Evercore Wealth Management LLC Decreases Stock Holdings in ExxonMobil Corporation $XOM

Evercore Wealth Management LLC lowered its stake in ExxonMobil Corporation (NYSE:XOM) by 7.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,605 shares of the oil and gas company’s stock after selling 5,744 shares during the quarter. Evercore Wealth Management LLC’s holdings in ExxonMobil were worth $12,827,000 at the end of the most recent quarter.

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

ExxonMobil Stock Performance

NYSE XOM opened at $154.50 on Tuesday. The business’s 50 day moving average price is $145.80 and its 200-day moving average price is $147.84. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company has a market cap of $640.42 billion, a P/E ratio of 26.05, a P/E/G ratio of 0.64 and a beta of 0.17. 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) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $1.76 earnings per share. Sell-side analysts predict that ExxonMobil Corporation will post 11.55 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. ExxonMobil’s dividend payout ratio is currently 69.48%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on XOM. Sanford C. Bernstein dropped their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Wells Fargo & Company upped their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Mizuho lowered their target price on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Citigroup reissued a “neutral” rating on shares of ExxonMobil in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, ExxonMobil has an average rating of “Moderate Buy” and a consensus price target of $163.25.

Key Stories Impacting ExxonMobil

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.