Titan Wealth CI Ltd Acquires Shares of 83,551 ExxonMobil Corporation $XOM

Key Points

• Titan Wealth CI Ltd initiated a new stake in ExxonMobil during the fourth quarter, buying 83,551 shares worth about $10.05 million. The position now represents 3.9% of the firm’s holdings and its 8th largest holding.
• Wall Street sentiment on ExxonMobil remains broadly positive, with analysts giving the stock a “Moderate Buy” consensus and an average price target of $165.70. Recent notes included price-target increases from UBS and Wells Fargo, though a few firms trimmed ratings.
• ExxonMobil continues to post supportive business updates, including a Q1 earnings beat and a recent $1.03 quarterly dividend that implies a 2.9% yield. The company also has new growth catalysts, such as LNG supply talks in South Africa and a planned 35-well exploration campaign in Guyana.

Titan Wealth CI Ltd bought a new position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 83,551 shares of the oil and gas company's stock, valued at approximately $10,054,000. ExxonMobil comprises 3.9% of Titan Wealth CI Ltd's holdings, making the stock its 8th largest holding.

Other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of ExxonMobil during the 4th quarter valued at approximately $7,625,063,000. Bank of New York Mellon Corp boosted its holdings in ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company's stock worth $5,608,488,000 after purchasing an additional 531,362 shares during the period. Northern Trust Corp increased its stake in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock valued at $4,963,934,000 after purchasing an additional 445,283 shares during the last quarter. Franklin Resources Inc. increased its stake in ExxonMobil by 7.4% during 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. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock worth $4,102,708,000 after purchasing an additional 293,446 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Scotiabank boosted their price objective on shares of ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. Zacks Research downgraded shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Wells Fargo & Company raised their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Finally, Wolfe Research cut shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a report on Tuesday, April 21st. Eleven 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $165.70.

Key ExxonMobil News

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

ExxonMobil Stock Performance

XOM stock opened at $141.64 on Wednesday. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The stock has a market capitalization of $587.08 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 0.60 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. The stock's fifty day moving average is $151.31 and its two-hundred day moving average is $142.92.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping 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 business had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the prior year, the firm earned $1.76 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts predict that ExxonMobil Corporation will post 11.8 EPS for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.9%. ExxonMobil's dividend payout ratio is 69.48%.

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.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

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.