ExxonMobil Corporation $XOM Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. increased its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 89.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,468,330 shares of the oil and gas company’s stock after acquiring an additional 692,376 shares during the period. ExxonMobil accounts for 0.6% of Panagora Asset Management Inc.’s investment portfolio, making the stock its 27th biggest position. Panagora Asset Management Inc.’s holdings in ExxonMobil were worth $176,699,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in ExxonMobil during the 4th quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp grew its position in ExxonMobil by 1.2% in the fourth 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 acquiring an additional 531,362 shares in the last quarter. Northern Trust Corp grew its position in ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock valued at $4,963,934,000 after acquiring an additional 445,283 shares in the last quarter. Franklin Resources Inc. grew its position in ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after acquiring an additional 2,660,910 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 acquiring an additional 293,446 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on XOM shares. Jefferies Financial Group increased their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a research report on Tuesday, May 5th. Barclays increased their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Piper Sandler lowered their price objective on shares of ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Zacks Research downgraded shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $165.55.

ExxonMobil Stock Performance

ExxonMobil stock opened at $140.86 on Tuesday. The stock has a market cap of $583.84 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16. 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 stock has a 50 day moving average of $151.69 and a 200-day moving average of $142.73. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during 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%.The business’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.76 EPS. On average, analysts expect that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio is 69.48%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil applied for environmental authorization for a 35-well exploration campaign offshore Guyana, signaling continued investment in one of its most important long-term growth areas. Exxon Mobil seeks environmental permit for exploration in offshore Guyana
• Positive Sentiment: Analysts noted that stronger oil prices could still boost ExxonMobil’s energy business because its low-cost Permian and Guyana assets are well positioned to benefit in a favorable crude market. Will Strong Oil Prices Boost ExxonMobil’s Energy Business?
• Neutral Sentiment: Reports that ExxonMobil is weighing an early-stage bid for Woodside Energy were followed by Woodside denying any takeover talks, making the M&A speculation unclear for investors. ExxonMobil weighs early stage bid for Woodside Energy Group
• Negative Sentiment: ExxonMobil stock fell as the broader market rose, reflecting a sector-specific selloff tied to weaker oil prices and reduced optimism for near-term energy earnings. Exxon Mobil (XOM) Stock Falls Amid Market Uptick: What Investors Need to Know

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.