Associated Banc Corp Acquires 5,084 Shares of ExxonMobil Corporation $XOM

Associated Banc Corp grew its position in ExxonMobil Corporation (NYSE:XOM) by 1.0% during the 4th quarter, HoldingsChannel reports. The firm owned 539,635 shares of the oil and gas company’s stock after purchasing an additional 5,084 shares during the quarter. ExxonMobil comprises about 1.7% of Associated Banc Corp’s portfolio, making the stock its 12th largest holding. Associated Banc Corp’s holdings in ExxonMobil were worth $64,940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northern Trust Corp raised its holdings in shares of ExxonMobil by 1.0% during 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 acquiring an additional 445,283 shares during the period. Franklin Resources Inc. raised its holdings 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 acquiring an additional 2,660,910 shares during the period. Capital Research Global Investors raised its holdings in shares of ExxonMobil by 0.4% during the third quarter. Capital Research Global Investors now owns 33,620,927 shares of the oil and gas company’s stock worth $3,790,773,000 after acquiring an additional 127,466 shares during the period. Fisher Asset Management LLC raised its holdings in shares of ExxonMobil by 1.1% during the third quarter. Fisher Asset Management LLC now owns 31,194,493 shares of the oil and gas company’s stock worth $3,517,179,000 after acquiring an additional 340,785 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of ExxonMobil by 4.5% during the third quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company’s stock worth $2,299,687,000 after acquiring an additional 886,087 shares during the period. 61.80% of the stock is owned by institutional investors.

Key Stories Impacting ExxonMobil

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

Insider Buying and Selling at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of the company’s 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 approximately $2,662,782. This represents a 5.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.03% of the company’s stock.

ExxonMobil Stock Performance

NYSE XOM opened at $154.82 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. The company has a market capitalization of $641.71 billion, a P/E ratio of 26.11, a P/E/G ratio of 0.68 and a beta of 0.19. ExxonMobil Corporation has a 12-month low of $101.18 and a 12-month high of $176.41. The firm has a 50-day moving average price of $155.79 and a two-hundred day moving average price of $138.95.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data 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. 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 the consensus estimate of $81.13 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts anticipate that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

Analyst Upgrades and Downgrades

XOM has been the topic of a number of research analyst reports. Wolfe Research lowered shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Sanford C. Bernstein lowered their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. HSBC lifted their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research note on Friday, March 20th. Weiss Ratings lowered shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday. Finally, TD Cowen lowered their price target on shares of ExxonMobil from $175.00 to $172.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. One 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $163.95.

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.