Clearstead Advisors LLC Raises Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Clearstead Advisors LLC increased its ExxonMobil stake by 3.6% in the fourth quarter, buying 8,197 more shares and bringing its total holding to 235,514 shares worth about $28.3 million.
• ExxonMobil reported strong quarterly results, with earnings per share of $1.16 topping estimates of $0.98 and revenue of $83.16 billion also beating expectations. Revenue rose 2.4% year over year, though EPS was down from the same quarter last year.
• The company also announced a quarterly dividend of $1.03 per share payable June 10, equivalent to an annualized dividend of $4.12 and a yield of about 2.7%.

Clearstead Advisors LLC raised its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 235,514 shares of the oil and gas company's stock after buying an additional 8,197 shares during the quarter. Clearstead Advisors LLC's holdings in ExxonMobil were worth $28,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eagle Capital Management LLC increased its holdings in shares of ExxonMobil by 15.3% in the first quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock valued at $337,000 after purchasing an additional 376 shares during the period. Caxton Associates LLP acquired a new position in ExxonMobil during the first quarter worth $305,000. Sivia Capital Partners LLC grew its holdings in ExxonMobil by 1.9% during the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock worth $1,211,000 after acquiring an additional 207 shares during the period. United Bank grew its holdings in ExxonMobil by 2.8% during the second quarter. United Bank now owns 21,821 shares of the oil and gas company's stock worth $2,352,000 after acquiring an additional 600 shares during the period. Finally, Schnieders Capital Management LLC. grew its holdings in ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock worth $3,957,000 after acquiring an additional 5,443 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

Analyst Upgrades and Downgrades

XOM has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Weiss Ratings downgraded ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday. Zacks Research upgraded ExxonMobil from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Scotiabank raised their target price on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 22nd. Finally, Loop Capital set a $123.00 price objective on ExxonMobil in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.95.

ExxonMobil Stock Performance

Shares of NYSE XOM opened at $154.82 on Monday. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $641.71 billion, a price-to-earnings ratio of 26.11, a PEG ratio of 0.68 and a beta of 0.19. The stock's fifty day simple moving average is $155.79 and its 200 day simple moving average is $139.12. ExxonMobil Corporation has a 52-week low of $101.18 and a 52-week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share 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 company posted $1.76 earnings per share. ExxonMobil's revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.7%. ExxonMobil's payout ratio is presently 69.48%.

Insider Activity at ExxonMobil

In other news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the transaction, the vice president directly owned 18,204 shares in the company, valued at approximately $2,872,955.28. The trade was a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy signed a preliminary deal with Egypt to study development of Cyprus gas discoveries, opening a possible path to export gas through Egypt’s LNG infrastructure to Europe. Reuters: QatarEnergy, ExxonMobil sign deal with Egypt to study Cyprus gas development
• Positive Sentiment: Reports that ExxonMobil may be in talks to regain rights to produce oil in Venezuela suggest a potential long-term growth opportunity if the company can re-enter a major resource base. Reuters: Exxon may acquire rights to produce oil in Venezuela
• Positive Sentiment: Rising crude prices are also supportive, with WTI above $95 per barrel boosting Permian oil and associated gas activity, which could improve ExxonMobil’s upstream revenue and cash flow. Zacks: More Gas Per Barrel of Oil: A Growth Lever for Permian Operators
• Neutral Sentiment: Additional coverage highlighted ExxonMobil’s low-debt balance sheet and ongoing ability to fund dividends and projects, reinforcing the company’s financial resilience. Zacks: ExxonMobil's Resilience: What Sets it Apart in Uncertain Times
• Neutral Sentiment: Technical commentary said XOM is pulling back after a breakout and testing support levels, which traders may be watching for confirmation of the broader uptrend. FXEmpire: ExxonMobil (XOM) Price Forecast
• Negative Sentiment: Governance-related headlines, including Exxon’s clash with proxy advisers ISS and Glass Lewis, may keep some pressure on the stock by adding uncertainty around the Texas move and shareholder voting dynamics. WSJ: Exxon Blasts Proxy Advisers for Conflict of Interest in Fight Over Texas Move

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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