Symphony Financial Ltd. Co. cut its stake in shares of ExxonMobil Corporation (NYSE:XOM – Free Report) by 12.0% in the second quarter, Holdings Channel reports. The firm owned 64,807 shares of the oil and gas company’s stock after selling 8,849 shares during the quarter. ExxonMobil accounts for approximately 1.0% of Symphony Financial Ltd. Co.’s holdings, making the stock its 26th biggest holding. Symphony Financial Ltd. Co.’s holdings in ExxonMobil were worth $8,822,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Eagle Capital Management LLC boosted its holdings in ExxonMobil by 15.3% during the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock worth $337,000 after buying an additional 376 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of ExxonMobil in the 1st quarter valued at about $305,000. Sivia Capital Partners LLC raised its position in shares of ExxonMobil by 1.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock valued at $1,211,000 after acquiring an additional 207 shares during the period. United Bank raised its position in shares of ExxonMobil by 2.8% in the 2nd quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock valued at $2,352,000 after acquiring an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. boosted its stake in ExxonMobil by 17.4% during the 2nd quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after acquiring an additional 5,443 shares during the last quarter. Institutional investors own 61.80% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on XOM. DZ Bank downgraded shares of ExxonMobil from a “buy” rating to a “hold” rating and set a $156.00 target price for the company. in a research note on Tuesday, August 4th. Wells Fargo & Company reissued an “overweight” rating and set a $182.00 price target on shares of ExxonMobil in a research report on Monday, August 3rd. Piper Sandler started coverage on shares of ExxonMobil in a report on Thursday, July 23rd. They issued a “neutral” rating and a $158.00 price target for the company. Mizuho lowered their price objective on shares of ExxonMobil from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Morgan Stanley raised their price objective on ExxonMobil from $168.00 to $177.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $166.10.
Key ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: Potential return to Venezuela: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially giving XOM access to large oil reserves and a long-term production opportunity after its exit from the country in 2007. The company reportedly sent a technical team to evaluate opportunities earlier this year. Trump says Exxon is going in Venezuela
- Positive Sentiment: Higher oil prices are supporting the sector: Renewed conflict involving Iran and ongoing shipping constraints around the Strait of Hormuz pushed crude prices higher, improving the near-term earnings outlook for integrated producers such as ExxonMobil. Energy stocks and related ETFs advanced alongside the commodity rally. Oil prices rise amid Iran conflict
- Positive Sentiment: Possible chemicals expansion: ExxonMobil is reportedly among bidders for Shell’s U.S. chemicals assets, potentially for about $8 billion. Acquiring the plants could deepen XOM’s chemicals presence, although the purchase price and returns remain uncertain. ExxonMobil bid for Shell chemicals assets
ExxonMobil Stock Performance
Shares of XOM stock opened at $164.55 on Wednesday. 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 company’s 50 day moving average price is $151.47 and its two-hundred day moving average price is $152.01. The company has a market capitalization of $682.05 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.99 and a beta of 0.17.
ExxonMobil (NYSE:XOM – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The company had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the prior year, the company earned $1.64 EPS. On average, analysts expect that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.
ExxonMobil Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 17th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 17th. ExxonMobil’s payout ratio is 53.02%.
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.
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