Indiana Trust & Investment Management Co Buys 6,870 Shares of ExxonMobil Corporation $XOM

Indiana Trust & Investment Management Co increased its stake in shares of ExxonMobil Corporation (NYSE:XOM) by 38.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 24,848 shares of the oil and gas company’s stock after acquiring an additional 6,870 shares during the period. ExxonMobil accounts for about 1.3% of Indiana Trust & Investment Management Co’s holdings, making the stock its 17th largest position. Indiana Trust & Investment Management Co’s holdings in ExxonMobil were worth $4,216,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in XOM. Impact Partnership Wealth LLC grew its holdings in ExxonMobil by 0.6% during the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after acquiring an additional 67 shares during the last quarter. Cardinal Strategic Wealth Guidance raised its stake in shares of ExxonMobil by 1.9% in the first quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after acquiring an additional 68 shares during the last quarter. ICW Investment Advisors LLC raised its stake in shares of ExxonMobil by 0.3% in the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after acquiring an additional 69 shares during the last quarter. Swisher Financial Concepts Inc. lifted its position in shares of ExxonMobil by 0.3% during the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock worth $4,649,000 after purchasing an additional 69 shares in the last quarter. Finally, Fortis Capital Management LLC grew its stake in shares of ExxonMobil by 2.0% during the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company’s stock valued at $434,000 after purchasing an additional 70 shares during the last quarter. 61.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

XOM has been the subject of several research analyst reports. TD Cowen dropped their price objective on shares of ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, July 2nd. HSBC increased their price objective on ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research report on Friday, March 20th. Mizuho lowered their target price on ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday. Piper Sandler dropped their target price on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating for the company in a research report on Thursday, April 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.45.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM’s Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $137.31 on Friday. The firm has a fifty day moving average of $146.53 and a two-hundred day moving average of $145.43. The stock has a market capitalization of $569.12 billion, a price-to-earnings ratio of 23.15, a PEG ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (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 business had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. During the same period last year, the company earned $1.76 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that ExxonMobil Corporation will post 11.64 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued 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 yield of 3.0%. ExxonMobil’s dividend payout ratio (DPR) is 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.