State of Michigan Retirement System Has $185.22 Million Position in ExxonMobil Corporation $XOM

State of Michigan Retirement System lessened its position in ExxonMobil Corporation (NYSE:XOM) by 1.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,091,718 shares of the oil and gas company’s stock after selling 12,300 shares during the period. ExxonMobil makes up about 1.0% of State of Michigan Retirement System’s investment portfolio, making the stock its 16th biggest holding. State of Michigan Retirement System’s holdings in ExxonMobil were worth $185,221,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of ExxonMobil in the 4th quarter valued at $7,625,063,000. Quantum Portfolio Management LLC acquired a new stake in ExxonMobil during the 1st quarter worth $965,932,000. 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 worth $1,925,119,000 after acquiring an additional 2,465,410 shares in the last quarter. Van ECK Associates Corp lifted 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 acquiring an additional 2,357,467 shares in the last quarter. Finally, Diamant Asset Management Inc. grew its stake in ExxonMobil by 17,312.4% in the first quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company’s stock valued at $370,514,000 after acquiring an additional 2,171,322 shares during the period. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on XOM. Wells Fargo & Company increased their price target on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. DZ Bank upgraded ExxonMobil to a “strong-buy” rating in a report on Monday, July 6th. Sanford C. Bernstein decreased their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research report on Monday, May 11th. Scotiabank increased their target price on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $164.45.

Trending Headlines about ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil’s Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation (NYSE:XOM) Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

ExxonMobil Price Performance

XOM stock opened at $147.56 on Friday. The stock has a 50-day moving average price of $145.78 and a two-hundred day moving average price of $146.31. The stock has a market cap of $611.62 billion, a PE ratio of 24.88, a price-to-earnings-growth ratio of 0.60 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 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. 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 company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.76 EPS. Equities analysts forecast that ExxonMobil Corporation will post 11.43 EPS for the current fiscal year.

ExxonMobil Announces Dividend

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

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.