Cookson Peirce & Co. Inc. Boosts Holdings in ExxonMobil Corporation $XOM

Cookson Peirce & Co. Inc. raised its position in ExxonMobil Corporation (NYSE:XOM) by 52.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,031 shares of the oil and gas company’s stock after purchasing an additional 5,513 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in ExxonMobil were worth $2,192,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Private Management Group Inc. lifted its holdings in ExxonMobil by 4.9% during the 2nd quarter. Private Management Group Inc. now owns 15,361 shares of the oil and gas company’s stock valued at $2,100,000 after buying an additional 719 shares in the last quarter. Bluefin Capital Management LLC purchased a new position in shares of ExxonMobil during the second quarter worth approximately $287,000. Greenwood Capital Associates LLC raised its stake in shares of ExxonMobil by 10.9% during the second quarter. Greenwood Capital Associates LLC now owns 59,481 shares of the oil and gas company’s stock valued at $8,132,000 after acquiring an additional 5,856 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of ExxonMobil by 0.4% in the second quarter. Greenleaf Trust now owns 109,525 shares of the oil and gas company’s stock valued at $14,974,000 after purchasing an additional 427 shares during the period. Finally, New Mexico Educational Retirement Board grew its stake in ExxonMobil by 5.2% in the second quarter. New Mexico Educational Retirement Board now owns 207,853 shares of the oil and gas company’s stock worth $28,418,000 after purchasing an additional 10,200 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about 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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on XOM shares. Sanford C. Bernstein dropped their price target on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research report on Monday, May 11th. Barclays lowered their price objective on shares of ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Piper Sandler assumed coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They set a “neutral” rating and a $158.00 target price on the stock. TD Cowen boosted their price target on shares of ExxonMobil from $155.00 to $168.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Bank of America cut shares of ExxonMobil from a “buy” rating to a “neutral” rating and upped their price target for the stock from $154.00 to $158.00 in a research report on Tuesday, July 28th. 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 target price of $166.10.

ExxonMobil Stock Performance

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

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 EPS 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 firm had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same quarter last year, the firm earned $1.64 EPS. On average, equities analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Announces Dividend

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

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.