Principal Financial Group Inc. Decreases Stock Holdings in ExxonMobil Corporation $XOM

Principal Financial Group Inc. lowered its holdings in ExxonMobil Corporation (NYSE:XOM) by 6.3% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,099,948 shares of the oil and gas company’s stock after selling 410,557 shares during the quarter. Principal Financial Group Inc.’s holdings in ExxonMobil were worth $1,034,917,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in XOM. Impact Partnership Wealth LLC boosted its position in ExxonMobil by 0.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares during the period. Cardinal Strategic Wealth Guidance raised its position in ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock valued at $631,000 after purchasing an additional 68 shares during the period. ICW Investment Advisors LLC lifted its stake in shares of ExxonMobil by 0.3% during the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after purchasing an additional 69 shares in the last quarter. Swisher Financial Concepts Inc. boosted its position in shares of ExxonMobil by 0.3% in the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after buying an additional 69 shares during the period. Finally, Fortis Capital Management LLC grew its stake in shares of ExxonMobil by 2.0% in the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock valued at $434,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analyst Ratings Changes

XOM has been the subject of a number of analyst reports. Scotiabank upped their price target on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Jefferies Financial Group upped their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. TD Cowen lowered their price target on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Finally, Morgan Stanley dropped their price target on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, ExxonMobil presently has an average rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Price Performance

XOM stock opened at $147.56 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The stock’s 50 day moving average is $145.78 and its two-hundred day moving average is $146.31. The company has a market capitalization of $611.62 billion, a PE ratio of 24.88, a P/E/G ratio of 0.60 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.76 EPS. Analysts predict that ExxonMobil Corporation will post 11.43 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors 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 yield of 2.8%. ExxonMobil’s dividend payout ratio is currently 69.48%.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil’s Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation (NYSE:XOM) Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

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.