Formidable Asset Management LLC decreased its stake in ExxonMobil Corporation (NYSE:XOM – Free Report) by 22.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 39,980 shares of the oil and gas company’s stock after selling 11,734 shares during the period. ExxonMobil makes up 1.1% of Formidable Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Formidable Asset Management LLC’s holdings in ExxonMobil were worth $6,783,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in XOM. Berbice Capital Management LLC acquired a new stake in ExxonMobil during the 4th quarter valued at approximately $26,000. Midwest Capital Advisors LLC acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. boosted its stake 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 purchasing an additional 187 shares during the last quarter. Key Capital Management INC bought a new stake in shares of ExxonMobil in the 4th quarter valued at $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil during the fourth quarter worth $32,000. 61.80% of the stock is currently owned by institutional investors.
ExxonMobil Trading Up 0.6%
NYSE:XOM opened at $137.03 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $567.99 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.57 and a beta of 0.17. The firm has a fifty day simple moving average of $147.62 and a two-hundred day simple moving average of $144.65. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41.
ExxonMobil Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. ExxonMobil’s payout ratio is currently 69.48%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on XOM. Mizuho lifted their target price on shares of ExxonMobil from $159.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Wolfe Research downgraded ExxonMobil from an “outperform” rating to a “peer perform” rating in a report on Tuesday, April 21st. Barclays increased their price target on ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. HSBC boosted their price objective on ExxonMobil from $135.00 to $158.00 and gave the company a “hold” rating in a research note on Friday, March 20th. Finally, TD Cowen cut their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, ExxonMobil has a consensus rating of “Moderate Buy” and an average target price of $164.70.
View Our Latest Analysis on ExxonMobil
Key ExxonMobil News
Here are the key news stories impacting ExxonMobil this week:
- Positive Sentiment: TD Cowen trimmed its price target on ExxonMobil to $155 from $172 but kept a buy rating, implying upside from current levels and signaling continued analyst confidence in the stock. Benzinga report
- Positive Sentiment: Erste Group Bank raised its FY2026 and FY2027 earnings estimates for ExxonMobil, which can help reinforce investor expectations for solid profitability.
- Positive Sentiment: ExxonMobil completed its redomiciliation and holding company transition from New Jersey to Texas, and shareholders approved the move while the company kept its XOM ticker. Yahoo Finance article
- Positive Sentiment: ExxonMobil advanced its Cyprus gas export plan with QatarEnergy, adding to its long-term growth and LNG-related opportunities. Yahoo Finance article
- Neutral Sentiment: Analysts highlighted that ExxonMobil’s Permian upstream business may still hold up even if oil stays below $70, suggesting operations can remain resilient near current price levels. Zacks article
- Neutral Sentiment: Technical analysis suggested XOM may be approaching support near its 200-day moving average, which could help stabilize the stock, but the broader energy sector was also weaker. Yahoo Finance sector update
- Negative Sentiment: Oil prices fell to a four-month low, creating a headwind for ExxonMobil and other integrated oil producers because weaker crude can pressure upstream earnings and sentiment. TheStreet article
ExxonMobil Company 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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