Kornitzer Capital Management Inc. KS Has $110.88 Million Stock Holdings in ExxonMobil Corporation $XOM

Kornitzer Capital Management Inc. KS trimmed its position in shares of ExxonMobil Corporation (NYSE:XOM) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 653,550 shares of the oil and gas company’s stock after selling 17,847 shares during the period. ExxonMobil comprises 2.4% of Kornitzer Capital Management Inc. KS’s holdings, making the stock its 3rd biggest holding. Kornitzer Capital Management Inc. KS’s holdings in ExxonMobil were worth $110,881,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Quantum Portfolio Management LLC purchased a new position in ExxonMobil during the 1st quarter valued at $965,932,000. Mercer Global Advisors Inc. ADV grew its position in ExxonMobil by 218.4% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company’s stock valued at $155,696,000 after acquiring an additional 2,546,791 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in ExxonMobil by 18.2% in the 4th 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 acquiring an additional 2,465,410 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in ExxonMobil by 334.4% in 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 during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on XOM. BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the stock a “neutral” rating in a research report on Friday, April 17th. Barclays upped their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. Bank of America upgraded shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective for the company in a report on Tuesday, June 16th. Scotiabank boosted their price objective on shares of ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. Finally, Sanford C. Bernstein dropped their target price on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, ExxonMobil has an average rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Price Performance

Shares of XOM opened at $145.04 on Wednesday. The company has a 50 day moving average price of $145.82 and a 200-day moving average price of $145.93. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The stock has a market capitalization of $601.18 billion, a PE ratio of 24.46, a PEG 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.

ExxonMobil (NYSE:XOM) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 7.57% and a return on equity of 10.24%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.76 earnings per share. Equities analysts predict that ExxonMobil Corporation will post 11.48 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: WTI crude rising above $80 is a favorable setup for ExxonMobil’s upstream business, lifting expectations for stronger margins and cash flow from its oil production operations. Oil Crosses $80 Again: Can ExxonMobil’s Upstream Business Thrive?
• Positive Sentiment: Rising U.S.-Iran tensions have supported energy prices broadly, which tends to benefit ExxonMobil as an integrated oil major with significant crude production exposure. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: ExxonMobil is being highlighted as one of the stocks most likely to benefit if gasoline prices remain elevated, reinforcing the market’s view that the company can capitalize on stronger energy pricing. 5 Stocks Poised to Benefit the Most When US Gas Prices Soar
• Neutral Sentiment: The stock is drawing extra attention from traders and Zacks users, but this appears to reflect increased interest rather than a new company-specific catalyst. Here is What to Know Beyond Why ExxonMobil Holdings Corporation (XOM) is a Trending Stock
• Neutral Sentiment: Broader energy-sector articles note that crude’s rebound is lifting oil stocks generally, which is supportive for XOM but not unique to the company. Shell, BP, and other energy stocks jump as crude oil prices rebound
• Negative Sentiment: There were also market-wide headlines about U.S. strikes and escalating conflict, which can keep volatility elevated and create uncertainty around energy markets even as they support oil prices. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

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.