Spinnaker Trust Trims Holdings in ExxonMobil Corporation $XOM

Spinnaker Trust lowered its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,763 shares of the oil and gas company’s stock after selling 4,113 shares during the quarter. Spinnaker Trust’s holdings in ExxonMobil were worth $11,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Norges Bank acquired a new position in ExxonMobil in the 4th quarter valued at $7,625,063,000. Franklin Resources Inc. boosted its holdings in shares of ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after acquiring an additional 2,660,910 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of ExxonMobil by 218.4% during the third quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock worth $155,696,000 after acquiring an additional 2,546,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 worth $1,925,119,000 after purchasing an additional 2,465,410 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in ExxonMobil by 334.4% during the fourth quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company’s stock worth $368,541,000 after purchasing an additional 2,357,467 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy reached a key milestone in their Cyprus offshore gas project, with a Declaration of Marketability helping advance the Glaucus and Pegasus fields toward development. That supports Exxon’s long-term growth pipeline. XOM, QatarEnergy Reach Milestone in Cyprus Offshore Gas Development
• Positive Sentiment: TD Cowen kept a buy rating on ExxonMobil while lowering its price target to $155 from $172, which still implies upside from current levels and suggests Wall Street remains constructive on the stock.
• Positive Sentiment: A Seeking Alpha piece upgraded ExxonMobil, arguing the valuation is attractive and that the company has overlooked market opportunities. That reinforces the view that XOM may have room to rerate. ExxonMobil: I’m Re-Entering As Valuation Is Attractive With Overlooked Market Opportunities (Rating Upgrade)
• Neutral Sentiment: Exxon completed its legal redomicile from New Jersey to Texas and also won a Supreme Court ruling that revives an old lawsuit, removing some uncertainty but not directly changing the operating outlook. Exxon (XOM) flashes key signals on New Jersey exit
• Neutral Sentiment: Analyst and media coverage noted that Exxon can still grow production even with oil below $70, and a bullish market note said the company could outperform if cash flow remains strong. These are supportive but largely restate Exxon’s resilience. Can ExxonMobil’s Upstream Business Thrive With Oil Below $70?
• Negative Sentiment: President Trump is pressuring Big Oil to lower gasoline prices ahead of the midterm elections, which could increase political scrutiny on ExxonMobil and the broader sector if margin pressure follows. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

ExxonMobil Price Performance

ExxonMobil stock opened at $137.03 on Friday. The stock has a market capitalization of $567.99 billion, a P/E ratio of 23.11, a P/E/G ratio of 0.58 and a beta of 0.17. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The firm’s 50-day moving average is $147.37 and its two-hundred day moving average is $144.60.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm 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% compared to the same quarter last year. During the same period in the prior year, the business posted $1.76 earnings per share. Equities analysts predict that ExxonMobil Corporation will post 11.9 earnings per share for the current year.

ExxonMobil Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on XOM. Barclays raised their price target on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. UBS Group increased their price objective on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Bank of America upgraded shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 target price on the stock in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.70.

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.