Geode Capital Management LLC Sells 231,011 Shares of ExxonMobil Corporation $XOM

Geode Capital Management LLC decreased its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 95,923,254 shares of the oil and gas company’s stock after selling 231,011 shares during the quarter. ExxonMobil accounts for 0.7% of Geode Capital Management LLC’s holdings, making the stock its 16th largest position. Geode Capital Management LLC’s holdings in ExxonMobil were worth $11,494,307,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eagle Capital Management LLC grew its stake in ExxonMobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after buying an additional 376 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of ExxonMobil during the first quarter worth approximately $305,000. Sivia Capital Partners LLC lifted its position in shares of ExxonMobil by 1.9% during the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock worth $1,211,000 after purchasing an additional 207 shares in the last quarter. United Bank lifted its holdings in ExxonMobil by 2.8% in the second quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock valued at $2,352,000 after buying an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. lifted its holdings in ExxonMobil by 17.4% in the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock valued at $3,957,000 after buying an additional 5,443 shares during the period. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Trading Down 1.3%

Shares of ExxonMobil stock opened at $147.80 on Thursday. The firm has a market capitalization of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $155.51 and its 200 day moving average is $139.90. ExxonMobil Corporation has a 1 year low of $101.18 and a 1 year high of $176.41.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the firm posted $1.76 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts forecast that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be given a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s payout ratio is 69.48%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president owned 18,204 shares in the company, valued at approximately $2,872,955.28. The trade was a 10.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XOM. Citigroup increased their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. TD Cowen cut their target price on shares of ExxonMobil from $175.00 to $172.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Loop Capital set a $123.00 target price on shares of ExxonMobil in a research note on Tuesday, February 3rd. Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Finally, Zacks Research upgraded shares of ExxonMobil from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.55.

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.