Greenwood Capital Associates LLC Acquires 5,856 Shares of ExxonMobil Corporation $XOM

Greenwood Capital Associates LLC boosted its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 10.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,481 shares of the oil and gas company’s stock after purchasing an additional 5,856 shares during the quarter. Greenwood Capital Associates LLC’s holdings in ExxonMobil were worth $8,132,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of XOM. Bank of America Corp DE increased its holdings 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 buying an additional 1,457,560 shares during the last quarter. Norges Bank bought a new position in shares of ExxonMobil in the 4th quarter valued at about $7,625,063,000. Bank of New York Mellon Corp grew its position in ExxonMobil by 1.2% in 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 acquiring an additional 531,362 shares in the last quarter. Northern Trust Corp grew its position 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 acquiring an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in ExxonMobil by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company’s stock worth $4,102,708,000 after acquiring an additional 293,446 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on XOM shares. DZ Bank downgraded ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price objective on the stock. in a research report on Tuesday, August 4th. Morgan Stanley increased their price target on ExxonMobil from $168.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, August 19th. UBS Group set a $168.00 price target on ExxonMobil in a research report on Friday, August 7th. Bank of America lowered shares of ExxonMobil from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $154.00 to $158.00 in a research note on Tuesday, July 28th. Finally, TD Cowen boosted their price objective on shares of ExxonMobil from $155.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, ExxonMobil currently has an average rating of “Hold” and an average price target of $166.10.

ExxonMobil Stock Up 0.3%

Shares of NYSE:XOM opened at $156.88 on Friday. The firm has a market capitalization of $650.26 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 0.62 and a beta of 0.17. The business has a 50 day simple moving average of $150.53 and a two-hundred day simple moving average of $151.87. ExxonMobil Corporation has a 1 year low of $108.35 and a 1 year high of $176.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.13 and a quick ratio of 0.85.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The business had revenue of $114.53 billion during the quarter, compared to analysts’ expectations of $109.94 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. On average, equities analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. The ex-dividend date is Monday, August 17th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil’s dividend payout ratio (DPR) is presently 53.02%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I’m Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil’s Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

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.