Hollencrest Capital Management Sells 14,854 Shares of ExxonMobil Corporation $XOM

Hollencrest Capital Management cut its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 44.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 18,352 shares of the oil and gas company’s stock after selling 14,854 shares during the quarter. Hollencrest Capital Management’s holdings in ExxonMobil were worth $2,509,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of America Corp DE grew its position in ExxonMobil by 2.0% during 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 acquiring an additional 1,457,560 shares during the last quarter. Norges Bank bought a new position in ExxonMobil in the fourth quarter valued at about $7,625,063,000. Bank of New York Mellon Corp raised 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 valued at $5,608,488,000 after purchasing an additional 531,362 shares during the last quarter. Northern Trust Corp boosted its stake 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 valued at $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $4,102,708,000 after purchasing an additional 293,446 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Price Performance

ExxonMobil stock opened at $156.88 on Friday. The stock has a market capitalization of $650.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The stock’s 50 day moving average price is $150.53 and its two-hundred day moving average price is $151.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data 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 net margin of 8.88% and a return on equity of 13.14%. The company had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same quarter in the prior year, the company posted $1.64 EPS. On average, equities analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays lowered their price objective on ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Mizuho cut their target price on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. DZ Bank lowered shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 target price on the stock. in a report on Tuesday, August 4th. Freedom Capital upgraded shares of ExxonMobil from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Sanford C. Bernstein dropped their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $166.10.

Key Headlines 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

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.