ExxonMobil Corporation $XOM Shares Sold by Main Street Financial Solutions LLC

Key Points

• Main Street Financial Solutions LLC cut its ExxonMobil stake by 12.4% in the fourth quarter, selling 9,447 shares and leaving it with 66,498 shares worth about $8.0 million.
• Several analysts remain constructive on XOM, with Bank of America upgrading the stock to Buy and setting a $154 price target; the broader analyst consensus is still Moderate Buy.
• ExxonMobil is pursuing growth opportunities, including a 35-well exploration campaign in Guyana and a preliminary deal to supply LNG to South Africa’s first planned import terminal.

Main Street Financial Solutions LLC reduced its stake in ExxonMobil Corporation (NYSE:XOM - Free Report) by 12.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,498 shares of the oil and gas company's stock after selling 9,447 shares during the quarter. Main Street Financial Solutions LLC's holdings in ExxonMobil were worth $8,002,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in XOM. Berbice Capital Management LLC acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $26,000. Midwest Capital Advisors LLC acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $27,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings 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 worth $27,000 after acquiring an additional 187 shares during the last quarter. Key Capital Management INC acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of ExxonMobil in the 4th quarter worth approximately $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Bank of America upgraded ExxonMobil to Buy from Neutral and set a $154 price target, saying the recent pullback has made the stock look undervalued. Exxon raised to Buy at BofA as undervalued after recent pullback
• Positive Sentiment: ExxonMobil advanced growth plans in Guyana, applying for an additional 35-well exploration campaign in the Stabroek block, which could support long-term production growth. Exxon applies for additional 35-well exploration campaign in Guyana’s Stabroek block
• Positive Sentiment: Exxon signed a preliminary agreement to supply LNG to South Africa’s first planned import terminal, adding another international gas opportunity and reinforcing its LNG expansion strategy. Exxon Mobil signs deal to supply South Africa's first planned LNG terminal
• Neutral Sentiment: Analysts and market commentary continue to describe ExxonMobil as a relatively resilient, low-cost energy major, with some brokerages maintaining a Moderate Buy view despite oil-price volatility. Oil Prices Slide on US-Iran Deal: 3 Energy Stocks Worth Watching
• Neutral Sentiment: Sector-wide energy shares are weaker as Brent and WTI fall on hopes for reduced Middle East supply risk, which is limiting upside for ExxonMobil in the near term. Sector Update: Energy Stocks Lower Wednesday Afternoon
• Negative Sentiment: Oil-market headlines tied to U.S.-Iran peace hopes and a possible reopening of the Strait of Hormuz have pressured crude prices, which can weigh on ExxonMobil’s earnings expectations and stock performance. Oil Prices Fall Below $80. Why That Could Make Exxon a Buy.
• Negative Sentiment: Some recent commentary is explicitly warning investors away from XOM, highlighting concerns tied to the oil-price backdrop and valuation versus alternatives. 2 reasons to avoid XOM and 1 stock to buy instead

Wall Street Analyst Weigh In

Several brokerages have recently commented on XOM. Citigroup upped their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 2nd. Bank of America upgraded shares of ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 target price on the stock in a report on Tuesday. UBS Group increased their target price on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, May 4th. Piper Sandler reduced their target price on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, Zacks Research lowered shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $165.70.

ExxonMobil Price Performance

ExxonMobil stock opened at $140.64 on Thursday. The firm has a market cap of $582.93 billion, a PE ratio of 23.72, a price-to-earnings-growth ratio of 0.60 and a beta of 0.16. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. 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 company's 50 day moving average is $150.85 and its two-hundred day moving average is $143.10.

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, topping analysts' consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analyst estimates of $81.13 billion. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 EPS. On average, research analysts expect that ExxonMobil Corporation will post 11.8 EPS for the current fiscal year.

ExxonMobil Announces Dividend

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

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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