Evolve Private Wealth LLC Makes New Investment in ExxonMobil Corporation $XOM

Evolve Private Wealth LLC bought a new position in ExxonMobil Corporation (NYSE:XOM) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 67,149 shares of the oil and gas company’s stock, valued at approximately $8,081,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of XOM. Berbice Capital Management LLC purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased 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 worth $27,000 after buying an additional 187 shares during the last quarter. Key Capital Management INC purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $28,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of ExxonMobil in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. HSBC boosted their target price on ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Friday, March 20th. BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the company a “neutral” rating in a research note on Friday, April 17th. Weiss Ratings downgraded ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. upped their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Piper Sandler dropped their price objective on ExxonMobil from $186.00 to $182.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Eleven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $165.70.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, saying the recent pullback has made the stock look undervalued. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil advanced growth plans in Guyana, applying for an additional 35-well exploration campaign in the Stabroek block, which could support long-term production growth. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Positive Sentiment: Exxon signed a preliminary agreement to supply LNG to South Africa’s first planned import terminal, adding another international gas opportunity and reinforcing its LNG expansion strategy. Exxon Mobil signs deal to supply South Africa’s first planned LNG terminal
• Neutral Sentiment: Analysts and market commentary continue to describe ExxonMobil as a relatively resilient, low-cost energy major, with some brokerages maintaining a Moderate Buy view despite oil-price volatility. Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
• Neutral Sentiment: Sector-wide energy shares are weaker as Brent and WTI fall on hopes for reduced Middle East supply risk, which is limiting upside for ExxonMobil in the near term. Sector Update: Energy Stocks Lower Wednesday Afternoon
• Negative Sentiment: Oil-market headlines tied to U.S.-Iran peace hopes and a possible reopening of the Strait of Hormuz have pressured crude prices, which can weigh on ExxonMobil’s earnings expectations and stock performance. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Some recent commentary is explicitly warning investors away from XOM, highlighting concerns tied to the oil-price backdrop and valuation versus alternatives. 2 reasons to avoid XOM and 1 stock to buy instead

ExxonMobil Price Performance

ExxonMobil stock opened at $140.64 on Thursday. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. 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 business’s 50 day simple moving average is $150.85 and its 200 day simple moving average is $143.10. The company has a market cap of $582.93 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 0.60 and a beta of 0.16.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating 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 business had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the prior year, the business earned $1.76 earnings per share. ExxonMobil’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts forecast that ExxonMobil Corporation will post 11.8 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given 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 2.9%. ExxonMobil’s dividend payout ratio is currently 69.48%.

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.