Manning & Napier Advisors LLC Lowers Position in ExxonMobil Corporation $XOM

Manning & Napier Advisors LLC lessened its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 7.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 188,653 shares of the oil and gas company’s stock after selling 16,096 shares during the period. Manning & Napier Advisors LLC’s holdings in ExxonMobil were worth $32,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of ExxonMobil during the 4th quarter valued at about $7,625,063,000. Quantum Portfolio Management LLC purchased a new stake in ExxonMobil in the 1st quarter worth approximately $965,932,000. Mercer Global Advisors Inc. ADV raised its stake in ExxonMobil by 218.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after acquiring an additional 2,546,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock worth $1,925,119,000 after acquiring an additional 2,465,410 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in ExxonMobil by 334.4% during the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock valued at $368,541,000 after purchasing an additional 2,357,467 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of analyst reports. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a research note on Wednesday, July 8th. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Piper Sandler cut their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Finally, HSBC raised their price target on ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.45.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Price Performance

XOM stock opened at $145.04 on Wednesday. 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 company’s fifty day moving average price is $145.82 and its 200-day moving average price is $145.93. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41. The company has a market capitalization of $601.18 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 0.59 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during 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%. ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $1.76 earnings per share. On average, equities analysts anticipate that ExxonMobil Corporation will post 11.48 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil’s payout ratio is currently 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.