ExxonMobil Corporation $XOM Shares Purchased by Pacific Heights Asset Management LLC

Key Points

• Pacific Heights Asset Management increased its ExxonMobil stake by 31% in the fourth quarter, buying 65,000 more shares and bringing its total holding to 275,000 shares worth about $33.1 million.
• Wall Street sentiment remains generally positive on ExxonMobil, with a Moderate Buy consensus and an average price target of $163.95, despite some analyst target cuts and one downgrade.
• ExxonMobil recently beat earnings and revenue estimates, reporting $1.16 EPS on $83.16 billion in revenue, and it also announced a quarterly dividend of $1.03 per share, yielding about 2.6% annually.

Pacific Heights Asset Management LLC boosted its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 31.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 275,000 shares of the oil and gas company's stock after acquiring an additional 65,000 shares during the quarter. ExxonMobil accounts for 1.2% of Pacific Heights Asset Management LLC's portfolio, making the stock its 18th largest position. Pacific Heights Asset Management LLC's holdings in ExxonMobil were worth $33,094,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil in the 4th quarter valued at approximately $27,000. E Fund Management Hong Kong Co. Ltd. increased its position in 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 acquiring an additional 187 shares during the period. Key Capital Management INC acquired a new position in shares of ExxonMobil during the 4th quarter valued at $28,000. Westfuller Advisors LLC acquired a new position in shares of ExxonMobil during the 3rd quarter valued at $30,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of ExxonMobil during the 4th quarter valued at $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XOM has been the topic of several research analyst reports. Loop Capital set a $123.00 price target on ExxonMobil in a research report on Tuesday, February 3rd. Wolfe Research cut ExxonMobil from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, April 21st. HSBC lifted their price target on ExxonMobil from $135.00 to $158.00 and gave the company a "hold" rating in a research report on Friday, March 20th. Scotiabank raised their price objective on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their price objective on ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, ExxonMobil currently has a consensus rating of "Moderate Buy" and an average target price of $163.95.

Insider Transactions at ExxonMobil

In related news, VP Darrin L. Talley sold 1,080 shares of ExxonMobil stock in a transaction on Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president owned 17,124 shares of the company's stock, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.03% of the company's stock.

ExxonMobil Stock Performance

Shares of ExxonMobil stock opened at $157.72 on Monday. The stock has a market cap of $653.72 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 0.69 and a beta of 0.19. The business has a fifty day simple moving average of $155.05 and a 200-day simple moving average of $137.61. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a 12 month low of $101.18 and a 12 month high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. The business had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil's revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.76 earnings per share. On average, sell-side analysts anticipate that ExxonMobil Corporation will post 11.5 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is presently 69.48%.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: High oil prices are expected to support ExxonMobil’s exploration and production earnings, with stronger Permian recoveries and Guyana output helping profitability. How Will High Oil Prices Aid ExxonMobil's Energy Business?
• Positive Sentiment: A Texas jury found ExxonMobil not liable in a long-running investor lawsuit tied to Canadian oil sands and Rocky Mountain gas disclosures, removing a legal overhang. Exxon Mobil not liable to investors over Canadian oil sands, gas assets, jury says
• Positive Sentiment: ExxonMobil resumed drilling in Guyana’s Canje block, which could support longer-term growth if exploration results are encouraging. Exxon resumes drilling in Guyana's Canje block after four-year absence
• Neutral Sentiment: Bernstein cut ExxonMobil’s price target from $195 to $182, which may temper some near-term enthusiasm despite continued analyst interest. Exxon Mobil (XOM) Price Target Trimmed by $13 at Bernstein
• Negative Sentiment: Some investors are pushing back on ExxonMobil’s plan to move its incorporation from New Jersey to Texas, citing governance and shareholder-rights concerns. Exxon Mobil Texas Move Pits Shareholder Rights Against Governance Goals

ExxonMobil 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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