Spinnaker Trust Reduces Position in ExxonMobil Corporation $XOM

Spinnaker Trust trimmed its holdings in ExxonMobil Corporation (NYSE:XOM) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,763 shares of the oil and gas company’s stock after selling 4,113 shares during the period. Spinnaker Trust’s holdings in ExxonMobil were worth $11,157,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in XOM. Bank of America Corp DE increased its position in shares of ExxonMobil by 2.0% in 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 bought a new position in shares of ExxonMobil during the fourth quarter worth about $7,625,063,000. Bank of New York Mellon Corp lifted its position in shares of ExxonMobil by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after purchasing an additional 531,362 shares during the last quarter. Northern Trust Corp grew its stake 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 worth $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake 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 worth $4,366,655,000 after purchasing an additional 2,660,910 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil Stock Down 0.0%

ExxonMobil stock opened at $137.03 on Friday. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The stock has a market cap of $567.99 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.58 and a beta of 0.17. The company’s 50-day moving average price is $147.37 and its two-hundred day moving average price is $144.60. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the prior year, the firm posted $1.76 earnings per share. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that ExxonMobil Corporation will post 11.9 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. ExxonMobil’s dividend payout ratio is currently 69.48%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy reached a key milestone in their Cyprus offshore gas project, with a Declaration of Marketability helping advance the Glaucus and Pegasus fields toward development. That supports Exxon’s long-term growth pipeline. XOM, QatarEnergy Reach Milestone in Cyprus Offshore Gas Development
• Positive Sentiment: TD Cowen kept a buy rating on ExxonMobil while lowering its price target to $155 from $172, which still implies upside from current levels and suggests Wall Street remains constructive on the stock.
• Positive Sentiment: A Seeking Alpha piece upgraded ExxonMobil, arguing the valuation is attractive and that the company has overlooked market opportunities. That reinforces the view that XOM may have room to rerate. ExxonMobil: I’m Re-Entering As Valuation Is Attractive With Overlooked Market Opportunities (Rating Upgrade)
• Neutral Sentiment: Exxon completed its legal redomicile from New Jersey to Texas and also won a Supreme Court ruling that revives an old lawsuit, removing some uncertainty but not directly changing the operating outlook. Exxon (XOM) flashes key signals on New Jersey exit
• Neutral Sentiment: Analyst and media coverage noted that Exxon can still grow production even with oil below $70, and a bullish market note said the company could outperform if cash flow remains strong. These are supportive but largely restate Exxon’s resilience. Can ExxonMobil’s Upstream Business Thrive With Oil Below $70?
• Negative Sentiment: President Trump is pressuring Big Oil to lower gasoline prices ahead of the midterm elections, which could increase political scrutiny on ExxonMobil and the broader sector if margin pressure follows. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Analyst Ratings Changes

Several equities research analysts recently issued reports on XOM shares. JPMorgan Chase & Co. upped their price target on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. Mizuho boosted their target price on shares of ExxonMobil from $159.00 to $175.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Jefferies Financial Group increased their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Finally, HSBC lifted their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a report on Friday, March 20th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, ExxonMobil currently has an average rating of “Moderate Buy” and an average target price of $164.70.

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.