Old Peak Finance LLC acquired a new stake in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,605 shares of the oil and gas company’s stock, valued at approximately $675,000. ExxonMobil accounts for about 0.4% of Old Peak Finance LLC’s portfolio, making the stock its 28th largest holding.
Several other hedge funds and other institutional investors have also recently modified their holdings of XOM. Berbice Capital Management LLC purchased a new position in ExxonMobil during the fourth quarter valued at $26,000. Midwest Capital Advisors LLC bought a new position in shares of ExxonMobil in the fourth quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of ExxonMobil by 456.1% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after buying an additional 187 shares during the period. Key Capital Management INC purchased a new position in shares of ExxonMobil during the 4th quarter valued at about $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil during the 4th quarter valued at about $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, VP Darrin L. Talley sold 1,080 shares of the company’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 sale, the vice president directly owned 17,124 shares of the company’s stock, valued at $2,662,782. This represents a 5.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by company insiders.
ExxonMobil Stock Up 2.5%
ExxonMobil (NYSE:XOM – Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analysts’ expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business’s 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. Analysts predict that ExxonMobil Corporation will post 11.49 EPS for the current fiscal year.
ExxonMobil Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. ExxonMobil’s payout ratio is presently 69.48%.
ExxonMobil News Summary
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Oil prices jumped as Iran suspended nuclear talks and Middle East tensions escalated, boosting ExxonMobil along with the broader energy sector. Exxon’s Stock Is on Track to Snap a 7-Day Losing Streak. What’s Lifting the Oil Sector.
- Positive Sentiment: Oil market supply concerns intensified after reports of potential disruptions in the Middle East, which could support higher crude prices and improve ExxonMobil’s upstream earnings. Oil prices jump after US and Iran exchange strikes; Exxon exec warns inventories could reach ‘unheard of’ lows
- Positive Sentiment: ExxonMobil shares gained on a crude rally triggered by Iran suspending talks, with Brent and WTI prices both moving sharply higher. ExxonMobil (XOM) Stock Jumps Nearly 3% on Crude Rally Triggered by Iran Diplomatic Freeze
- Neutral Sentiment: Analysts turned more constructive on ExxonMobil, including a higher price target from Mizuho, which may help sentiment but does not change near-term fundamentals. Analysts Get Bullish on Exxon Mobil (XOM)
- Neutral Sentiment: Some articles framed ExxonMobil as a top oil stock amid the conflict, reinforcing the bullish narrative for XOM but offering no new company-specific catalyst. This is why Exxon Mobil Corporation (XOM) is the Best Oil Stock to Buy amid the US-Iran War
Analysts Set New Price Targets
Several research firms recently issued reports on XOM. BMO Capital Markets reissued a “market perform” rating and issued a $155.00 target price on shares of ExxonMobil in a report on Wednesday, February 4th. Weiss Ratings lowered shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Zacks Research cut shares of ExxonMobil from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Loop Capital set a $123.00 price objective on shares of ExxonMobil in a research report on Tuesday, February 3rd. Finally, BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Ten equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, ExxonMobil presently has a consensus rating of “Hold” and a consensus target price of $165.55.
Read Our Latest Stock Analysis on ExxonMobil
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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