New Mexico Educational Retirement Board Has $28.42 Million Stock Holdings in ExxonMobil Corporation $XOM

New Mexico Educational Retirement Board raised its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 5.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 207,853 shares of the oil and gas company’s stock after purchasing an additional 10,200 shares during the quarter. ExxonMobil makes up approximately 0.7% of New Mexico Educational Retirement Board’s holdings, making the stock its 19th largest holding. New Mexico Educational Retirement Board’s holdings in ExxonMobil were worth $28,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in XOM. Bank of America Corp DE grew 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 worth $9,043,836,000 after buying an additional 1,457,560 shares during the period. Norges Bank acquired a new stake in shares of ExxonMobil in the 4th quarter valued at approximately $7,625,063,000. Bank of New York Mellon Corp boosted its stake in ExxonMobil by 1.2% during the 4th 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 acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp grew its holdings 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 valued at $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 293,446 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. HSBC set a $158.00 target price on shares of ExxonMobil in a report on Monday, August 3rd. Bank of America cut shares of ExxonMobil from a “buy” rating to a “neutral” rating and upped their price objective for the company from $154.00 to $158.00 in a research report on Tuesday, July 28th. Morgan Stanley raised their price objective on ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Piper Sandler initiated coverage on ExxonMobil in a report on Thursday, July 23rd. They set a “neutral” rating and a $158.00 target price on the stock. Finally, Freedom Capital raised ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Ten equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $166.10.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $156.88 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85. The firm has a market cap of $650.26 billion, a price-to-earnings ratio of 20.19, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17. The stock’s 50-day moving average is $150.53 and its 200-day moving average is $151.87. ExxonMobil Corporation has a one year low of $108.35 and a one year 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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The firm had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the previous year, the business posted $1.64 earnings per share. Equities analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is currently 53.02%.

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.