Burney Co. Trims Position in ExxonMobil Corporation $XOM

Burney Co. lessened its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 7.3% in the first quarter, Holdings Channel.com reports. The fund owned 85,991 shares of the oil and gas company’s stock after selling 6,785 shares during the period. Burney Co.’s holdings in ExxonMobil were worth $14,589,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Unison Advisors LLC boosted its holdings in ExxonMobil by 0.8% in the first quarter. Unison Advisors LLC now owns 22,373 shares of the oil and gas company’s stock valued at $3,796,000 after acquiring an additional 184 shares in the last quarter. Strata Wealth Advisors LLC increased its position in ExxonMobil by 1.8% during the 1st quarter. Strata Wealth Advisors LLC now owns 6,465 shares of the oil and gas company’s stock valued at $1,097,000 after purchasing an additional 113 shares during the period. Core Wealth Management Inc. bought a new position in ExxonMobil in the 1st quarter worth $214,000. Greatmark Investment Partners Inc. raised its holdings in ExxonMobil by 3.3% in the 1st quarter. Greatmark Investment Partners Inc. now owns 41,927 shares of the oil and gas company’s stock worth $7,113,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Canvas Wealth Advisors LLC lifted its position in shares of ExxonMobil by 4.4% in the 1st quarter. Canvas Wealth Advisors LLC now owns 4,933 shares of the oil and gas company’s stock worth $837,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil said it is expanding in Nigeria with a $1 billion Usan Infill Project, which is expected to restore drilling activity there and add about 40,000 barrels per day within 18 months. Article Title
• Positive Sentiment: Analysts say strong commodity tailwinds, including higher crude prices and margin gains, could lift XOM’s second-quarter results and support near-term earnings strength. Article Title
• Positive Sentiment: Oil-market commentary suggests major U.S. producers, including ExxonMobil, could benefit financially from geopolitical disruption and higher crude prices, without needing to materially increase drilling right away. Article Title
• Neutral Sentiment: Some market coverage says XOM’s valuation looks reasonable on earnings, but the stock may be stretched after a large multi-year run, which could limit upside if expectations get too high. Article Title
• Negative Sentiment: Mizuho lowered its price target on ExxonMobil to $170 and kept a neutral stance, signaling less aggressive upside expectations from one Wall Street firm. Article Title
• Negative Sentiment: Recent trading commentary noted XOM underperformed the broader market in a down session, reflecting investor caution around energy stocks when crude prices soften. Article Title

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Wells Fargo & Company increased their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. DZ Bank upgraded shares of ExxonMobil to a “strong-buy” rating in a report on Monday, July 6th. UBS Group lifted their price objective on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the stock a “neutral” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil has a consensus rating of “Moderate Buy” and a consensus target price of $164.45.

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $138.84 on Friday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The firm has a market capitalization of $575.47 billion, a P/E ratio of 23.41, a P/E/G ratio of 0.55 and a beta of 0.17. 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 fifty day simple moving average of $146.22 and a two-hundred day simple moving average of $145.38.

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. The firm had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.76 EPS. On average, equities analysts forecast that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 3.0%. ExxonMobil’s payout ratio is presently 69.48%.

ExxonMobil 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.