Geneos Wealth Management Inc. Sells 7,627 Shares of ExxonMobil Corporation $XOM

Key Points

• Geneos Wealth Management reduced its ExxonMobil stake by 4.0% in the first quarter, selling 7,627 shares and leaving it with 181,116 shares valued at about $30.7 million.
• ExxonMobil reported stronger-than-expected Q1 earnings of $1.16 per share on revenue of $83.16 billion, both topping analyst forecasts, while revenue rose 2.4% year over year.
• The company continues to return cash to shareholders with a quarterly dividend of $1.03 per share and a 2.8% yield, and Wall Street remains generally positive with a consensus Moderate Buy rating and average target price of $164.45.

Geneos Wealth Management Inc. trimmed its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,116 shares of the oil and gas company's stock after selling 7,627 shares during the quarter. ExxonMobil accounts for approximately 0.7% of Geneos Wealth Management Inc.'s investment portfolio, making the stock its 25th largest position. Geneos Wealth Management Inc.'s holdings in ExxonMobil were worth $30,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of ExxonMobil in the 4th quarter worth about $7,625,063,000. Quantum Portfolio Management LLC bought a new position in ExxonMobil during the 1st quarter valued at about $965,932,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in ExxonMobil by 18.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock valued at $1,925,119,000 after purchasing an additional 2,465,410 shares during the last quarter. Van ECK Associates Corp raised its position in ExxonMobil by 334.4% in the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after purchasing an additional 2,357,467 shares during the period. Finally, Diamant Asset Management Inc. raised its position in ExxonMobil by 17,312.4% in the 1st quarter. Diamant Asset Management Inc. now owns 2,183,864 shares of the oil and gas company's stock worth $370,514,000 after purchasing an additional 2,171,322 shares during the period. Institutional investors own 61.80% of the company's stock.

ExxonMobil Trading Up 1.1%

XOM opened at $147.56 on Friday. 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 stock's fifty day moving average is $145.78 and its two-hundred day moving average is $146.31. The company has a market capitalization of $611.62 billion, a P/E ratio of 24.88, a PEG ratio of 0.61 and a beta of 0.17. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week 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 earnings per share 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 business had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same period in the prior year, the business earned $1.76 EPS. The business's revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts forecast that ExxonMobil Corporation will post 11.38 earnings per share for the current year.

ExxonMobil Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, May 15th. ExxonMobil's payout ratio is presently 69.48%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Zacks Research downgraded ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Wolfe Research lowered ExxonMobil from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, April 21st. Bank of America upgraded ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price objective for the company in a report on Tuesday, June 16th. Finally, Scotiabank upped their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $164.45.

Key ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil’s expanding LNG portfolio, including the Golden Pass project and other developments, could lift export capacity and future cash flows, strengthening the company’s long-term growth outlook. Will ExxonMobil's Expanding LNG Portfolio Drive Long-Term Growth?
• Positive Sentiment: Analysts remain upbeat on ExxonMobil, with one report citing an average price target of $164.45, suggesting Wall Street still sees upside from current levels. Analysts Set ExxonMobil Corporation NYSE: XOM Target Price at $164.45
• Positive Sentiment: Erste Group raised its FY2027 EPS estimate for ExxonMobil to $10.80 from $10.49, reinforcing expectations that earnings will stay strong over the next few years.

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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