Birmingham Capital Management Co. Inc. AL purchased a new position in ExxonMobil Corporation (NYSE:XOM – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,162 shares of the oil and gas company’s stock, valued at approximately $4,944,000. ExxonMobil comprises about 1.9% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 14th largest holding.
A number of other hedge funds also recently made changes to their positions in the stock. Impact Partnership Wealth LLC boosted its holdings in shares of ExxonMobil by 0.6% in the 1st quarter. Impact Partnership Wealth LLC now owns 12,017 shares of the oil and gas company’s stock worth $2,039,000 after purchasing an additional 67 shares in the last quarter. Cardinal Strategic Wealth Guidance lifted its position in ExxonMobil by 1.9% in the 1st quarter. Cardinal Strategic Wealth Guidance now owns 3,720 shares of the oil and gas company’s stock worth $631,000 after buying an additional 68 shares during the last quarter. Core Wealth Advisors Inc. lifted its position in ExxonMobil by 1.0% in the 1st quarter. Core Wealth Advisors Inc. now owns 6,805 shares of the oil and gas company’s stock worth $1,155,000 after buying an additional 68 shares during the last quarter. ICW Investment Advisors LLC boosted its stake in ExxonMobil by 0.3% in the fourth quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company’s stock worth $3,043,000 after buying an additional 69 shares in the last quarter. Finally, Swisher Financial Concepts Inc. grew its position in ExxonMobil by 0.3% during the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company’s stock valued at $4,649,000 after acquiring an additional 69 shares during the last quarter. 61.80% of the stock is owned by institutional investors.
ExxonMobil Stock Down 1.5%
Shares of ExxonMobil stock opened at $158.18 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The stock has a market capitalization of $655.65 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 0.63 and a beta of 0.17. The company’s 50 day moving average price is $149.77 and its 200-day moving average price is $151.79.
ExxonMobil Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil’s dividend payout ratio is 53.02%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of ExxonMobil from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 4th. Citigroup reaffirmed a “neutral” rating on shares of ExxonMobil in a report on Wednesday, July 8th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 target price on shares of ExxonMobil in a research report on Tuesday, May 5th. Mizuho lowered their price target on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Finally, Sanford C. Bernstein reduced their price objective on ExxonMobil from $195.00 to $182.00 and set an “outperform” rating on the stock in a research note on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $166.10.
ExxonMobil News Summary
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Permian growth supports production outlook. ExxonMobil’s Permian Basin output reached a record, while planned expansion and greater drilling automation could provide an important source of upstream volume growth. Can ExxonMobil’s Permian Growth Keep Driving Upstream Momentum?
- Positive Sentiment: Analysts and stock roundups remain constructive. Recent commentary describes XOM as better positioned than some peers and highlights potential upside from strong oil prices, its integrated business, and comparatively attractive valuation. Morgan Stanley also sees a possibility that the shares eventually surpass their record high. Morgan Stanley Sees ExxonMobil Breaking its Record High
- Positive Sentiment: Potential strategic opportunities. Reports that ExxonMobil may be interested in assets associated with Shell’s potential U.S. and chemicals divestitures could create acquisition or portfolio-optimization opportunities, although no transaction has been confirmed. Reports: Shell considers sales of US HQ and chemicals arm
- Neutral Sentiment: Dividend remains dependable but growth is moderating. ExxonMobil has raised its dividend for 43 consecutive years, with a current quarterly payout of $1.03 per share. However, recent increases of roughly 3% to 4.5% are substantially smaller than historical hikes, limiting income-growth appeal. ExxonMobil Dividend Growth Article
- Negative Sentiment: Lower oil prices are the immediate pressure. The market is treating new sanctions and Hormuz developments as negotiating leverage rather than an imminent supply threat. That weakens crude prices and raises concern that energy shares may give back part of their geopolitical gains. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
ExxonMobil 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.
Featured Stories
- Five stocks we like better than ExxonMobil
- Williams-Sonoma’s Quarter Gave Bulls More Than Just a Beat-and-Raise
- Alcoa’s Gallium Project Opens a New Door Beyond Aluminum
- Oura’s $16 Billion IPO Could Put a New Price on Wearable Tech
- Can Tesla’s Flying Roadster Distract From Its Real Risks?
Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM – Free Report).
Receive News & Ratings for ExxonMobil Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ExxonMobil and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.png){kind=logo}
