Avantax Planning Partners Inc. Grows Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Avantax Planning Partners increased its ExxonMobil stake by 10.1% in the first quarter, buying 9,040 additional shares and bringing its total holdings to 98,224 shares valued at about $16.7 million.
• ExxonMobil reported better-than-expected quarterly earnings of $1.16 per share on revenue of $83.16 billion, topping analyst estimates and showing 2.4% revenue growth from a year earlier.
• The company also paid a quarterly dividend of $1.03 per share, equal to an annualized yield of 2.8%, while analysts currently maintain a Moderate Buy consensus with an average price target of $164.45.

Avantax Planning Partners Inc. lifted its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 10.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,224 shares of the oil and gas company's stock after purchasing an additional 9,040 shares during the period. Avantax Planning Partners Inc.'s holdings in ExxonMobil were worth $16,665,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in ExxonMobil during the 4th quarter valued at about $7,625,063,000. Quantum Portfolio Management LLC acquired a new stake in ExxonMobil during the 1st quarter valued at $965,932,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock worth $1,925,119,000 after acquiring an additional 2,465,410 shares during the period. Van ECK Associates Corp increased its stake in ExxonMobil by 334.4% in the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock valued at $368,541,000 after buying an additional 2,357,467 shares during the period. Finally, Diamant Asset Management Inc. increased its holdings in ExxonMobil by 17,312.4% in the first quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock worth $370,514,000 after buying an additional 2,171,322 shares during the last quarter. Hedge funds and other institutional investors own 61.80% of the company's stock.

ExxonMobil Stock Performance

NYSE XOM opened at $147.56 on Friday. The stock has a market cap of $611.62 billion, a P/E ratio of 24.88, a PEG ratio of 0.60 and a beta of 0.17. The company's 50-day simple moving average is $145.78 and its 200 day simple moving average is $146.31. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter last year, the company earned $1.76 earnings per share. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that ExxonMobil Corporation will post 11.43 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio is 69.48%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil's Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation NYSE: XOM Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on XOM. BNP Paribas Exane set a $165.00 target price on ExxonMobil and gave the stock a "neutral" rating in a research report on Friday, April 17th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Piper Sandler cut their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. Bank of America upgraded ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 target price for the company in a research note on Tuesday, June 16th. Finally, DZ Bank raised ExxonMobil to a "strong-buy" rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.45.

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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