Headlands Technologies LLC Acquires 18,541 Shares of ExxonMobil Corporation $XOM

Headlands Technologies LLC grew its holdings in ExxonMobil Corporation (NYSE:XOM) by 1,399.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,866 shares of the oil and gas company’s stock after acquiring an additional 18,541 shares during the period. Headlands Technologies LLC’s holdings in ExxonMobil were worth $2,716,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of XOM. Bank of America Corp DE raised its holdings in ExxonMobil by 2.0% in 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 purchasing an additional 1,457,560 shares during the period. Norges Bank bought a new stake in ExxonMobil during the fourth quarter valued at about $7,625,063,000. Bank of New York Mellon Corp increased its position in 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 worth $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp increased its position in 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 worth $4,963,934,000 after buying an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after buying an additional 293,446 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Upgrades and Downgrades

XOM has been the topic of a number of analyst reports. Weiss Ratings raised ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 4th. Piper Sandler started coverage on shares of ExxonMobil in a research note on Thursday, July 23rd. They set a “neutral” rating and a $158.00 target price on the stock. Sanford C. Bernstein lowered their price target 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. DZ Bank lowered shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target for the company. in a research report on Tuesday, August 4th. Finally, Barclays reduced their price objective on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, ExxonMobil presently has a consensus rating of “Hold” and an average price target of $166.10.

ExxonMobil Stock Up 0.1%

Shares of XOM opened at $156.88 on Monday. The business’s 50 day moving average is $150.53 and its 200 day moving average is $151.88. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 12-month low of $108.35 and a 12-month high of $176.41. The company has a market capitalization of $650.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results 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). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The business had revenue of $114.53 billion during the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. Research analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil’s dividend payout ratio is currently 53.02%.

Key Headlines Impacting ExxonMobil

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

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.