Baker Avenue Asset Management LP Purchases 7,469 Shares of ExxonMobil Corporation $XOM

Baker Avenue Asset Management LP grew its position in ExxonMobil Corporation (NYSE:XOM) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 197,512 shares of the oil and gas company’s stock after buying an additional 7,469 shares during the quarter. Baker Avenue Asset Management LP’s holdings in ExxonMobil were worth $23,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Godfrey Financial Associates Inc. bought a new position in shares of ExxonMobil in the fourth quarter valued at approximately $397,000. IFG Advisory LLC increased its holdings in ExxonMobil by 2.6% in the 4th quarter. IFG Advisory LLC now owns 78,706 shares of the oil and gas company’s stock valued at $9,471,000 after buying an additional 2,005 shares during the period. Thoroughbred Financial Services LLC increased its holdings in ExxonMobil by 1.9% in the 4th quarter. Thoroughbred Financial Services LLC now owns 57,159 shares of the oil and gas company’s stock valued at $6,878,000 after buying an additional 1,052 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in ExxonMobil in the 4th quarter valued at $63,000. Finally, Murphy & Mullick Capital Management Corp increased its holdings in ExxonMobil by 14.2% in the 4th quarter. Murphy & Mullick Capital Management Corp now owns 1,289 shares of the oil and gas company’s stock valued at $155,000 after buying an additional 160 shares during the period. Institutional investors own 61.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on XOM shares. Bank of America boosted their price target on shares of ExxonMobil from $135.00 to $151.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Morgan Stanley reduced their target price on shares of ExxonMobil from $172.00 to $171.00 and set an “overweight” rating on the stock in a research note on Friday, April 17th. Jefferies Financial Group boosted their target price on shares of ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $155.00 target price on shares of ExxonMobil in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, ExxonMobil has a consensus rating of “Moderate Buy” and a consensus target price of $165.55.

Insiders Place Their Bets

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares of the company’s stock, valued at approximately $2,662,782. The trade was a 5.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company’s stock.

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $147.80 on Thursday. The stock has a market capitalization of $612.63 billion, a P/E ratio of 24.92, a P/E/G ratio of 0.65 and a beta of 0.19. ExxonMobil Corporation has a 1-year low of $101.18 and a 1-year high of $176.41. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $155.51 and a two-hundred day moving average price of $139.90.

ExxonMobil (NYSE:XOM) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 EPS. Equities analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be issued 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 is Friday, May 15th. ExxonMobil’s payout ratio is currently 69.48%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…

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.