Weiss Asset Management LP Sells 31,120 Shares of ExxonMobil Corporation $XOM

Key Points

• Weiss Asset Management cut its ExxonMobil stake by 88.8%, selling 31,120 shares and retaining 3,920 shares valued at approximately $665,000. Institutional investors and hedge funds collectively own 61.8% of XOM.
• ExxonMobil reported quarterly EPS of $1.16, exceeding estimates by $0.18, while revenue of $83.16 billion also surpassed expectations and rose 2.4% year over year. The company maintains a quarterly dividend of $1.03, equivalent to a 2.7% annual yield.
• Analysts maintain a generally positive outlook, with ExxonMobil receiving a consensus “Moderate Buy” rating and an average price target of $163.25, compared with a recent opening price of $154.50.

Weiss Asset Management LP reduced its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 88.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,920 shares of the oil and gas company's stock after selling 31,120 shares during the quarter. Weiss Asset Management LP's holdings in ExxonMobil were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in XOM. Berbice Capital Management LLC acquired a new stake in shares of ExxonMobil in the 4th quarter valued at approximately $26,000. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil during the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 187 shares in the last quarter. Key Capital Management INC bought a new stake in shares of ExxonMobil in the fourth quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil during the fourth quarter worth about $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

ExxonMobil Stock Performance

Shares of XOM opened at $154.50 on Tuesday. The stock has a market capitalization of $640.42 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 0.64 and a beta of 0.17. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The firm has a fifty day simple moving average of $145.80 and a 200 day simple moving average of $147.84. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last issued 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. The firm had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.76 EPS. Research analysts forecast that ExxonMobil Corporation will post 11.55 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Piper Sandler began coverage on shares of ExxonMobil in a report on Thursday. They set a "neutral" rating and a $158.00 target price on the stock. Jefferies Financial Group raised their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. TD Cowen reduced their target price on shares of ExxonMobil from $172.00 to $155.00 and set a "buy" rating for the company in a research note on Thursday, July 2nd. DZ Bank upgraded ExxonMobil to a "strong-buy" rating in a report on Monday, July 6th. Finally, Weiss Ratings downgraded ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, ExxonMobil presently has an average rating of "Moderate Buy" and a consensus target price of $163.25.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s valuation may offer support. One analysis argues that the stock remains discounted based on discounted-cash-flow estimates and market multiples, despite its strong five-year performance and elevated oil prices. ExxonMobil Stock Could Be Cheap on Value Despite a 228% Run
• Positive Sentiment: The company is reportedly shifting new oil investment toward Nigeria and other African markets, potentially expanding its upstream growth opportunities and geographic diversification. Execution, political and operational risks remain considerations. ExxonMobil Is Moving New Oil Spending to Nigeria and Africa
• Neutral Sentiment: ExxonMobil is attracting unusually high investor search interest, which may increase near-term attention but does not itself change the company’s earnings outlook. Investors Heavily Search ExxonMobil
• Neutral Sentiment: ExxonMobil is among the major companies reporting during a particularly busy earnings week. Investors will look for updates on production, refining margins, capital spending and management’s outlook. Earnings Week Ahead
• Neutral Sentiment: Broader equities were mixed as markets awaited the Federal Reserve’s decision and additional earnings reports, leaving macroeconomic uncertainty as an important short-term influence on XOM. Equities Mixed Intraday as Markets Await Fed Decision
• Negative Sentiment: Oil prices fell as easing Middle East tensions reduced the geopolitical risk premium. Lower crude prices can pressure ExxonMobil’s upstream revenue, cash flow and profit expectations, helping explain why the stock weakened even as the broader market gained. Exxon Mobil Shares Fall as Oil Prices Tumble

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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