Moran Wealth Management LLC Has $12.64 Million Stock Holdings in ExxonMobil Corporation $XOM

Moran Wealth Management LLC trimmed its position in shares of ExxonMobil Corporation (NYSE:XOM) by 8.7% during the 1st quarter, HoldingsChannel reports. The fund owned 74,525 shares of the oil and gas company’s stock after selling 7,127 shares during the quarter. Moran Wealth Management LLC’s holdings in ExxonMobil were worth $12,644,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company’s stock worth $9,043,836,000 after buying an additional 1,457,560 shares in the last quarter. Norges Bank bought a new stake in ExxonMobil in the 4th quarter valued at $7,625,063,000. Bank of New York Mellon Corp raised its stake in shares of ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company’s stock valued at $5,608,488,000 after buying an additional 531,362 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of ExxonMobil by 1.0% during the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company’s stock worth $4,963,934,000 after acquiring an additional 445,283 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of ExxonMobil by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company’s stock worth $4,366,655,000 after acquiring an additional 2,660,910 shares during the period. Institutional investors and hedge funds own 61.80% of the company’s stock.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices could lift second-quarter upstream earnings by $3.5 billion to $3.9 billion, reinforcing expectations for a strong Q2 profit beat. Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Crude prices jumped after U.S. strikes on Iranian targets and the collapse of the cease-fire backdrop, which tends to boost integrated oil producers like ExxonMobil through stronger upstream margins. Oil Prices Jump After U.S. Strikes Kharg Island, Trump Says Cease-Fire Is ‘Over’
• Positive Sentiment: ExxonMobil and partners will invest $1 billion in Nigeria’s Usan offshore project, expected to add 40,000 barrels per day of production, supporting longer-term output growth. ExxonMobil to invest $1 billion in Nigeria’s oilfield, regulator says

ExxonMobil Trading Down 0.5%

Shares of ExxonMobil stock opened at $140.91 on Thursday. The stock has a market capitalization of $584.07 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The company has a 50-day simple moving average of $146.80 and a 200 day simple moving average of $145.28. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.18. The firm had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.76 earnings per share. Research analysts expect that ExxonMobil Corporation will post 11.64 earnings per share 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 2.9%. ExxonMobil’s payout ratio is 69.48%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wolfe Research cut shares of ExxonMobil from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, April 21st. 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. HSBC upped 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. TD Cowen dropped their target price on ExxonMobil from $172.00 to $155.00 and set a “buy” rating for the company in a report on Thursday, July 2nd. Finally, Wells Fargo & Company raised their target price on ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Eleven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.70.

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.