Bogart Wealth LLC Cuts Stake in ExxonMobil Corporation $XOM

Key Points

• Bogart Wealth LLC reduced its ExxonMobil stake by 12.2% in the first quarter, selling 169,144 shares and leaving it with 1,216,193 shares worth about $206.3 million. ExxonMobil remains the firm’s largest holding, making up about 8% of its portfolio.
• ExxonMobil reported better-than-expected first-quarter earnings, with EPS of $1.16 versus analysts’ estimate of $0.98 and revenue of $83.16 billion, topping expectations. Wall Street remains cautiously positive, with an average rating of Moderate Buy and a target price of $164.45.
• The company also recently paid a quarterly dividend of $1.03 per share, equal to an annualized yield of about 3.0%. Its latest stock price was down 2.7% to $137.31, well below its 52-week high of $176.41.

Bogart Wealth LLC lessened its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,216,193 shares of the oil and gas company's stock after selling 169,144 shares during the quarter. ExxonMobil accounts for about 8.0% of Bogart Wealth LLC's investment portfolio, making the stock its biggest holding. Bogart Wealth LLC's holdings in ExxonMobil were worth $206,339,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Berbice Capital Management LLC acquired a new position in ExxonMobil in the 4th quarter worth $26,000. Midwest Capital Advisors LLC acquired a new stake in shares of ExxonMobil in the 4th quarter valued at about $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 187 shares during the period. Key Capital Management INC bought a new stake in shares of ExxonMobil in the fourth quarter valued at about $28,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of ExxonMobil in the fourth quarter valued at about $32,000. Institutional investors own 61.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on XOM. Mizuho decreased their price objective on ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday. Jefferies Financial Group boosted their target price on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. 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. BNP Paribas Exane set a $165.00 price target on shares of ExxonMobil and gave the stock a "neutral" rating in a research note on Friday, April 17th. Finally, Citigroup reiterated a "neutral" rating on shares of ExxonMobil in a report on Wednesday. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $164.45.

ExxonMobil Trading Down 2.7%

ExxonMobil stock opened at $137.31 on Friday. The company has a market cap of $569.12 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 0.61 and a beta of 0.17. The firm has a 50-day moving average of $146.53 and a 200-day moving average of $145.43. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 0.77. ExxonMobil Corporation has a one year low of $105.53 and a one year high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last released its earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (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 for the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. ExxonMobil's quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts expect that ExxonMobil Corporation will post 11.64 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

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

ExxonMobil News Summary

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

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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