ExxonMobil Corporation $XOM Shares Bought by First Horizon Corp

Key Points

• First Horizon Corp increased its ExxonMobil stake by 12.8% in the first quarter, adding 19,382 shares to bring its total to 170,749 shares worth about $28.97 million. ExxonMobil now ranks as the firm’s 18th-largest holding.
• ExxonMobil shares rose 3.9% as escalating U.S.-Iran tensions and Strait of Hormuz concerns lifted oil prices, with broader energy-market strength also supporting the stock.
• Fundamentals and shareholder returns remain solid: Exxon beat quarterly EPS and revenue estimates, and it recently paid a $1.03 quarterly dividend, equal to a 2.9% annualized yield.

First Horizon Corp lifted its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 170,749 shares of the oil and gas company's stock after acquiring an additional 19,382 shares during the period. ExxonMobil accounts for approximately 1.2% of First Horizon Corp's holdings, making the stock its 18th biggest position. First Horizon Corp's holdings in ExxonMobil were worth $28,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of America Corp DE boosted its stake in ExxonMobil by 2.0% during the fourth quarter. Bank of America Corp DE now owns 75,152,366 shares of the oil and gas company's stock valued at $9,043,836,000 after buying an additional 1,457,560 shares in the last quarter. Norges Bank bought a new stake in ExxonMobil in the fourth quarter worth about $7,625,063,000. Bank of New York Mellon Corp lifted its holdings in ExxonMobil by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 46,605,353 shares of the oil and gas company's stock valued at $5,608,488,000 after acquiring an additional 531,362 shares during the last quarter. Northern Trust Corp boosted its position in shares of ExxonMobil by 1.0% during the 3rd quarter. Northern Trust Corp now owns 44,026,019 shares of the oil and gas company's stock valued at $4,963,934,000 after purchasing an additional 445,283 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ExxonMobil by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,090,589 shares of the oil and gas company's stock valued at $4,102,708,000 after purchasing an additional 293,446 shares in the last quarter. 61.80% of the stock is currently owned by institutional investors.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Escalating U.S.-Iran conflict and new measures affecting the Strait of Hormuz are lifting oil prices and improving the outlook for ExxonMobil’s upstream and refining businesses. Why ExxonMobil (XOM) Stock Is Up Today
• Positive Sentiment: Broader energy market strength is supporting XOM, with reports that oil is nearing $80 a barrel as investors price in higher supply risk from the Middle East conflict. BATL, TPET, WTI, XOM, USO Stocks Climb Amid Escalating US-Iran Conflict: Oil Nears $80 A Barrel
• Positive Sentiment: One market note says energy profits may remain attractive in the near term, keeping investor interest focused on oil names like ExxonMobil. Why ExxonMobil (XOM) stock is up today
• Neutral Sentiment: A separate market wrap showed U.S. stocks closing lower overall, reflecting risk-off sentiment tied partly to the same Iran-related tensions, though this was a broad market move rather than Exxon-specific news. Stocks Settle Lower as Chipmakers Routed and US-Iran Tensions Escalate

ExxonMobil Trading Up 3.9%

NYSE:XOM opened at $144.34 on Tuesday. The stock's 50 day moving average price is $146.01 and its 200 day moving average price is $145.75. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. The company has a market capitalization of $598.29 billion, a P/E ratio of 24.34, a P/E/G ratio of 0.56 and a beta of 0.17. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. During the same quarter in the prior year, the company posted $1.76 EPS. The firm's revenue was up 2.4% on a year-over-year basis. On average, research analysts forecast that ExxonMobil Corporation will post 11.69 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. ExxonMobil's dividend payout ratio (DPR) is 69.48%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price target on ExxonMobil from $163.00 to $182.00 and gave the company an "overweight" rating in a report on Tuesday, May 26th. Citigroup restated a "neutral" rating on shares of ExxonMobil in a report on Wednesday, July 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $180.00 target price on shares of ExxonMobil in a research report on Tuesday, May 5th. Jefferies Financial Group increased their price target on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Finally, Piper Sandler cut their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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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