HB Wealth Management LLC Acquires 20,086 Shares of ExxonMobil Corporation $XOM

HB Wealth Management LLC increased its holdings in ExxonMobil Corporation (NYSE:XOM) by 6.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,977 shares of the oil and gas company’s stock after purchasing an additional 20,086 shares during the period. HB Wealth Management LLC’s holdings in ExxonMobil were worth $59,207,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Capital Investment Advisors LLC raised its stake in ExxonMobil by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company’s stock valued at $27,857,000 after purchasing an additional 14,233 shares in the last quarter. Roberts Capital Advisors LLC purchased a new position in ExxonMobil in the third quarter worth about $1,240,000. Sanctuary Advisors LLC increased its stake in ExxonMobil by 2.3% during the fourth quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company’s stock worth $126,166,000 after acquiring an additional 23,668 shares during the last quarter. Clear Trail Advisors LLC bought a new stake in ExxonMobil during the fourth quarter worth approximately $28,728,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in ExxonMobil during the third quarter valued at approximately $67,907,000. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices could lift second-quarter upstream earnings by $3.5 billion to $3.9 billion, reinforcing expectations for a strong Q2 profit beat. Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Crude prices jumped after U.S. strikes on Iranian targets and the collapse of the cease-fire backdrop, which tends to boost integrated oil producers like ExxonMobil through stronger upstream margins. Oil Prices Jump After U.S. Strikes Kharg Island, Trump Says Cease-Fire Is ‘Over’
• Positive Sentiment: ExxonMobil and partners will invest $1 billion in Nigeria’s Usan offshore project, expected to add 40,000 barrels per day of production, supporting longer-term output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

ExxonMobil Price Performance

XOM opened at $140.91 on Thursday. The business has a fifty day moving average of $146.80 and a 200 day moving average of $145.28. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market cap of $584.07 billion, a P/E ratio of 23.76, a PEG ratio of 0.61 and a beta of 0.17.

ExxonMobil (NYSE:XOM) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter last year, the firm posted $1.76 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ExxonMobil Corporation will post 11.64 EPS for the current year.

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s payout ratio is 69.48%.

Analyst Upgrades and Downgrades

XOM has been the topic of several analyst reports. Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Mizuho lifted their price objective on shares of ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. Morgan Stanley reduced their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Sanford C. Bernstein dropped their price target on shares of ExxonMobil from $195.00 to $182.00 and set an “outperform” rating for the company in a research note on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.70.

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.