SOL Capital Management CO Reduces Stake in ExxonMobil Corporation $XOM

SOL Capital Management CO reduced its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 72.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,456 shares of the oil and gas company’s stock after selling 6,551 shares during the quarter. SOL Capital Management CO’s holdings in ExxonMobil were worth $417,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bank of America Corp DE increased its position in shares of 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 bought a new stake in ExxonMobil in the fourth quarter worth $7,625,063,000. Bank of New York Mellon Corp boosted its stake in ExxonMobil by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after buying an additional 531,362 shares during the period. Northern Trust Corp boosted its stake in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after buying an additional 445,283 shares during the period. Finally, Franklin Resources Inc. increased its position in ExxonMobil by 7.4% during the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after acquiring an additional 2,660,910 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

ExxonMobil Trading Up 3.2%

XOM stock traded up $4.33 during trading on Tuesday, hitting $140.78. The company had a trading volume of 1,441,138 shares, compared to its average volume of 20,213,465. The firm has a market capitalization of $583.51 billion, a P/E ratio of 23.70, a PEG ratio of 0.58 and a beta of 0.17. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The company has a 50 day simple moving average of $147.37 and a 200-day simple moving average of $144.79. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) 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%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.76 EPS. As a group, research analysts forecast that ExxonMobil Corporation will post 11.9 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. ExxonMobil’s payout ratio is presently 69.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wolfe Research downgraded shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. Weiss Ratings downgraded shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the stock a “neutral” rating in a research report on Friday, April 17th. Morgan Stanley decreased their price objective on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. boosted their target price on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.70.

ExxonMobil Profile

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.