Destination Wealth Management Buys 6,646 Shares of ExxonMobil Corporation $XOM

Destination Wealth Management lifted its stake in ExxonMobil Corporation (NYSE:XOM) by 24.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,708 shares of the oil and gas company’s stock after buying an additional 6,646 shares during the period. Destination Wealth Management’s holdings in ExxonMobil were worth $4,056,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in XOM. Eagle Capital Management LLC lifted its stake in shares of ExxonMobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company’s stock valued at $337,000 after buying an additional 376 shares during the period. Caxton Associates LLP bought a new position in ExxonMobil during the first quarter worth about $305,000. Sivia Capital Partners LLC lifted its stake in ExxonMobil by 1.9% during the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company’s stock worth $1,211,000 after purchasing an additional 207 shares during the period. United Bank lifted its stake in ExxonMobil by 2.8% during the second quarter. United Bank now owns 21,821 shares of the oil and gas company’s stock worth $2,352,000 after purchasing an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. lifted its stake in ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company’s stock worth $3,957,000 after purchasing an additional 5,443 shares during the period. Institutional investors own 61.80% of the company’s stock.

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $155.50, for a total value of $167,940.00. Following the completion of the transaction, the vice president owned 17,124 shares in the company, valued at approximately $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.03% of the company’s stock.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

ExxonMobil Stock Performance

NYSE:XOM opened at $146.80 on Friday. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The firm has a 50 day moving average of $152.09 and a 200-day moving average of $142.36. 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 $608.47 billion, a P/E ratio of 24.76, a price-to-earnings-growth ratio of 0.62 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last posted its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analysts’ expectations of $81.13 billion. During the same quarter in the previous year, the company posted $1.76 earnings per share. ExxonMobil’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced 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 was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil’s payout ratio is 69.48%.

Analyst Upgrades and Downgrades

XOM has been the subject of a number of analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Barclays raised their price target on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Morgan Stanley cut their price target on shares of ExxonMobil from $172.00 to $171.00 and set an “overweight” rating for the company in a research note on Friday, April 17th. Wells Fargo & Company raised their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, Scotiabank raised their price target on shares of ExxonMobil from $128.00 to $163.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Ten equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $165.55.

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.