Kingsview Wealth Management LLC raised its position in ExxonMobil Corporation (NYSE:XOM – Free Report) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 166,995 shares of the oil and gas company’s stock after purchasing an additional 13,524 shares during the quarter. Kingsview Wealth Management LLC’s holdings in ExxonMobil were worth $20,096,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of XOM. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil in the 4th quarter worth about $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil in the 4th quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of ExxonMobil by 456.1% in 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 purchasing an additional 187 shares during the period. Key Capital Management INC purchased a new position in shares of ExxonMobil in the 4th quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil in the 4th quarter worth about $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares in the company, valued at $2,662,782. This trade represents a 5.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.
Key Headlines Impacting ExxonMobil
- Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
- Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
- Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
- Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
- Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
- Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip…
ExxonMobil Price Performance
XOM stock opened at $147.80 on Thursday. 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 Corporation has a 1 year low of $101.18 and a 1 year high of $176.41. The firm has a market cap of $612.63 billion, a P/E ratio of 24.92, a price-to-earnings-growth ratio of 0.65 and a beta of 0.19. The stock has a 50-day simple moving average of $155.51 and a 200-day simple moving average of $139.90.
ExxonMobil (NYSE:XOM – Get Free Report) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $81.13 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.
ExxonMobil Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s dividend payout ratio (DPR) is 69.48%.
Wall Street Analysts Forecast Growth
XOM has been the topic of a number of research reports. Weiss Ratings downgraded ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Sanford C. Bernstein cut their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a report on Monday, May 11th. HSBC raised their price objective on ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a report on Friday, March 20th. Jefferies Financial Group increased their target price on ExxonMobil from $178.00 to $184.00 and gave the company a “buy” rating in a research note on Thursday, April 9th. Finally, Zacks Research lowered ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $165.55.
View Our Latest Analysis on XOM
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.
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