Envestnet Asset Management Inc. Sells 706,761 Shares of ExxonMobil Corporation $XOM

Envestnet Asset Management Inc. cut its position in ExxonMobil Corporation (NYSE:XOM) by 13.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,635,894 shares of the oil and gas company’s stock after selling 706,761 shares during the quarter. Envestnet Asset Management Inc.’s holdings in ExxonMobil were worth $633,821,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of ExxonMobil by 8.3% during the 1st quarter. Assetmark Inc. now owns 492,309 shares of the oil and gas company’s stock worth $83,525,000 after purchasing an additional 37,666 shares in the last quarter. Charles Schwab Trust Co raised its stake in shares of ExxonMobil by 392.9% in the second quarter. Charles Schwab Trust Co now owns 122,223 shares of the oil and gas company’s stock valued at $16,710,000 after purchasing an additional 97,424 shares in the last quarter. CV Advisors LLC lifted its position in ExxonMobil by 126.7% in the second quarter. CV Advisors LLC now owns 11,589 shares of the oil and gas company’s stock worth $1,584,000 after purchasing an additional 6,478 shares during the period. Midwest Trust Co lifted its position in ExxonMobil by 3.9% in the first quarter. Midwest Trust Co now owns 710,969 shares of the oil and gas company’s stock worth $120,623,000 after purchasing an additional 26,411 shares during the period. Finally, Valpey Financial Services LLC boosted its stake in ExxonMobil by 12,037.6% during the fourth quarter. Valpey Financial Services LLC now owns 476,400 shares of the oil and gas company’s stock worth $57,330,000 after buying an additional 472,475 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil reportedly delivered record oil production and revenue while maintaining lower capital spending. Higher output from high-return assets, including the Permian Basin, along with technology and efficiency gains, supports margins and free-cash-flow generation. ExxonMobil Delivers Record Oil Output and Revenue on Lower Spending
• Positive Sentiment: A debt-to-capitalization ratio of 13.73% gives XOM balance-sheet flexibility to withstand oil and gas price swings while continuing operations, capital investment and shareholder distributions. How ExxonMobil’s Balance Sheet Helps Navigate Oil Volatility
• Positive Sentiment: Strong cash generation is allowing ExxonMobil to fund growth projects and shareholder returns simultaneously, supporting management’s 2030 earnings and cash-flow objectives. Can ExxonMobil Keep Rewarding Shareholders While Investing for Growth?
• Positive Sentiment: The company’s plan to expand LNG sales toward 50 million tons by 2030 could strengthen its position in global gas markets and diversify earnings beyond traditional upstream oil. Exxon’s 2030 LNG Sales Target
• Neutral Sentiment: Potential disruption around the Strait of Hormuz could lift crude prices and create upside for ExxonMobil, but the market’s muted reaction and recent oil weakness show that the benefit remains uncertain. If Hormuz Stays Shut, How High Can Exxon Go?
• Neutral Sentiment: ExxonMobil is reportedly considering a return to Venezuela, which could provide access to substantial resources but would also expose the company to political, regulatory and execution risks. Exxon Could Return to Venezuela
• Negative Sentiment: Some current energy-market enthusiasm is directed toward Chevron rather than ExxonMobil, while uncertainty over oil prices and Middle East developments may limit near-term enthusiasm for XOM.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XOM. Mizuho lowered their price target on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of ExxonMobil to a “hold” rating in a research report on Saturday, September 5th. Wells Fargo & Company reissued an “overweight” rating and issued a $182.00 target price on shares of ExxonMobil in a research note on Monday, August 3rd. Finally, Piper Sandler increased their price target on shares of ExxonMobil from $158.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Ten investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $167.45.

ExxonMobil Price Performance

Shares of NYSE XOM traded up $2.45 during midday trading on Wednesday, reaching $161.16. 12,567,237 shares of the company traded hands, compared to its average volume of 18,580,574. The firm has a market cap of $668.00 billion, a PE ratio of 20.74, a PEG ratio of 0.97 and a beta of 0.18. The stock’s 50-day simple moving average is $158.76 and its 200-day simple moving average is $153.38. ExxonMobil Corporation has a 12 month low of $110.39 and a 12 month high of $176.41. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing analysts’ consensus estimates of $3.56 by ($0.04). The firm had revenue of $114.53 billion during the quarter, compared to analyst estimates of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, equities analysts anticipate that ExxonMobil Corporation will post 11.93 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 17th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

ExxonMobil Profile

Exxon Mobil Corporation, doing business as ExxonMobil, is an integrated energy company engaged in the exploration, development, production and marketing of crude oil and natural gas. Its upstream operations support oil and natural gas production in multiple regions worldwide, while its downstream businesses refine crude oil into fuels and other petroleum products for commercial, industrial and consumer markets.

Through its product solutions businesses, ExxonMobil manufactures and markets lubricants, specialty fluids, petroleum-derived products and chemical products, including commodity and performance chemicals used in packaging, automotive components, construction materials and other industrial applications.