6,699 Shares in ExxonMobil Corporation $XOM Bought by Redstone Wealth Management LLC

Key Points

• Redstone Wealth Management opened a new ExxonMobil position in the fourth quarter, buying 6,699 shares valued at about $806,000. ExxonMobil now ranks as its 19th-largest holding and makes up roughly 0.6% of the portfolio.
• ExxonMobil recently reported better-than-expected earnings, posting $1.16 per share on revenue of $83.16 billion, and it also announced a quarterly dividend of $1.03 per share payable June 10. The dividend implies a 2.7% annual yield.
• Key catalysts for the stock include a preliminary gas-development deal with QatarEnergy and Egypt, possible renewed access to oil production in Venezuela, and supportive crude prices above $95 per barrel. At the same time, governance disputes with proxy advisers could add some near-term pressure.

Redstone Wealth Management LLC bought a new position in ExxonMobil Corporation (NYSE:XOM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,699 shares of the oil and gas company's stock, valued at approximately $806,000. ExxonMobil accounts for approximately 0.6% of Redstone Wealth Management LLC's holdings, making the stock its 19th biggest position.

Several other large investors have also made changes to their positions in the company. Peoples Bank OH raised its position in shares of ExxonMobil by 0.5% in the 4th quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company's stock worth $1,804,000 after buying an additional 71 shares during the period. Paulson Wealth Management Inc. raised its position in shares of ExxonMobil by 1.0% in the 4th quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company's stock worth $887,000 after buying an additional 72 shares during the period. Peirce Capital Management LLC raised its position in ExxonMobil by 1.7% in the fourth quarter. Peirce Capital Management LLC now owns 4,292 shares of the oil and gas company's stock valued at $516,000 after purchasing an additional 72 shares during the period. MOKAN Wealth Management Inc. raised its position in ExxonMobil by 1.3% in the fourth quarter. MOKAN Wealth Management Inc. now owns 5,903 shares of the oil and gas company's stock valued at $711,000 after purchasing an additional 77 shares during the period. Finally, Field & Main Bank raised its position in ExxonMobil by 0.3% in the fourth quarter. Field & Main Bank now owns 23,393 shares of the oil and gas company's stock valued at $2,815,000 after purchasing an additional 78 shares during the period. 61.80% of the stock is owned by hedge funds and other institutional investors.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil's Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

ExxonMobil Trading Down 0.1%

NYSE:XOM opened at $154.82 on Monday. The business's 50-day moving average is $155.79 and its two-hundred day moving average is $139.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. The firm has a market capitalization of $641.71 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 0.68 and a beta of 0.19. ExxonMobil Corporation has a 12 month low of $101.18 and a 12 month high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company's revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.76 earnings per share. Research analysts predict that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a dividend of $1.03 per share. The ex-dividend date is Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Analysts Set New Price Targets

Several research firms have commented on XOM. Zacks Research raised ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Jefferies Financial Group raised their price objective on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Loop Capital set a $123.00 price objective on ExxonMobil in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. raised their price objective on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Finally, Morgan Stanley cut their price objective on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating on the stock in a research report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.95.

Insider Buying and Selling at ExxonMobil

In other news, VP Darrin L. Talley sold 1,080 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares in the company, valued at $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.03% of the stock is owned by corporate insiders.

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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