Madison Asset Management LLC Sells 4,844 Shares of ExxonMobil Corporation $XOM

Madison Asset Management LLC lessened its stake in ExxonMobil Corporation (NYSE:XOM) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,414 shares of the oil and gas company’s stock after selling 4,844 shares during the period. Madison Asset Management LLC’s holdings in ExxonMobil were worth $28,358,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Berbice Capital Management LLC bought a new position in ExxonMobil in the fourth quarter valued at $26,000. Midwest Capital Advisors LLC bought a new stake in ExxonMobil in the 4th quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in 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 in the last quarter. Aventus Investment Advisors Inc. bought a new position in ExxonMobil during the second quarter valued at approximately $27,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

XOM stock opened at $164.91 on Thursday. The stock has a market capitalization of $683.54 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 0.65 and a beta of 0.17. ExxonMobil Corporation has a 12-month low of $107.68 and a 12-month high of $176.41. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $147.81 and its 200 day simple moving average is $151.10.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion for the quarter, compared to analysts’ expectations of $109.94 billion. ExxonMobil had a net margin of 8.88% and a return on equity of 13.14%. During the same quarter in the prior year, the business posted $1.64 earnings per share. As a group, research analysts forecast that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given 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 dividend yield of 2.5%. ExxonMobil’s dividend payout ratio (DPR) is 53.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler assumed coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 target price on the stock. Scotiabank raised their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $154.00 to $158.00 in a report on Tuesday, July 28th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings raised shares of ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 4th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $166.10.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil-market strength is the main near-term catalyst. Crude prices moved above $85 per barrel as disruptions linked to the U.S.-Iran conflict affected flows through the Strait of Hormuz. The broader energy sector has gained roughly 40% year to date, improving the outlook for ExxonMobil’s upstream earnings and cash flow. What’s Going On With Exxon Stock on Wednesday?
• Positive Sentiment: ExxonMobil and its partners awarded approximately $1.1 billion in contracts for early work on the Rovuma LNG Phase 1 project in Mozambique. The contracts advance a major future liquefied natural gas development and signal renewed progress after earlier delays. ExxonMobil Awards $1.1B Contracts for Mozambique LNG Project
• Positive Sentiment: Permian Basin expansion is gaining visibility. ExxonMobil’s new agreements with Targa Resources extend through 2046 and add acreage and up to 825 million cubic feet per day of processing capacity, supporting production growth and long-term U.S. natural-gas exposure. Targa Resources Signs 20-Year Agreements With ExxonMobil
• Positive Sentiment: The company raised its dividend 4% to $1.03 per share, marking 26 consecutive years of dividend increases and reinforcing ExxonMobil’s income-investment appeal. Exxon Mobil Raises Dividend
• Neutral Sentiment: ExxonMobil’s recent operational momentum includes record production and strong free cash flow, but the company’s latest quarterly earnings per share modestly missed analyst expectations despite stronger-than-expected revenue.
• Negative Sentiment: Analysts note that XOM is trading near recent highs with momentum indicators appearing stretched. Mozambique LNG also brings substantial upfront spending and geopolitical and execution risks, which could limit the immediate earnings benefit.

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.