-Bell Tuesday

Analyst Upgrades and Downgrades

XOM has been the topic of a number of recent research reports. Scotiabank upped their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Piper Sandler dropped their price objective on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Zacks Research downgraded shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the company a "neutral" rating in a research note on Friday, April 17th. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $165.70.

ExxonMobil Stock Up 0.5%

XOM opened at $141.64 on Wednesday. The firm has a 50 day moving average price of $151.31 and a 200 day moving average price of $142.92. The company has a market cap of $587.08 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 0.60 and a beta of 0.16. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. 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 posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.76 EPS. Sell-side analysts expect that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently announced 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. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is 69.48%.

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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