Korea Investment CORP Lowers Position in ExxonMobil Corporation $XOM

Korea Investment CORP cut its stake in ExxonMobil Corporation (NYSE:XOM) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,099,320 shares of the oil and gas company’s stock after selling 138,760 shares during the quarter. ExxonMobil comprises 0.7% of Korea Investment CORP’s holdings, making the stock its 17th largest holding. Korea Investment CORP’s holdings in ExxonMobil were worth $372,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Y Intercept Hong Kong Ltd increased its stake in shares of ExxonMobil by 161.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 177,722 shares of the oil and gas company’s stock valued at $21,387,000 after purchasing an additional 109,869 shares in the last quarter. Gator Capital Management LLC bought a new position in shares of ExxonMobil during the fourth quarter valued at approximately $2,869,000. Sumitomo Life Insurance Co. increased its stake in shares of ExxonMobil by 0.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 35,423 shares of the oil and gas company’s stock valued at $4,263,000 after purchasing an additional 306 shares in the last quarter. ROI Financial Advisors LLC increased its stake in shares of ExxonMobil by 19.2% during the fourth quarter. ROI Financial Advisors LLC now owns 4,454 shares of the oil and gas company’s stock valued at $536,000 after purchasing an additional 717 shares in the last quarter. Finally, Tudor Financial Inc. increased its stake in shares of ExxonMobil by 13.1% during the fourth quarter. Tudor Financial Inc. now owns 10,507 shares of the oil and gas company’s stock valued at $1,264,000 after purchasing an additional 1,218 shares in the last quarter. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Trading Up 0.1%

NYSE:XOM opened at $146.80 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The company has a market cap of $608.47 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. The company has a 50 day simple moving average of $152.09 and a two-hundred day simple moving average of $142.36.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter 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. Research analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was 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 presently 69.48%.

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares of the company’s stock, valued at $2,662,782. The trade was a 5.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is currently owned by insiders.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on XOM. Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Piper Sandler decreased their target price on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research note on Thursday, April 9th. Sanford C. Bernstein decreased their target price on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Barclays raised their target price on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Finally, BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Ten research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $165.55.

ExxonMobil Company 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.