Confluence Wealth Services Inc. Raises Stock Position in ExxonMobil Corporation $XOM

Confluence Wealth Services Inc. boosted its position in ExxonMobil Corporation (NYSE:XOM) by 59.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 294,079 shares of the oil and gas company’s stock after buying an additional 109,701 shares during the period. ExxonMobil accounts for about 1.1% of Confluence Wealth Services Inc.’s holdings, making the stock its 20th largest holding. Confluence Wealth Services Inc.’s holdings in ExxonMobil were worth $40,206,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its position in shares of ExxonMobil by 2.0% during the 4th quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after purchasing an additional 1,457,560 shares during the last quarter. Norges Bank purchased a new position in ExxonMobil during the fourth quarter worth about $7,625,063,000. Bank of New York Mellon Corp boosted its holdings in shares of ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after purchasing an additional 531,362 shares during the last quarter. Northern Trust Corp raised its holdings in shares of ExxonMobil by 1.0% in the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in ExxonMobil by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock valued at $4,102,708,000 after buying an additional 293,446 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on XOM. Wells Fargo & Company reissued an “overweight” rating and issued a $182.00 price objective on shares of ExxonMobil in a research report on Monday, August 3rd. Sanford C. Bernstein cut their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. Scotiabank upped their target price on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Finally, Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $163.29.

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $158.78 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. ExxonMobil Corporation has a 12-month low of $105.67 and a 12-month high of $176.41. The stock has a 50 day simple moving average of $146.80 and a 200-day simple moving average of $150.38. The company has a market cap of $658.13 billion, a PE ratio of 20.43, a P/E/G ratio of 0.63 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last issued 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 business had revenue of $114.53 billion for 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 period last year, the business posted $1.64 earnings per share. On average, equities research analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

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

ExxonMobil 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.