AdvisorNet Financial Inc Decreases Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• AdvisorNet Financial Inc cut its ExxonMobil stake by 40.3% in the first quarter, selling 34,878 shares and leaving it with 51,654 shares worth about $8.76 million.
• ExxonMobil got a legal boost when the U.S. Supreme Court ruled in its favor in a long-running Cuba-related compensation case, potentially improving its chances of recovering damages.
• Despite positive analyst commentary and a recent earnings beat, the stock faces some near-term pressure from weaker crude prices and a reported Justice Department probe into elevated natural gas prices.

AdvisorNet Financial Inc trimmed its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,654 shares of the oil and gas company's stock after selling 34,878 shares during the period. AdvisorNet Financial Inc's holdings in ExxonMobil were worth $8,764,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. ICW Investment Advisors LLC boosted its stake in shares of ExxonMobil by 0.3% during the 4th quarter. ICW Investment Advisors LLC now owns 25,286 shares of the oil and gas company's stock worth $3,043,000 after acquiring an additional 69 shares in the last quarter. Swisher Financial Concepts Inc. increased its position in shares of ExxonMobil by 0.3% in the first quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company's stock valued at $4,649,000 after buying an additional 69 shares in the last quarter. Fortis Capital Management LLC increased its position in shares of ExxonMobil by 2.0% in the fourth quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company's stock valued at $434,000 after buying an additional 70 shares in the last quarter. Peoples Bank OH raised its stake in shares of ExxonMobil by 0.5% during 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. Finally, Paulson Wealth Management Inc. raised its stake in shares of ExxonMobil by 1.0% during 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. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: The U.S. Supreme Court ruled in ExxonMobil’s favor in a long-running lawsuit over property confiscated by Cuba, reviving Exxon’s ability to seek compensation and potentially strengthening its legal position in the case. Reuters article
• Positive Sentiment: Commentary highlighted ExxonMobil as one of the energy names that may hold up well if the broader market weakens, reinforcing its reputation as a defensive, dividend-paying stock. Yahoo Finance article
• Positive Sentiment: Analyst coverage noted that Exxon’s upstream business could benefit from strong oil prices, with Permian and Guyana assets supporting production growth and earnings. Zacks article
• Neutral Sentiment: ExxonMobil reportedly applied to expand its footprint in Guyana, a strategic move that could support longer-term growth but does not appear to be an immediate catalyst. Yahoo Finance article
• Negative Sentiment: The stock moved lower alongside weaker crude prices, as oil fell to its lowest level since the start of the Iran conflict, which can weigh on upstream earnings expectations for ExxonMobil. Yahoo Finance article
• Negative Sentiment: Investors also reacted to news that President Trump said the Justice Department is probing ExxonMobil and other oil companies over elevated natural gas prices, adding regulatory overhang to the shares. Reuters article

Wall Street Analyst Weigh In

A number of research firms have weighed in on XOM. Zacks Research cut shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their target price on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Citigroup lifted their price objective on ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. Wells Fargo & Company boosted their price objective on ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Finally, Morgan Stanley reduced their target price on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Eleven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.70.

ExxonMobil Price Performance

XOM stock opened at $136.86 on Thursday. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. 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 $567.27 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 0.59 and a beta of 0.16. The business has a 50 day simple moving average of $149.08 and a 200-day simple moving average of $143.87.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $81.13 billion. During the same period last year, the company earned $1.76 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is 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.

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