Confluence Wealth Services Inc. Raises Stock Position in ExxonMobil Corporation $XOM

Key Points

• Confluence Wealth Services increased its ExxonMobil position by 59.5% in the second quarter, adding 109,701 shares for a total of 294,079 shares valued at approximately $40.2 million.
• Analyst sentiment remains mixed: ExxonMobil has an average “Hold” rating and a consensus price target of $163.29, despite Barclays raising its target to $182.
• ExxonMobil reported quarterly revenue of $114.53 billion, exceeding estimates, though EPS of $3.52 slightly missed expectations. The company also declared a quarterly dividend of $1.03 per share, representing a 2.6% yield.

Confluence Wealth Services Inc. raised its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 59.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 294,079 shares of the oil and gas company's stock after acquiring an additional 109,701 shares during the period. ExxonMobil makes up approximately 1.1% of Confluence Wealth Services Inc.'s holdings, making the stock its 20th biggest holding. Confluence Wealth Services Inc.'s holdings in ExxonMobil were worth $40,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Portus Wealth Advisors LLC purchased a new stake in ExxonMobil during the 1st quarter worth approximately $36,000. Berbice Capital Management LLC purchased a new position in ExxonMobil during the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC purchased a new position in shares of ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of ExxonMobil by 456.1% during 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 buying an additional 187 shares during the last quarter. Finally, Atlantic Private Wealth LLC lifted its holdings in ExxonMobil by 776.9% in the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 202 shares during the period. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on XOM. Barclays upped their price objective on shares of ExxonMobil from $163.00 to $182.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. UBS Group set a $168.00 price objective on ExxonMobil in a report on Friday, August 7th. Citigroup reiterated a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. Zacks Research lowered ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $180.00 target price on shares of ExxonMobil in a research note on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil has an average rating of "Hold" and a consensus target price of $163.29.

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $158.78 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The firm's 50 day moving average is $146.80 and its two-hundred day moving average is $150.38. The firm has a market capitalization of $658.13 billion, a P/E ratio of 20.43, a P/E/G ratio of 0.63 and a beta of 0.17. ExxonMobil Corporation has a 52 week low of $105.67 and a 52 week high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The oil and gas company reported $3.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.56 by ($0.04). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The firm had revenue of $114.53 billion for the quarter, compared to analysts' expectations of $109.94 billion. During the same quarter in the prior year, the business earned $1.64 EPS. Research analysts forecast that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil's payout ratio is currently 53.02%.

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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