Stonekeep Investments LLC Acquires Shares of 3,837 ExxonMobil Corporation $XOM

Stonekeep Investments LLC bought a new position in shares of ExxonMobil Corporation (NYSE:XOM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,837 shares of the oil and gas company’s stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of America Corp DE boosted its stake in ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares during the last quarter. Norges Bank purchased a new stake in shares of ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp lifted its holdings in shares of ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after purchasing an additional 531,362 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Performance

XOM stock opened at $159.78 on Wednesday. The firm has a market cap of $662.29 billion, a PE ratio of 20.56, a P/E/G ratio of 0.60 and a beta of 0.17. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $146.53 and a 200-day moving average of $150.03. ExxonMobil Corporation has a 12-month low of $105.67 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share 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 analysts’ expectations of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same period in the prior year, the firm posted $1.64 EPS. As a group, sell-side analysts expect that ExxonMobil Corporation will post 12.34 earnings per share 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 given a dividend of $1.03 per share. The ex-dividend date is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil’s dividend payout ratio is presently 53.02%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on XOM. Bank of America downgraded ExxonMobil from a “buy” rating to a “neutral” rating and upped their price target for the stock from $154.00 to $158.00 in a report on Tuesday, July 28th. Weiss Ratings upgraded ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Barclays lifted their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Scotiabank increased their target price on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $163.29.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s record Permian production gives it significant leverage to higher crude prices as uncertainty surrounding the Strait of Hormuz and Middle East supply disruptions supports oil. Brent crude was recently reported near $89 per barrel after rebounding from early-July lows. Exxon Stock Jumps 3.3% as Oil Supply Fears Return
• Positive Sentiment: Second-quarter results showed sharply improved profitability, with net income of approximately $14.5 billion, operating cash flow of $23.6 billion and free cash flow of $17.2 billion. Production also reached records in the Permian and diesel operations, reinforcing the company’s operating momentum. ExxonMobil gains as strong quarterly results and higher oil prices bolster sentiment
• Positive Sentiment: ExxonMobil returned $9.4 billion to shareholders during the quarter through $4.3 billion of dividends and $5.1 billion of share repurchases. The company also declared a quarterly dividend of $1.03, supporting its appeal to income-focused investors. Exxon Handed Shareholders $9.4 Billion in One Quarter
• Neutral Sentiment: Analysts maintain a consensus “Hold” rating, while recently reported price targets range from $154 to $182, indicating upside potential for some investors but limited conviction across Wall Street. ExxonMobil Receives Consensus Rating of Hold
• Negative Sentiment: Adjusted earnings of $3.52 per share fell slightly short of analyst expectations, despite rising substantially from the prior year. The miss could restrain near-term gains if oil prices weaken or refining margins deteriorate. Exxon’s Profit Missed. So Why Is the Dividend Getting Stronger?
• Negative Sentiment: President Trump criticized ExxonMobil and Chevron for making “too much money” amid high fuel prices, creating a political risk that could lead to calls for increased regulation, taxes or other measures affecting oil producers. ExxonMobil vs. Chevron: Trump Attacks the Oil Giants

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.