Legal & General Group Plc Lowers Stock Holdings in ExxonMobil Corporation $XOM

Legal & General Group Plc trimmed its stake in ExxonMobil Corporation (NYSE:XOM) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,892,018 shares of the oil and gas company’s stock after selling 504,316 shares during the period. ExxonMobil comprises 0.5% of Legal & General Group Plc’s holdings, making the stock its 23rd biggest holding. Legal & General Group Plc’s holdings in ExxonMobil were worth $2,393,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in XOM. Berbice Capital Management LLC purchased a new stake in ExxonMobil in the 4th quarter valued at about $26,000. Midwest Capital Advisors LLC purchased a new stake in ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. boosted its position in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 187 shares during the period. Key Capital Management INC purchased a new stake in ExxonMobil in the 4th quarter valued at about $28,000. Finally, Westfuller Advisors LLC purchased a new stake in ExxonMobil in the 3rd quarter valued at about $30,000. 61.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Darrin L. Talley sold 1,080 shares of the stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares of the company’s stock, valued at $2,662,782. This represents a 5.93% decrease in their ownership of the stock. 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 insiders.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil’s Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

ExxonMobil Price Performance

Shares of XOM opened at $154.82 on Monday. The company has a 50 day moving average price of $155.79 and a 200-day moving average price of $139.12. ExxonMobil Corporation has a fifty-two week low of $101.18 and a fifty-two week high of $176.41. The stock has a market capitalization of $641.71 billion, a PE ratio of 26.11, a PEG ratio of 0.68 and a beta of 0.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the company earned $1.76 EPS. The company’s revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on XOM shares. Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Scotiabank upped their price target on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 22nd. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Finally, Sanford C. Bernstein lowered their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $163.95.

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.