Ascentis Independent Advisors Has $10.21 Million Position in ExxonMobil Corporation $XOM

Key Points

• Ascentis Independent Advisors increased its ExxonMobil stake by 87.1% in the first quarter, ending with 60,187 shares valued at about $10.21 million. ExxonMobil is now its 17th-largest holding and makes up 0.8% of the portfolio.
• ExxonMobil reported better-than-expected quarterly earnings, posting $1.16 EPS versus estimates of $0.98 and revenue of $83.16 billion, while analysts still expect full-year EPS of 11.64. The company also highlighted improving margins and strong commodity tailwinds for Q2.
• The company declared a $1.03 quarterly dividend for a 3.0% annualized yield, and analysts remain generally constructive with a Moderate Buy consensus and average price target of $164.45. Recent reports also point to a planned $1 billion investment in Nigeria that could boost future production.

Ascentis Independent Advisors boosted its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 87.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,187 shares of the oil and gas company's stock after acquiring an additional 28,015 shares during the period. ExxonMobil accounts for 0.8% of Ascentis Independent Advisors' holdings, making the stock its 17th biggest position. Ascentis Independent Advisors' holdings in ExxonMobil were worth $10,212,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Berbice Capital Management LLC bought a new position in shares of ExxonMobil in the fourth quarter valued at about $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil during the 4th quarter worth about $27,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of ExxonMobil by 456.1% during 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 period. Key Capital Management INC acquired a new position in ExxonMobil in the 4th quarter valued at about $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in ExxonMobil in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Stock Performance

XOM opened at $137.31 on Friday. 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 $105.53 and a 52-week high of $176.41. The firm has a market cap of $569.12 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 0.61 and a beta of 0.17. The business's fifty day moving average is $146.53 and its 200-day moving average is $145.43.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating 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 quarter in the previous year, the firm earned $1.76 earnings per share. ExxonMobil's revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts expect that ExxonMobil Corporation will post 11.64 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio (DPR) is currently 69.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on XOM. Citigroup restated a "neutral" rating on shares of ExxonMobil in a report on Wednesday. Jefferies Financial Group lifted their price target on ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Royal Bank Of Canada restated a "sector perform" rating and issued a $180.00 price target on shares of ExxonMobil in a research note on Tuesday, May 5th. Morgan Stanley decreased their price objective on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. increased their price objective on ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $164.45.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Exxon signaled a stronger-than-expected Q2 earnings backdrop, with higher crude prices and improved refining/upstream margins expected to lift results. Strong Commodity Tailwinds Poised to Boost XOM's Q2 Results
• Positive Sentiment: The company updated Q2 earnings considerations, and multiple reports said the new outlook points to a potentially large profit windfall, with some estimates rising to around $5 billion in quarterly earnings lift. Exxon Mobil updates Q2 earnings considerations, cites impacts across key businesses
• Positive Sentiment: ExxonMobil and partners committed about $1 billion to Nigeria’s Usan Infill Project, which could add roughly 40,000 barrels per day of production and strengthen future output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

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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