ExxonMobil Corporation $XOM Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. decreased its holdings in ExxonMobil Corporation (NYSE:XOM) by 13.5% in the second quarter, HoldingsChannel.com reports. The firm owned 612,761 shares of the oil and gas company’s stock after selling 95,885 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in ExxonMobil were worth $83,777,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of ExxonMobil during the 4th quarter worth approximately $7,625,063,000. GQG Partners LLC grew its stake in ExxonMobil by 153.3% in the 2nd quarter. GQG Partners LLC now owns 16,877,523 shares of the oil and gas company’s stock valued at $2,307,497,000 after acquiring an additional 10,214,420 shares during the period. Quantum Portfolio Management LLC acquired a new stake in ExxonMobil in the 1st quarter valued at $965,932,000. Arrowstreet Capital Limited Partnership purchased a new stake in ExxonMobil in the 1st quarter worth $766,345,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ExxonMobil by 18.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company’s stock valued at $1,925,119,000 after purchasing an additional 2,465,410 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on XOM shares. Wells Fargo & Company restated an “overweight” rating and set a $182.00 price target on shares of ExxonMobil in a research report on Monday, August 3rd. TD Cowen boosted their price objective on ExxonMobil from $155.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. HSBC set a $158.00 target price on ExxonMobil in a report on Monday, August 3rd. DZ Bank lowered ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 price target on the stock. in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and set a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, ExxonMobil currently has an average rating of “Hold” and an average target price of $166.10.

ExxonMobil Stock Up 2.2%

Shares of XOM opened at $164.55 on Wednesday. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $151.47 and a two-hundred day simple moving average of $152.01. The company has a market capitalization of $682.05 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 0.99 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings results 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 firm had revenue of $114.53 billion for the quarter, compared to analyst estimates of $109.94 billion. During the same period in the previous year, the firm posted $1.64 EPS. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current year.

ExxonMobil Dividend Announcement

The company 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. This represents a $4.12 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil’s payout ratio is presently 53.02%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Potential return to Venezuela: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially giving XOM access to large oil reserves and a long-term production opportunity after its exit from the country in 2007. The company reportedly sent a technical team to evaluate opportunities earlier this year. Trump says Exxon is going in Venezuela
• Positive Sentiment: Higher oil prices are supporting the sector: Renewed conflict involving Iran and ongoing shipping constraints around the Strait of Hormuz pushed crude prices higher, improving the near-term earnings outlook for integrated producers such as ExxonMobil. Energy stocks and related ETFs advanced alongside the commodity rally. Oil prices rise amid Iran conflict
• Positive Sentiment: Possible chemicals expansion: ExxonMobil is reportedly among bidders for Shell’s U.S. chemicals assets, potentially for about $8 billion. Acquiring the plants could deepen XOM’s chemicals presence, although the purchase price and returns remain uncertain. ExxonMobil bid for Shell chemicals assets

About ExxonMobil

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.