Van ECK Associates Corp Has $25.09 Million Stock Holdings in ExxonMobil Corporation $XOM

Van ECK Associates Corp trimmed its position in ExxonMobil Corporation (NYSE:XOM) by 95.4% during the second quarter, HoldingsChannel.com reports. The fund owned 183,518 shares of the oil and gas company’s stock after selling 3,793,895 shares during the quarter. Van ECK Associates Corp’s holdings in ExxonMobil were worth $25,091,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in XOM. Nissay Asset Management Corp Japan increased its stake in shares of ExxonMobil by 2.7% in the 2nd quarter. Nissay Asset Management Corp Japan now owns 563,430 shares of the oil and gas company’s stock valued at $77,032,000 after purchasing an additional 14,759 shares during the last quarter. Navellier & Associates Inc. boosted its stake in ExxonMobil by 3.6% in the second quarter. Navellier & Associates Inc. now owns 95,411 shares of the oil and gas company’s stock valued at $13,045,000 after buying an additional 3,337 shares in the last quarter. Field & Main Bank grew its position in ExxonMobil by 0.6% in the second quarter. Field & Main Bank now owns 23,408 shares of the oil and gas company’s stock valued at $3,200,000 after acquiring an additional 130 shares during the last quarter. Kahn Brothers Group Inc. bought a new position in ExxonMobil in the second quarter valued at about $2,414,000. Finally, Redwood Investment Management LLC acquired a new position in ExxonMobil during the second quarter worth about $1,950,000. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Price Performance

ExxonMobil stock opened at $156.88 on Monday. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. 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 stock has a market capitalization 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 stock’s 50 day moving average price is $150.53 and its two-hundred day moving average price is $151.88.

ExxonMobil (NYSE:XOM) last issued its earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $109.94 billion. During the same period in the previous year, the company earned $1.64 earnings per share. On average, equities analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on XOM shares. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a report on Wednesday, July 8th. Morgan Stanley upped their price target on shares of ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. TD Cowen boosted their price objective on ExxonMobil from $155.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Barclays dropped their target price on ExxonMobil from $182.00 to $177.00 and set an “overweight” rating for the company in a research report on Monday, August 17th. Finally, Freedom Capital raised ExxonMobil from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Ten research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $166.10.

ExxonMobil News Roundup

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

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.