HB Wealth Management LLC Raises Holdings in ExxonMobil Corporation $XOM

HB Wealth Management LLC increased its position in shares of ExxonMobil Corporation (NYSE:XOM) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 348,977 shares of the oil and gas company’s stock after buying an additional 20,086 shares during the period. HB Wealth Management LLC’s holdings in ExxonMobil were worth $59,207,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock valued at $9,043,836,000 after purchasing an additional 1,457,560 shares in the last quarter. Norges Bank bought a new position in ExxonMobil in the fourth quarter worth approximately $7,625,063,000. Bank of New York Mellon Corp raised its stake in ExxonMobil by 1.2% in the fourth quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock worth $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp lifted its holdings in ExxonMobil by 1.0% during the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after buying an additional 445,283 shares during the period. Finally, Franklin Resources Inc. boosted its position in ExxonMobil by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock valued at $4,366,655,000 after acquiring an additional 2,660,910 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Stock Down 0.5%

XOM stock opened at $140.91 on Thursday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The company has a market cap of $584.07 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a fifty day moving average price of $146.80 and a 200 day moving average price of $145.28.

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, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the business posted $1.76 earnings per share. ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Scotiabank lifted their price target on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Barclays raised their price objective on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Morgan Stanley reduced their target price on shares of ExxonMobil from $171.00 to $168.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wells Fargo & Company lifted their price objective on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.