Allspring Global Investments Holdings LLC Cuts Position in ExxonMobil Corporation $XOM

Allspring Global Investments Holdings LLC decreased its position in ExxonMobil Corporation (NYSE:XOM) by 10.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 962,709 shares of the oil and gas company’s stock after selling 113,473 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in ExxonMobil were worth $154,784,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of ExxonMobil in the 4th quarter valued at $7,625,063,000. Quantum Portfolio Management LLC purchased a new stake in shares of ExxonMobil during the 1st quarter worth $965,932,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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. Van ECK Associates Corp grew its stake in shares of 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. Finally, Diamant Asset Management Inc. increased its holdings 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 buying an additional 2,171,322 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on XOM. TD Cowen cut their price target on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, July 2nd. JPMorgan Chase & Co. upped their price objective on ExxonMobil from $140.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Zacks Research downgraded ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group raised their target price on ExxonMobil from $171.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Morgan Stanley decreased their target price on ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a research note on Monday, June 29th. One 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’s stock. According to data from MarketBeat.com, ExxonMobil presently has an average rating of “Moderate Buy” and an average target price of $164.45.

ExxonMobil Stock Up 0.8%

Shares of NYSE XOM opened at $148.50 on Tuesday. The stock has a market cap of $615.50 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The business has a 50-day moving average price of $145.76 and a 200 day moving average price of $146.68.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that ExxonMobil Corporation will post 11.38 earnings per share for the current year.

ExxonMobil Announces Dividend

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

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.