State of Michigan Retirement System Has $185.22 Million Position in ExxonMobil Corporation $XOM

State of Michigan Retirement System cut its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,091,718 shares of the oil and gas company’s stock after selling 12,300 shares during the quarter. ExxonMobil makes up 1.0% of State of Michigan Retirement System’s portfolio, making the stock its 16th largest position. State of Michigan Retirement System’s holdings in ExxonMobil were worth $185,221,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Berbice Capital Management LLC bought a new stake in ExxonMobil during the fourth quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil during the fourth quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. grew its stake in ExxonMobil by 456.1% in the fourth 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 purchasing an additional 187 shares in the last quarter. Key Capital Management INC bought a new position in ExxonMobil in the fourth quarter valued at approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of ExxonMobil during the 4th quarter worth approximately $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Sanford C. Bernstein dropped their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Jefferies Financial Group boosted 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. Bank of America upgraded shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price target for the company in a research note on Tuesday, June 16th. Piper Sandler decreased 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, JPMorgan Chase & Co. boosted their price objective on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.45.

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $147.56 on Friday. 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 company has a market capitalization of $611.62 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.60 and a beta of 0.17. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The stock has a 50 day moving average of $145.78 and a 200-day moving average of $146.31.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating 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 business had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the prior year, the business earned $1.76 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that ExxonMobil Corporation will post 11.43 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given 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 2.8%. ExxonMobil’s dividend payout ratio is presently 69.48%.

Trending Headlines about ExxonMobil

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.

ExxonMobil Company 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.