First City Capital Management Inc. lowered its holdings in ExxonMobil Corporation (NYSE:XOM – Free Report) by 16.8% during the first quarter, Holdings Channel reports. The fund owned 44,061 shares of the oil and gas company’s stock after selling 8,873 shares during the quarter. ExxonMobil makes up 4.0% of First City Capital Management Inc.’s holdings, making the stock its 3rd largest holding. First City Capital Management Inc.’s holdings in ExxonMobil were worth $7,475,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in XOM. Berbice Capital Management LLC acquired a new stake in ExxonMobil during the 4th quarter worth about $26,000. Midwest Capital Advisors LLC acquired a new position in shares of ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. lifted 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 valued at $27,000 after buying an additional 187 shares during the period. Key Capital Management INC purchased a new stake in shares of ExxonMobil in the fourth quarter worth about $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in ExxonMobil during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.
ExxonMobil News Roundup
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: The U.S. Supreme Court ruled in ExxonMobil’s favor in a long-running lawsuit over property seized by Cuba, reviving Exxon’s ability to pursue damages and potentially unlocking a legal win that could add value over time. Supreme Court Sides With Exxon in Lawsuit Over Assets Seized by Cuba
- Positive Sentiment: Analysts continue to point to Exxon’s upstream business as well positioned to benefit from still-supportive oil prices, with growth assets in the Permian Basin and Guyana helping underpin production and earnings. Can ExxonMobil’s Upstream Business Thrive at Current Oil Prices?
- Positive Sentiment: ExxonMobil has applied to expand its footprint in Guyana, which would reinforce one of its most important long-term growth areas if approved. Exxon Mobil Applies to Expand Footprint in Guyana
- Neutral Sentiment: Longer-term commentary suggests ExxonMobil may look different by 2040, but it is still expected to remain an integrated oil giant; the note is more about strategic evolution than a near-term catalyst. Prediction: You Won’t Recognize ExxonMobil in 2040
- Negative Sentiment: President Trump said the Department of Justice is investigating ExxonMobil and other major oil companies over elevated natural gas prices, creating headline risk and potential regulatory pressure. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
- Negative Sentiment: Oil prices have eased from recent highs, and the broader energy sector has been under pressure as supply concerns fade, which can weigh on ExxonMobil’s near-term earnings expectations. NOV and Transocean Stocks Trade Down, What You Need To Know
ExxonMobil Trading Up 0.4%
ExxonMobil (NYSE:XOM – Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period in the previous year, the business earned $1.76 EPS. ExxonMobil’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.
ExxonMobil Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. ExxonMobil’s payout ratio is currently 69.48%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on XOM shares. Barclays lifted their price target on ExxonMobil from $163.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. Piper Sandler lowered their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th. Bank of America raised shares of ExxonMobil from a “neutral” rating to a “buy” rating and set a $154.00 target price for the company in a report on Tuesday, June 16th. UBS Group boosted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 price target on shares of ExxonMobil in a report on Tuesday, May 5th. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $165.70.
Get Our Latest Research Report on ExxonMobil
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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