Beacon Bank & Trust Trims Position in ExxonMobil Corporation $XOM

Beacon Bank & Trust lowered its position in shares of ExxonMobil Corporation (NYSE:XOM) by 11.6% during the first quarter, Holdings Channel reports. The fund owned 41,645 shares of the oil and gas company’s stock after selling 5,454 shares during the quarter. ExxonMobil makes up approximately 1.4% of Beacon Bank & Trust’s investment portfolio, making the stock its 15th biggest position. Beacon Bank & Trust’s holdings in ExxonMobil were worth $7,065,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Portus Wealth Advisors LLC purchased a new stake in ExxonMobil in the 1st quarter valued at about $36,000. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil during the 4th quarter valued at about $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil during the 4th quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of ExxonMobil by 456.1% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 187 shares during the period. Finally, Key Capital Management INC acquired a new stake in shares of ExxonMobil in the fourth quarter worth approximately $28,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

ExxonMobil Price Performance

XOM opened at $138.84 on Friday. The firm has a market cap of $575.47 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 0.55 and a beta of 0.17. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The company’s 50-day moving average price is $146.22 and its 200 day moving average price is $145.38. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

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

ExxonMobil Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given 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 payout ratio is currently 69.48%.

Key Headlines Impacting ExxonMobil

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 recently issued reports on XOM shares. HSBC boosted their target price on shares of ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a report on Friday, March 20th. Zacks Research lowered shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. BNP Paribas Exane set a $165.00 price objective on shares of ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. 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. Finally, Jefferies Financial Group increased their target price on ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.45.

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.