Associated Banc Corp Has $90.97 Million Position in ExxonMobil Corporation $XOM

Associated Banc Corp reduced its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 0.6% during the first quarter, HoldingsChannel reports. The firm owned 536,196 shares of the oil and gas company’s stock after selling 3,439 shares during the period. ExxonMobil comprises 2.4% of Associated Banc Corp’s portfolio, making the stock its 9th biggest holding. Associated Banc Corp’s holdings in ExxonMobil were worth $90,971,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Bank of America Corp DE lifted its stake 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 valued at $9,043,836,000 after acquiring an additional 1,457,560 shares during the period. Norges Bank bought a new stake in shares of ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp raised its holdings in shares of ExxonMobil by 1.2% during 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 lifted its position in 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted its position 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 valued at $4,102,708,000 after purchasing an additional 293,446 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

ExxonMobil Price Performance

Shares of ExxonMobil stock opened at $145.79 on Friday. The stock has a market cap of $604.31 billion, a P/E ratio of 24.59, a P/E/G ratio of 0.59 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 stock’s fifty day moving average is $145.72 and its 200 day moving average is $146.30. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. ExxonMobil’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that ExxonMobil Corporation will post 11.43 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is currently 69.48%.

Analyst Ratings Changes

A number of research firms have commented on XOM. Wolfe Research downgraded shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, April 21st. Citigroup reissued a “neutral” rating on shares of ExxonMobil in a report on Wednesday, July 8th. Wells Fargo & Company raised their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Weiss Ratings lowered ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Finally, Morgan Stanley reduced their price objective on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, ExxonMobil has an average rating of “Moderate Buy” and an average price target of $164.45.

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.