7,035 Shares in ExxonMobil Corporation $XOM Acquired by Connecticut Capital Management Group LLC

Key Points

• Connecticut Capital Management Group LLC disclosed a new position in ExxonMobil, buying 7,035 shares valued at about $847,000 in the fourth quarter. ExxonMobil now makes up 0.8% of the firm’s portfolio and is its 29th-largest holding.
• ExxonMobil reported better-than-expected first-quarter earnings, with EPS of $1.16 versus the $0.98 estimate and revenue of $83.16 billion versus $81.13 billion expected. Analysts currently forecast full-year EPS of 11.49.
• The company announced a quarterly dividend of $1.03 per share, or $4.12 annualized, for a yield of 2.8%. Meanwhile, shares were down 1.3% in Thursday trading amid broader weakness in energy stocks.

Connecticut Capital Management Group LLC acquired a new position in ExxonMobil Corporation (NYSE:XOM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,035 shares of the oil and gas company's stock, valued at approximately $847,000. ExxonMobil comprises 0.8% of Connecticut Capital Management Group LLC's investment portfolio, making the stock its 29th largest holding.

Several other institutional investors also recently modified their holdings of the stock. Northern Trust Corp increased its position in shares of ExxonMobil by 1.0% in the third quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock worth $4,963,934,000 after purchasing an additional 445,283 shares during the last quarter. Franklin Resources Inc. increased its position in shares of ExxonMobil by 7.4% in the third quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock worth $4,366,655,000 after purchasing an additional 2,660,910 shares during the last quarter. Capital Research Global Investors increased its position in shares of ExxonMobil by 0.4% in the third quarter. Capital Research Global Investors now owns 33,620,927 shares of the oil and gas company's stock worth $3,790,773,000 after purchasing an additional 127,466 shares during the last quarter. Fisher Asset Management LLC grew its position in ExxonMobil by 1.0% during the fourth quarter. Fisher Asset Management LLC now owns 31,497,852 shares of the oil and gas company's stock valued at $3,790,452,000 after acquiring an additional 303,359 shares during the last quarter. Finally, Legal & General Group Plc grew its position in ExxonMobil by 4.5% during the third quarter. Legal & General Group Plc now owns 20,396,334 shares of the oil and gas company's stock valued at $2,299,687,000 after acquiring an additional 886,087 shares during the last quarter. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Stock Down 1.3%

Shares of ExxonMobil stock opened at $147.80 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. ExxonMobil Corporation has a 52-week low of $101.18 and a 52-week high of $176.41. The stock has a market capitalization of $612.63 billion, a price-to-earnings ratio of 24.92, a P/E/G ratio of 0.65 and a beta of 0.19. The company's 50 day moving average price is $155.51 and its 200-day moving average price is $139.90.

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

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be issued a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Insider Activity

In other news, VP Darrin L. Talley sold 2,150 shares of the firm's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president owned 18,204 shares in the company, valued at approximately $2,872,955.28. This trade represents a 10.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on XOM. Wolfe Research cut shares of ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. Piper Sandler reduced their price target on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group increased their price target on shares of ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. HSBC increased their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the company a "hold" rating in a research report on Friday, March 20th. Finally, Bank of America increased their price target on shares of ExxonMobil from $135.00 to $151.00 and gave the company a "neutral" rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $165.55.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip...

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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