Lazard Asset Management LLC Decreases Stock Position in ExxonMobil Corporation $XOM

Lazard Asset Management LLC cut its stake in ExxonMobil Corporation (NYSE:XOM) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,095,426 shares of the oil and gas company’s stock after selling 38,986 shares during the quarter. Lazard Asset Management LLC owned about 0.05% of ExxonMobil worth $355,510,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Berbice Capital Management LLC bought a new stake in ExxonMobil in the fourth quarter worth about $26,000. Midwest Capital Advisors LLC bought a new position in shares of ExxonMobil during the fourth quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after buying an additional 187 shares during the period. Key Capital Management INC purchased a new position in ExxonMobil during the 4th quarter valued at $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in ExxonMobil during the 4th quarter valued at $32,000. Institutional investors own 61.80% of the company’s stock.

ExxonMobil Trading Down 1.6%

XOM opened at $154.50 on Tuesday. The stock’s fifty day moving average is $145.80 and its two-hundred day moving average is $147.84. The company has a market capitalization of $640.42 billion, a P/E ratio of 26.05, a PEG ratio of 0.64 and a beta of 0.17. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the company posted $1.76 EPS. ExxonMobil’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that ExxonMobil Corporation will post 11.55 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, May 15th. ExxonMobil’s payout ratio is presently 69.48%.

Analyst Ratings Changes

A number of analysts have weighed in on XOM shares. Barclays increased their target price on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. UBS Group boosted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Scotiabank raised their price target on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $163.25.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s valuation may offer support. One analysis argues that the stock remains discounted based on discounted-cash-flow estimates and market multiples, despite its strong five-year performance and elevated oil prices. ExxonMobil Stock Could Be Cheap on Value Despite a 228% Run
• Positive Sentiment: The company is reportedly shifting new oil investment toward Nigeria and other African markets, potentially expanding its upstream growth opportunities and geographic diversification. Execution, political and operational risks remain considerations. ExxonMobil Is Moving New Oil Spending to Nigeria and Africa
• Neutral Sentiment: ExxonMobil is attracting unusually high investor search interest, which may increase near-term attention but does not itself change the company’s earnings outlook. Investors Heavily Search ExxonMobil
• Neutral Sentiment: ExxonMobil is among the major companies reporting during a particularly busy earnings week. Investors will look for updates on production, refining margins, capital spending and management’s outlook. Earnings Week Ahead
• Neutral Sentiment: Broader equities were mixed as markets awaited the Federal Reserve’s decision and additional earnings reports, leaving macroeconomic uncertainty as an important short-term influence on XOM. Equities Mixed Intraday as Markets Await Fed Decision
• Negative Sentiment: Oil prices fell as easing Middle East tensions reduced the geopolitical risk premium. Lower crude prices can pressure ExxonMobil’s upstream revenue, cash flow and profit expectations, helping explain why the stock weakened even as the broader market gained. Exxon Mobil Shares Fall as Oil Prices Tumble

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.