Arax Advisory Partners Cuts Stake in ExxonMobil Corporation $XOM

Key Points

• Arax Advisory Partners reduced its ExxonMobil stake by 11.4% in the fourth quarter, selling 9,748 shares and leaving it with 75,734 shares valued at about $9.1 million.
• ExxonMobil reported better-than-expected quarterly results, earning $1.16 per share versus $0.98 expected, while revenue of $83.16 billion also topped estimates.
• The company continues to reward shareholders with a quarterly dividend of $1.03 per share, equal to an annualized yield of 2.8%, even as analysts maintain a consensus Hold rating on the stock.

Arax Advisory Partners lowered its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,734 shares of the oil and gas company's stock after selling 9,748 shares during the period. Arax Advisory Partners' holdings in ExxonMobil were worth $9,114,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in XOM. Capital Investment Advisors LLC boosted its position in ExxonMobil by 6.6% during the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock valued at $27,857,000 after purchasing an additional 14,233 shares in the last quarter. New Age Alpha Advisors LLC boosted its position in ExxonMobil by 5.6% during the third quarter. New Age Alpha Advisors LLC now owns 166,547 shares of the oil and gas company's stock valued at $18,778,000 after purchasing an additional 8,853 shares in the last quarter. Roberts Capital Advisors LLC bought a new stake in ExxonMobil during the third quarter valued at about $1,240,000. Midland Wealth Advisors LLC boosted its position in ExxonMobil by 95.0% during the third quarter. Midland Wealth Advisors LLC now owns 44,675 shares of the oil and gas company's stock valued at $5,037,000 after purchasing an additional 21,766 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its position in ExxonMobil by 9.0% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 410,046 shares of the oil and gas company's stock valued at $46,233,000 after purchasing an additional 33,950 shares in the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Price Performance

Shares of XOM stock opened at $146.80 on Friday. ExxonMobil Corporation has a fifty-two week low of $105.53 and a fifty-two week high of $176.41. The firm has a market capitalization of $608.47 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 0.62 and a beta of 0.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04. The stock's 50-day simple moving average is $152.09 and its 200-day simple moving average is $142.36.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share 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 for the quarter, compared to analyst estimates of $81.13 billion. During the same quarter in the previous year, the firm earned $1.76 earnings per share. The company's revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.8 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

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 dividend of $1.03 per share. The ex-dividend date was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. ExxonMobil's payout ratio is presently 69.48%.

Insider Activity at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil 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 owned 17,124 shares of the company's stock, valued at $2,662,782. The trade was a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on XOM shares. Wolfe Research downgraded ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. HSBC raised their price objective on ExxonMobil from $135.00 to $158.00 and gave the company a "hold" rating in a research report on Friday, March 20th. Morgan Stanley dropped 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. Mizuho raised their price target on ExxonMobil from $159.00 to $175.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Finally, BNP Paribas Exane set a $165.00 price target on ExxonMobil and gave the stock a "neutral" rating in a research note on Friday, April 17th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $165.55.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

ExxonMobil Company 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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