QRG Capital Management Inc. Increases Stock Holdings in ExxonMobil Corporation $XOM

QRG Capital Management Inc. raised its position in shares of ExxonMobil Corporation (NYSE:XOM) by 13.7% in the first quarter, HoldingsChannel reports. The firm owned 683,407 shares of the oil and gas company’s stock after buying an additional 82,314 shares during the quarter. ExxonMobil makes up 1.2% of QRG Capital Management Inc.’s investment portfolio, making the stock its 12th largest position. QRG Capital Management Inc.’s holdings in ExxonMobil were worth $115,947,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Impact Partnership Wealth LLC grew its position in ExxonMobil by 0.6% during the first quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock valued at $2,039,000 after buying an additional 67 shares during the period. Cardinal Strategic Wealth Guidance raised its position in ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 68 shares during the period. ICW Investment Advisors LLC boosted its stake in shares of ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 69 shares during the last quarter. Swisher Financial Concepts Inc. grew its position in shares of ExxonMobil by 0.3% during the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock valued at $4,649,000 after acquiring an additional 69 shares during the period. Finally, Fortis Capital Management LLC grew its position in shares of ExxonMobil by 2.0% during the 4th quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock valued at $434,000 after acquiring an additional 70 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Down 0.5%

XOM opened at $140.91 on Thursday. The stock has a market cap of $584.07 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The firm’s fifty day moving average is $146.80 and its 200 day moving average is $145.28. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. On average, sell-side analysts forecast that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler decreased their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a report on Thursday, April 9th. TD Cowen reduced their price target on ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. Mizuho raised their price objective on ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research report on Wednesday. Finally, UBS Group boosted their price objective on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $164.70.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices could lift second-quarter upstream earnings by $3.5 billion to $3.9 billion, reinforcing expectations for a strong Q2 profit beat. Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Crude prices jumped after U.S. strikes on Iranian targets and the collapse of the cease-fire backdrop, which tends to boost integrated oil producers like ExxonMobil through stronger upstream margins. Oil Prices Jump After U.S. Strikes Kharg Island, Trump Says Cease-Fire Is ‘Over’
• Positive Sentiment: ExxonMobil and partners will invest $1 billion in Nigeria’s Usan offshore project, expected to add 40,000 barrels per day of production, supporting longer-term output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

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.