Axxcess Wealth Management LLC Reduces Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Axxcess Wealth Management reduced its ExxonMobil stake by 15.4% in the first quarter, selling 23,153 shares and leaving it with 127,494 shares valued at about $21.6 million.
• ExxonMobil reported better-than-expected first-quarter earnings, posting $1.16 per share versus the $0.98 consensus, with revenue of $83.16 billion, above estimates.
• The company recently paid a quarterly dividend of $1.03 per share, equal to an annualized $4.12 payout and a 3.0% yield, while analysts currently rate the stock a Moderate Buy with a consensus price target of $164.45.

Axxcess Wealth Management LLC cut its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 15.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,494 shares of the oil and gas company's stock after selling 23,153 shares during the period. Axxcess Wealth Management LLC's holdings in ExxonMobil were worth $21,631,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in XOM. Norges Bank purchased a new stake in shares of ExxonMobil in the fourth quarter valued at about $7,625,063,000. Mercer Global Advisors Inc. ADV increased its stake in shares of ExxonMobil by 218.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock worth $155,696,000 after purchasing an additional 2,546,791 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 purchasing an additional 2,465,410 shares during the last quarter. Van ECK Associates Corp lifted 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 in the last quarter. Finally, Diamant Asset Management Inc. grew its holdings in ExxonMobil by 17,312.4% during the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock valued at $370,514,000 after buying an additional 2,171,322 shares during the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

ExxonMobil Stock Performance

Shares of XOM stock opened at $138.84 on Monday. The company's fifty day simple moving average is $146.22 and its 200-day simple moving average is $145.57. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a market cap of $575.47 billion, a PE ratio of 23.41, a P/E/G ratio of 0.56 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced 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 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 period in the prior year, the company earned $1.76 EPS. The firm's revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that ExxonMobil Corporation will post 11.69 EPS for the current year.

ExxonMobil Announces Dividend

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

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil said it is expanding in Nigeria with a $1 billion Usan Infill Project, which is expected to restore drilling activity there and add about 40,000 barrels per day within 18 months. Article Title
• Positive Sentiment: Analysts say strong commodity tailwinds, including higher crude prices and margin gains, could lift XOM’s second-quarter results and support near-term earnings strength. Article Title
• Positive Sentiment: Oil-market commentary suggests major U.S. producers, including ExxonMobil, could benefit financially from geopolitical disruption and higher crude prices, without needing to materially increase drilling right away. Article Title
• Neutral Sentiment: Some market coverage says XOM’s valuation looks reasonable on earnings, but the stock may be stretched after a large multi-year run, which could limit upside if expectations get too high. Article Title
• Negative Sentiment: Mizuho lowered its price target on ExxonMobil to $170 and kept a neutral stance, signaling less aggressive upside expectations from one Wall Street firm. Article Title
• Negative Sentiment: Recent trading commentary noted XOM underperformed the broader market in a down session, reflecting investor caution around energy stocks when crude prices soften. Article Title

Wall Street Analysts Forecast Growth

Several research firms have weighed in on XOM. Bank of America raised ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price target for the company in a research report on Tuesday, June 16th. Sanford C. Bernstein decreased their price target on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating on the stock in a research note on Monday, May 11th. Weiss Ratings downgraded shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Wells Fargo & Company upped their price objective on shares of ExxonMobil from $183.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Finally, UBS Group lifted their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ExxonMobil presently has a consensus rating of "Moderate Buy" and a consensus price target of $164.45.

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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