Sit Investment Associates Inc. Sells 12,435 Shares of ExxonMobil Corporation $XOM

Sit Investment Associates Inc. cut its position in ExxonMobil Corporation (NYSE:XOM) by 19.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,680 shares of the oil and gas company’s stock after selling 12,435 shares during the quarter. Sit Investment Associates Inc.’s holdings in ExxonMobil were worth $6,099,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Berbice Capital Management LLC purchased a new position in ExxonMobil in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased a new stake in ExxonMobil during the 4th quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 187 shares in the last quarter. Key Capital Management INC bought a new stake in shares of ExxonMobil in the 4th quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

XOM has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on ExxonMobil from $183.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Sanford C. Bernstein lowered their target price on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Barclays raised their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. TD Cowen reiterated a “buy” rating on shares of ExxonMobil in a research note on Monday. Finally, UBS Group boosted their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, ExxonMobil presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.70.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s production has reached its highest level in more than 40 years, supported by aggressive output growth in Guyana, Texas, and Papua New Guinea. Higher volumes at lower costs should support cash flow and investor confidence. Article: Darren Woods’ Game Plan at Exxon Mobil: Produce More Oil for Less Money
• Positive Sentiment: ExxonMobil is expanding its long-term growth pipeline in Guyana’s Stabroek Block, with plans to drill up to 35 new exploration and appraisal wells from 2028 through 2033. This could extend reserve growth and future production. Article: ExxonMobil Advances New Exploration Push in Guyana’s Stabroek Block
• Neutral Sentiment: ExxonMobil reportedly struck a deal with ZET for South Africa’s first LNG terminal, highlighting continued international LNG expansion efforts. This is strategically constructive, but the near-term stock impact is unclear. Article: ExxonMobil and ZET strike deal for South Africa’s first LNG terminal
• Neutral Sentiment: Commentary suggesting ExxonMobil could pursue another megamerger or LNG acquisition may support long-term strategic speculation, but it is not a confirmed catalyst. Article: ExxonMobil Has Its Sights on Its Next Megamerger. Here’s the Oil Stock It Should Buy.
• Negative Sentiment: ExxonMobil shares fell alongside other oil stocks after the U.S. and Iran reached an interim agreement that could reopen the Strait of Hormuz and lift sanctions on Tehran’s oil. The deal pressures crude prices, which can reduce upstream earnings for XOM. Article: ExxonMobil and Occidental Petroleum Stocks Trade Down, What You Need To Know
• Negative Sentiment: Recent market commentary notes ExxonMobil has been under sustained selling pressure over the past days and weeks, reflecting weaker oil prices and a softer sector backdrop. Article: Exxon Mobil (XOM) Stock Could Be 18.9% Undervalued Despite Recent Pullback

ExxonMobil Stock Up 0.0%

XOM opened at $137.84 on Friday. ExxonMobil Corporation has a 1-year low of $105.53 and a 1-year high of $176.41. The firm’s 50 day simple moving average is $149.98 and its two-hundred day simple moving average is $143.22. 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 company has a market capitalization of $571.36 billion, a PE ratio of 23.25, a PEG ratio of 0.58 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.76 EPS. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

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.