Adell Harriman & Carpenter Inc. Reduces Stock Position in ExxonMobil Corporation $XOM

Adell Harriman & Carpenter Inc. lessened its stake in ExxonMobil Corporation (NYSE:XOM) by 2.9% in the first quarter, HoldingsChannel reports. The firm owned 129,903 shares of the oil and gas company’s stock after selling 3,931 shares during the period. ExxonMobil makes up approximately 1.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 24th largest holding. Adell Harriman & Carpenter Inc.’s holdings in ExxonMobil were worth $22,040,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in ExxonMobil during the 4th quarter valued at approximately $7,625,063,000. Quantum Portfolio Management LLC bought a new position in shares of ExxonMobil during the 1st quarter valued at about $965,932,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 valued at $1,925,119,000 after purchasing an additional 2,465,410 shares in the last quarter. Van ECK Associates Corp grew its position 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 valued at $368,541,000 after purchasing an additional 2,357,467 shares in the last quarter. Finally, Diamant Asset Management Inc. increased its holdings in shares of 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 worth $370,514,000 after purchasing an additional 2,171,322 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company’s stock.

ExxonMobil Stock Performance

NYSE:XOM opened at $147.56 on Friday. The stock’s fifty day moving average is $145.78 and its 200 day moving average is $146.31. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The firm has a market capitalization of $611.62 billion, a PE ratio of 24.88, a PEG ratio of 0.61 and a beta of 0.17. 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 data 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 net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the firm earned $1.76 earnings per share. ExxonMobil’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that ExxonMobil Corporation will post 11.38 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s payout ratio is currently 69.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Bank of America raised ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 price objective on the stock in a research note on Tuesday, June 16th. Scotiabank upped their price objective on ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. UBS Group increased their target price on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, Weiss Ratings cut shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.45.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil’s Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation (NYSE:XOM) Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

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.