Conning Inc. Sells 15,423 Shares of ExxonMobil Corporation $XOM

Conning Inc. lessened its stake in ExxonMobil Corporation (NYSE:XOM) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 303,273 shares of the oil and gas company’s stock after selling 15,423 shares during the period. ExxonMobil comprises about 1.2% of Conning Inc.’s portfolio, making the stock its 7th largest holding. Conning Inc.’s holdings in ExxonMobil were worth $36,496,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XOM. Franklin Resources Inc. boosted its position in shares of ExxonMobil by 7.4% during the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after buying an additional 2,660,910 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in shares of ExxonMobil by 218.4% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock valued at $155,696,000 after buying an additional 2,546,791 shares during the period. AQR Capital Management LLC lifted its stake in ExxonMobil by 105.4% during the 3rd quarter. AQR Capital Management LLC now owns 2,925,026 shares of the oil and gas company’s stock worth $329,797,000 after acquiring an additional 1,501,235 shares in the last quarter. Bessemer Group Inc. lifted its stake in ExxonMobil by 119.4% during the 3rd quarter. Bessemer Group Inc. now owns 2,672,359 shares of the oil and gas company’s stock worth $301,310,000 after acquiring an additional 1,454,308 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in ExxonMobil by 4.5% during the 3rd quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company’s stock valued at $2,299,687,000 after acquiring an additional 886,087 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Price Performance

Shares of NYSE XOM opened at $152.58 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company has a market cap of $632.42 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 0.66 and a beta of 0.19. The stock’s 50-day moving average is $154.89 and its two-hundred day moving average is $137.31. ExxonMobil Corporation has a 1-year low of $101.18 and a 1-year high of $176.41.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $81.13 billion. During the same quarter last year, the business posted $1.76 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Analysts forecast that ExxonMobil Corporation will post 11.5 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. ExxonMobil’s payout ratio is currently 69.48%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil saw unusually heavy bullish options activity, with investors buying 413,969 call options — nearly triple the usual daily volume — signaling rising trader expectations for more upside.
• Positive Sentiment: Broader energy-sector news remains supportive, including articles pointing to tighter oil supplies, possible geopolitical disruptions, and a “glitch” in the oil market that could benefit integrated producers like ExxonMobil. Article Title
• Positive Sentiment: Commentary on the durability of the energy rally has also been constructive, with analysts saying the sector’s discipline could help keep profits and valuations supported.
• Neutral Sentiment: ExxonMobil announced that senior vice president Neil Chapman will speak at the Bernstein 42nd Annual Strategic Decisions Conference on May 28. The event is routine investor-relations news, but it keeps the company in focus ahead of the upcoming meeting. Article Title
• Neutral Sentiment: ExxonMobil is also preparing for a shareholder vote on moving its incorporation from New Jersey to Texas. Management says the change would preserve or improve shareholder protections, but proxy advisers and some investors are urging a “no” vote, making this a governance issue to watch. Article Title
• Negative Sentiment: Proxy advisory firms Glass Lewis and ISS have recommended that investors oppose some board positions and Exxon’s Texas redomicile proposal, raising the risk of a contentious annual meeting and potential governance overhang. Article Title

Analysts Set New Price Targets

XOM has been the topic of a number of recent research reports. Scotiabank boosted 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. Loop Capital set a $123.00 price objective on shares of ExxonMobil in a research note on Tuesday, February 3rd. BMO Capital Markets restated a “market perform” rating and issued a $155.00 price objective on shares of ExxonMobil in a report on Wednesday, February 4th. Citigroup upped their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, April 2nd. Finally, HSBC increased their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.95.

Insider Buying and Selling

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total transaction of $339,313.00. Following the completion of the transaction, the vice president owned 18,204 shares in the company, valued at $2,872,955.28. The trade was a 10.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.03% of the stock is owned by company insiders.

About ExxonMobil

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.