Griffith & Werner Inc. Reduces Position in ExxonMobil Corporation $XOM

Key Points

• Griffith & Werner Inc. cut its ExxonMobil stake by 27.6% in the first quarter, selling 16,078 shares and leaving it with 42,179 shares valued at about $7.16 million.
• ExxonMobil reported better-than-expected Q1 earnings of $1.16 per share versus the $0.98 estimate, with revenue of $83.16 billion also topping forecasts. Analysts now expect the company to earn 11.69 per share for the full year.
• The stock has also been supported by higher oil prices amid U.S.-Iran tensions, while ExxonMobil continues to pay a 2.9% dividend yield and has a Wall Street consensus rating of Moderate Buy.

Griffith & Werner Inc. reduced its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,179 shares of the oil and gas company's stock after selling 16,078 shares during the quarter. ExxonMobil comprises 3.5% of Griffith & Werner Inc.'s portfolio, making the stock its 6th biggest holding. Griffith & Werner Inc.'s holdings in ExxonMobil were worth $7,156,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in XOM. Eagle Capital Management LLC boosted its holdings in ExxonMobil by 15.3% in the 1st quarter. Eagle Capital Management LLC now owns 2,836 shares of the oil and gas company's stock valued at $337,000 after purchasing an additional 376 shares during the period. Caxton Associates LLP bought a new position in shares of ExxonMobil during the 1st quarter worth about $305,000. Sivia Capital Partners LLC lifted its stake in shares of ExxonMobil by 1.9% in the second quarter. Sivia Capital Partners LLC now owns 11,237 shares of the oil and gas company's stock valued at $1,211,000 after buying an additional 207 shares during the period. United Bank grew its position in ExxonMobil by 2.8% during the second quarter. United Bank now owns 21,821 shares of the oil and gas company's stock worth $2,352,000 after buying an additional 600 shares in the last quarter. Finally, Schnieders Capital Management LLC. increased its stake in ExxonMobil by 17.4% during the second quarter. Schnieders Capital Management LLC. now owns 36,710 shares of the oil and gas company's stock valued at $3,957,000 after acquiring an additional 5,443 shares during the period. 61.80% of the stock is currently owned by institutional investors.

ExxonMobil Stock Up 3.9%

Shares of XOM opened at $144.34 on Tuesday. The business's fifty day moving average price is $146.01 and its two-hundred day moving average price is $145.75. The firm has a market capitalization of $598.29 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 0.56 and a beta of 0.17. ExxonMobil Corporation has a 52 week low of $105.53 and a 52 week high of $176.41. 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 issued its quarterly 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. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The company had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same quarter in the previous year, the company earned $1.76 EPS. ExxonMobil's revenue was up 2.4% on a year-over-year basis. On average, analysts predict that ExxonMobil Corporation will post 11.69 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

Key ExxonMobil News

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

Wall Street Analysts Forecast Growth

XOM has been the subject of a number of research reports. Zacks Research downgraded ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Piper Sandler lowered their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Jefferies Financial Group upped their target price on ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a research note on Thursday, April 9th. Morgan Stanley reduced their target price on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating for the company in a research report on Monday, June 29th. Finally, Citigroup reiterated a "neutral" rating on shares of ExxonMobil in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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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