Northeast Investment Management Has $28.03 Million Stock Holdings in ExxonMobil Corporation $XOM

Northeast Investment Management lowered its position in shares of ExxonMobil Corporation (NYSE:XOM) by 2.8% in the first quarter, HoldingsChannel reports. The fund owned 165,190 shares of the oil and gas company’s stock after selling 4,812 shares during the period. ExxonMobil makes up 1.2% of Northeast Investment Management’s portfolio, making the stock its 27th largest position. Northeast Investment Management’s holdings in ExxonMobil were worth $28,026,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in XOM. Berbice Capital Management LLC acquired a new position in ExxonMobil during the fourth quarter worth $26,000. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil in the 4th quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. increased its stake in ExxonMobil by 456.1% in the 4th 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 buying an additional 187 shares during the last quarter. Key Capital Management INC bought a new stake in ExxonMobil during the 4th quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in ExxonMobil during the 4th quarter worth about $32,000. 61.80% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

XOM has been the subject of several analyst reports. Scotiabank raised their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Citigroup upped their target price on ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, April 2nd. Bank of America upgraded 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 lowered their price target on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Finally, Zacks Research cut ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, ExxonMobil has a consensus rating of “Moderate Buy” and an average target price of $165.55.

ExxonMobil Trading Down 0.3%

Shares of ExxonMobil stock opened at $136.14 on Tuesday. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The company has a market capitalization of $564.28 billion, a price-to-earnings ratio of 22.96, a P/E/G ratio of 0.58 and a beta of 0.16. The business has a fifty day simple moving average of $148.28 and a two-hundred day simple moving average of $144.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.76 earnings per share. Research analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 3.0%. ExxonMobil’s payout ratio is 69.48%.

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.