Bar Harbor Wealth Management Reduces Stock Position in ExxonMobil Corporation $XOM

Key Points

• Bar Harbor Wealth Management cut its ExxonMobil stake by 5.9% in the first quarter, selling 12,895 shares and leaving it with 206,087 shares valued at about $34.97 million. ExxonMobil remains the fund’s 9th-largest holding and makes up roughly 2.0% of its portfolio.
• Wall Street remains cautiously positive on XOM, with a consensus rating of “Moderate Buy” and an average price target of $165.70. Analysts have recently trimmed some price targets, but the stock still has 11 Buy ratings versus 10 Hold ratings.
• ExxonMobil beat quarterly earnings expectations, reporting $1.16 EPS versus the $0.98 estimate and revenue of $83.16 billion, up 2.4% year over year. The company also paid a $1.03 quarterly dividend, equal to a 3.0% yield.

Bar Harbor Wealth Management lessened its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 206,087 shares of the oil and gas company's stock after selling 12,895 shares during the period. ExxonMobil makes up approximately 2.0% of Bar Harbor Wealth Management's holdings, making the stock its 9th largest position. Bar Harbor Wealth Management's holdings in ExxonMobil were worth $34,965,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ICW Investment Advisors LLC increased its position in ExxonMobil by 0.3% during the fourth 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 during the period. Swisher Financial Concepts Inc. boosted its holdings in ExxonMobil by 0.3% in the 1st quarter. Swisher Financial Concepts Inc. now owns 27,402 shares of the oil and gas company's stock valued at $4,649,000 after purchasing an additional 69 shares during the period. Fortis Capital Management LLC grew its position in ExxonMobil by 2.0% in the 4th quarter. Fortis Capital Management LLC now owns 3,603 shares of the oil and gas company's stock worth $434,000 after purchasing an additional 70 shares during the last quarter. Peoples Bank OH increased its holdings 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 purchasing an additional 71 shares during the period. Finally, Paulson Wealth Management Inc. raised its position in shares of ExxonMobil by 1.0% during the fourth quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company's stock valued at $887,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

XOM has been the subject of several research reports. Sanford C. Bernstein reduced their target price on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. Weiss Ratings lowered ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Morgan Stanley reduced their price objective on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. HSBC lifted their price objective on ExxonMobil from $135.00 to $158.00 and gave the stock a "hold" rating in a report on Friday, March 20th. Finally, Piper Sandler lowered their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, ExxonMobil presently has a consensus rating of "Moderate Buy" and an average target price of $165.70.

ExxonMobil Trading Up 0.4%

Shares of XOM opened at $137.40 on Friday. 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 stock has a market cap of $569.50 billion, a PE ratio of 23.17, a PEG ratio of 0.58 and a beta of 0.16. ExxonMobil Corporation has a 1 year low of $105.53 and a 1 year high of $176.41. The stock has a 50 day simple moving average of $148.85 and a 200-day simple moving average of $144.01.

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, beating the consensus estimate 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 EPS. ExxonMobil's quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company 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. This represents a $4.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, May 15th. ExxonMobil's payout ratio is currently 69.48%.

Key ExxonMobil News

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 seized by Cuba, reviving Exxon’s ability to pursue damages and potentially unlocking a legal win that could add value over time. Supreme Court Sides With Exxon in Lawsuit Over Assets Seized by Cuba
• Positive Sentiment: Analysts continue to point to Exxon’s upstream business as well positioned to benefit from still-supportive oil prices, with growth assets in the Permian Basin and Guyana helping underpin production and earnings. Can ExxonMobil's Upstream Business Thrive at Current Oil Prices?
• Positive Sentiment: ExxonMobil has applied to expand its footprint in Guyana, which would reinforce one of its most important long-term growth areas if approved. Exxon Mobil Applies to Expand Footprint in Guyana
• Neutral Sentiment: Longer-term commentary suggests ExxonMobil may look different by 2040, but it is still expected to remain an integrated oil giant; the note is more about strategic evolution than a near-term catalyst. Prediction: You Won't Recognize ExxonMobil in 2040
• Negative Sentiment: President Trump said the Department of Justice is investigating ExxonMobil and other major oil companies over elevated natural gas prices, creating headline risk and potential regulatory pressure. Trump says Exxon, Chevron among firms probed as part of surge in gas prices
• Negative Sentiment: Oil prices have eased from recent highs, and the broader energy sector has been under pressure as supply concerns fade, which can weigh on ExxonMobil’s near-term earnings expectations. NOV and Transocean Stocks Trade Down, What You Need To Know

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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