Van ECK Associates Corp Has $25.09 Million Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Van ECK Associates cut its ExxonMobil stake by 95.4% in the second quarter, selling 3,793,895 shares and retaining 183,518 shares valued at approximately $25.09 million. Institutional investors collectively own 61.8% of XOM.
• Analyst sentiment is mixed, with 10 Buy ratings and 12 Hold ratings and a consensus price target of $166.10. ExxonMobil recently reported quarterly EPS of $3.52, slightly below estimates, but revenue of $114.53 billion exceeded expectations.
• ExxonMobil declared a quarterly dividend of $1.03, equivalent to $4.12 annually and a 2.6% yield. Shares opened at $156.88, while the company’s low debt load and potential benefits from higher oil prices support its financial flexibility.

Van ECK Associates Corp lessened its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 95.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,518 shares of the oil and gas company's stock after selling 3,793,895 shares during the quarter. Van ECK Associates Corp's holdings in ExxonMobil were worth $25,091,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XOM. Impact Partnership Wealth LLC lifted its stake in ExxonMobil by 0.6% in the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company's stock valued at $2,039,000 after buying an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance lifted its holdings in shares of ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company's stock valued at $631,000 after purchasing an additional 68 shares in the last quarter. Core Wealth Advisors Inc. grew its holdings in shares of ExxonMobil by 1.0% during the first quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company's stock worth $1,155,000 after buying an additional 68 shares in the last quarter. ICW Investment Advisors LLC raised its position 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 buying an additional 69 shares during the last quarter. Finally, Swisher Financial Concepts Inc. grew its stake in shares of ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company's stock worth $4,649,000 after acquiring an additional 69 shares in the last quarter. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XOM. Bank of America downgraded ExxonMobil from a "buy" rating to a "neutral" rating and lifted their target price for the company from $154.00 to $158.00 in a research report on Tuesday, July 28th. Mizuho dropped their target price on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. TD Cowen raised their price objective on ExxonMobil from $155.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Zacks Research lowered shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $166.10.

ExxonMobil Stock Performance

XOM opened at $156.88 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The business has a fifty day simple moving average of $150.53 and a 200 day simple moving average of $151.88. ExxonMobil Corporation has a 1 year low of $108.35 and a 1 year high of $176.41. The company has a market capitalization of $650.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter last year, the company posted $1.64 earnings per share. Research analysts expect that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Monday, August 17th. ExxonMobil's payout ratio is 53.02%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I'm Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil's Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

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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