High Note Wealth LLC Raises Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• High Note Wealth LLC dramatically increased its ExxonMobil stake by 6,350.5% in the fourth quarter, ending with 12,127 shares valued at about $1.46 million.
• ExxonMobil’s latest earnings beat expectations, reporting $1.16 EPS versus the $0.98 consensus and revenue of $83.16 billion, while revenue rose 2.4% year over year.
• The company announced a quarterly dividend of $1.03 per share, equal to an annualized yield of 2.6%, and several analyst firms recently maintained generally positive ratings with a consensus target price of $163.95.

High Note Wealth LLC raised its holdings in ExxonMobil Corporation (NYSE:XOM - Free Report) by 6,350.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,127 shares of the oil and gas company's stock after purchasing an additional 11,939 shares during the period. High Note Wealth LLC's holdings in ExxonMobil were worth $1,459,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in XOM. Midwest Capital Advisors LLC acquired a new stake in ExxonMobil in the 4th quarter valued at $27,000. E Fund Management Hong Kong Co. Ltd. raised its position in ExxonMobil by 456.1% during the fourth 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 period. Key Capital Management INC purchased a new position in ExxonMobil during the fourth quarter valued at $28,000. Westfuller Advisors LLC purchased a new position in ExxonMobil during the third quarter valued at $30,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of ExxonMobil in the fourth quarter valued at about $32,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.

ExxonMobil Stock Down 0.1%

Shares of NYSE XOM opened at $157.72 on Monday. ExxonMobil Corporation has a 12-month low of $101.18 and a 12-month high of $176.41. The stock has a market cap of $653.72 billion, a PE ratio of 26.60, a P/E/G ratio of 0.69 and a beta of 0.19. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $155.05 and a 200 day moving average of $137.61.

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 for the quarter, topping analysts' consensus estimates of $0.98 by $0.18. The business 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 business's revenue was up 2.4% on a year-over-year basis. During the same period last year, the company posted $1.76 EPS. As a group, sell-side analysts predict that ExxonMobil Corporation will post 11.5 EPS for the current fiscal year.

ExxonMobil Announces Dividend

The business 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 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%.

Insiders Place Their Bets

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of the company's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $157.82, for a total value of $339,313.00. Following the completion of the sale, the vice president directly owned 18,204 shares in the company, valued at $2,872,955.28. This represents a 10.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.03% of the company's stock.

Trending Headlines about 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

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a research note on Monday, March 2nd. Piper Sandler cut their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. Morgan Stanley reduced their target price on ExxonMobil from $172.00 to $171.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Barclays lifted their price target on ExxonMobil from $145.00 to $163.00 and gave the stock an "overweight" rating in a research note on Monday, March 16th. Finally, Loop Capital set a $123.00 price target on ExxonMobil in a research report on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, ExxonMobil has an average rating of "Moderate Buy" and a consensus target price of $163.95.

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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