Formidable Asset Management LLC Sells 11,734 Shares of ExxonMobil Corporation $XOM

Key Points

• Formidable Asset Management LLC reduced its ExxonMobil stake by 22.7% in the first quarter, selling 11,734 shares and leaving it with 39,980 shares valued at about $6.78 million.
• Wall Street remains broadly constructive on ExxonMobil, with analysts maintaining mostly Buy or equivalent ratings and a consensus Moderate Buy view, though some price targets were lowered.
• Recent company updates were mixed: ExxonMobil beat first-quarter earnings and revenue estimates and continues paying a $1.03 quarterly dividend (3.0% yield), but falling oil prices to a four-month low could pressure future results.

Formidable Asset Management LLC trimmed its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 22.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,980 shares of the oil and gas company's stock after selling 11,734 shares during the quarter. ExxonMobil accounts for 1.1% of Formidable Asset Management LLC's holdings, making the stock its 19th largest holding. Formidable Asset Management LLC's holdings in ExxonMobil were worth $6,783,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Berbice Capital Management LLC bought a new position in shares of ExxonMobil in the 4th quarter valued at $26,000. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil during the 4th quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in ExxonMobil by 456.1% in the fourth 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 in the last quarter. Key Capital Management INC acquired a new stake in ExxonMobil in the fourth quarter valued at about $28,000. Finally, Nvest Wealth Strategies Inc. bought a new position in ExxonMobil in the fourth quarter valued at about $32,000. 61.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. 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. TD Cowen decreased their price target on shares of ExxonMobil from $172.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday. Morgan Stanley lowered their price objective on shares of ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a research report on Monday. Weiss Ratings downgraded shares of ExxonMobil from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Finally, Citigroup raised their target price on shares of ExxonMobil from $150.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, ExxonMobil currently has a consensus rating of "Moderate Buy" and an average price target of $164.70.

ExxonMobil News Summary

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: TD Cowen trimmed its price target on ExxonMobil to $155 from $172 but kept a buy rating, implying upside from current levels and signaling continued analyst confidence in the stock. Benzinga report
• Positive Sentiment: Erste Group Bank raised its FY2026 and FY2027 earnings estimates for ExxonMobil, which can help reinforce investor expectations for solid profitability.
• Positive Sentiment: ExxonMobil completed its redomiciliation and holding company transition from New Jersey to Texas, and shareholders approved the move while the company kept its XOM ticker. Yahoo Finance article
• Positive Sentiment: ExxonMobil advanced its Cyprus gas export plan with QatarEnergy, adding to its long-term growth and LNG-related opportunities. Yahoo Finance article
• Neutral Sentiment: Analysts highlighted that ExxonMobil’s Permian upstream business may still hold up even if oil stays below $70, suggesting operations can remain resilient near current price levels. Zacks article
• Neutral Sentiment: Technical analysis suggested XOM may be approaching support near its 200-day moving average, which could help stabilize the stock, but the broader energy sector was also weaker. Yahoo Finance sector update
• Negative Sentiment: Oil prices fell to a four-month low, creating a headwind for ExxonMobil and other integrated oil producers because weaker crude can pressure upstream earnings and sentiment. TheStreet article

ExxonMobil Stock Performance

Shares of XOM stock opened at $137.03 on Friday. The business's 50-day moving average price is $147.62 and its 200-day moving average price is $144.65. ExxonMobil Corporation has a 12 month low of $105.53 and a 12 month high of $176.41. The firm has a market capitalization of $567.99 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.57 and a beta of 0.17. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.18. The company had revenue of $83.16 billion during the quarter, compared to the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Equities research analysts forecast that ExxonMobil Corporation will post 11.9 EPS for the current year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 15th. ExxonMobil's dividend payout ratio is 69.48%.

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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