VIRGINIA RETIREMENT SYSTEMS ET Al Buys 54,500 Shares of ExxonMobil Corporation $XOM

Key Points

• Virginia Retirement Systems increased its ExxonMobil stake by 10.8% in the fourth quarter, buying 54,500 additional shares and bringing its total holding to 559,672 shares worth about $67.4 million.
• ExxonMobil recently beat quarterly earnings and revenue estimates, reporting EPS of $1.16 versus $0.98 expected and revenue of $83.16 billion, while its board also declared a quarterly dividend of $1.03 per share.
• Analysts remain mixed but generally positive, with a Moderate Buy consensus and an average price target of $163.95; meanwhile, shareholders will vote on a proposed move of ExxonMobil’s registration to Texas after ISS recommended against it.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 559,672 shares of the oil and gas company's stock after purchasing an additional 54,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in ExxonMobil were worth $67,351,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of XOM. Midwest Capital Advisors LLC bought a new stake in ExxonMobil during the 4th quarter valued at $27,000. Key Capital Management INC bought a new stake in ExxonMobil during the 4th quarter valued at $28,000. Nvest Wealth Strategies Inc. bought a new stake in ExxonMobil during the 4th quarter valued at $32,000. DecisionPoint Financial LLC raised its holdings in ExxonMobil by 968.0% during the 4th quarter. DecisionPoint Financial LLC now owns 267 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 242 shares during the period. Finally, Westfuller Advisors LLC bought a new stake in ExxonMobil during the 3rd quarter valued at $30,000. Institutional investors own 61.80% of the company's stock.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil is being highlighted as a blue-chip dividend stock, with UBS recently raising its price target and investors continuing to favor large integrated oil companies for income and stability.
• Positive Sentiment: Rising crude prices and fuel-market disruption tied to Middle East tensions could support ExxonMobil’s upstream earnings, while its large Beaumont refinery may benefit from cheaper domestic crude and wider refining margins.
• Positive Sentiment: Recent commentary also points to ExxonMobil’s strong one-year rally and its scale in the Dow and global energy markets as evidence of durable investor appeal.
• Neutral Sentiment: Some investors are questioning whether ExxonMobil is still a value buy after its strong run, noting that the stock has pulled back modestly from recent highs and may already reflect much of the good news.
• Neutral Sentiment: The company’s upcoming ex-dividend date may draw income investors, but it is more of a routine calendar event than a major fundamental catalyst.
• Negative Sentiment: Proxy adviser ISS recommended shareholders vote against ExxonMobil’s plan to move its registration to Texas, citing concerns that the change could make it harder for shareholders to hold directors and officers accountable.

ExxonMobil Stock Up 0.6%

Shares of NYSE:XOM opened at $150.59 on Wednesday. ExxonMobil Corporation has a 52-week low of $101.18 and a 52-week high of $176.41. The firm has a fifty day moving average of $154.92 and a 200 day moving average of $136.80. The firm has a market capitalization of $624.17 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.66 and a beta of 0.19. 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 announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (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 company 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 business earned $1.76 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that ExxonMobil Corporation will post 11.45 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, May 15th. ExxonMobil's dividend payout ratio is presently 69.48%.

Insider Transactions at ExxonMobil

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the company's stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. This represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.03% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HSBC upped their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a report on Friday, March 20th. Zacks Research raised shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Piper Sandler decreased their price target on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $155.00 price target on shares of ExxonMobil in a report on Wednesday, February 4th. Finally, Jefferies Financial Group upped their price target on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.95.

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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