Hollencrest Capital Management Has $2.51 Million Stake in ExxonMobil Corporation $XOM

Key Points

• Hollencrest Capital Management cut its ExxonMobil stake by 44.7% in the second quarter, selling 14,854 shares and retaining 18,352 shares valued at approximately $2.51 million.
• ExxonMobil has a consensus “Hold” rating from analysts, with an average price target of $166.10; ten analysts rate it a Buy and twelve rate it a Hold.
• The company reported quarterly revenue of $114.53 billion but missed earnings estimates slightly, posting $3.52 per share versus $3.56 expected. ExxonMobil also declared a $1.03 quarterly dividend, equal to a 2.6% annualized yield.

Hollencrest Capital Management reduced its position in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 44.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,352 shares of the oil and gas company's stock after selling 14,854 shares during the period. Hollencrest Capital Management's holdings in ExxonMobil were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in XOM. Greenwood Capital Associates LLC grew its holdings in ExxonMobil by 10.9% in the 2nd quarter. Greenwood Capital Associates LLC now owns 59,481 shares of the oil and gas company's stock valued at $8,132,000 after buying an additional 5,856 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of ExxonMobil by 0.4% during the second quarter. Greenleaf Trust now owns 109,525 shares of the oil and gas company's stock worth $14,974,000 after buying an additional 427 shares in the last quarter. New Mexico Educational Retirement Board lifted its holdings in shares of ExxonMobil by 5.2% during the second quarter. New Mexico Educational Retirement Board now owns 207,853 shares of the oil and gas company's stock worth $28,418,000 after buying an additional 10,200 shares in the last quarter. Manchester Financial Inc. boosted its position in shares of ExxonMobil by 2.2% in the second quarter. Manchester Financial Inc. now owns 7,482 shares of the oil and gas company's stock valued at $1,023,000 after acquiring an additional 160 shares during the period. Finally, Mufg Securities Americas Inc. boosted its position in shares of ExxonMobil by 8.0% in the second quarter. Mufg Securities Americas Inc. now owns 124,840 shares of the oil and gas company's stock valued at $17,068,000 after acquiring an additional 9,229 shares during the period. 61.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on XOM shares. Piper Sandler began coverage on shares of ExxonMobil in a research report on Thursday, July 23rd. They set a "neutral" rating and a $158.00 price target on the stock. Zacks Research downgraded shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Freedom Capital upgraded shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Mizuho lowered their target price on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. Finally, TD Cowen lifted their price target on shares of ExxonMobil from $155.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $166.10.

ExxonMobil Trading Up 0.3%

Shares of XOM opened at $156.88 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.85 and a current ratio of 1.13. ExxonMobil Corporation has a 52-week low of $108.35 and a 52-week high of $176.41. The firm has a market cap of $650.26 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.62 and a beta of 0.17. The business's fifty day moving average is $150.53 and its 200-day moving average is $151.87.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The oil and gas company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.56 by ($0.04). The business had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.During the same quarter in the prior year, the company earned $1.64 earnings per share. Equities analysts anticipate that ExxonMobil Corporation will post 11.86 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 17th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil's payout ratio is presently 53.02%.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Higher oil prices have lifted ExxonMobil’s earnings outlook, reinforcing the bullish view that the company can continue benefiting from its integrated upstream, refining and chemicals operations. I'm Not Selling ExxonMobil, Even With Oil Prices Where They Are
• Positive Sentiment: Valuation analysis indicates XOM may be trading below estimates of its discounted-cash-flow value and below levels suggested by market multiples. The company’s Mozambique LNG contracts also add potential long-term growth and cash-flow support. ExxonMobil Stock Could Trade At A Discount Despite Mozambique LNG Contracts
• Positive Sentiment: ExxonMobil’s low debt load and strong balance sheet provide flexibility to withstand weaker commodity prices, pursue acquisitions and maintain shareholder returns, including its dividend. Why ExxonMobil's Financial Strength Matters for Investors
• Neutral Sentiment: ExxonMobil is reportedly among potential bidders for Shell’s U.S. chemicals assets, a transaction that could expand its chemicals footprint but would also require significant capital and carry integration risk. Potential Bidders Are Looking at Shell’s Chemical Assets
• Neutral Sentiment: ExxonMobil is scheduled to speak at Barclays’ energy conference, giving investors an opportunity to receive updates on strategy, commodity markets and capital allocation. ExxonMobil to Speak at Barclays 40th Annual Energy-Power Conference
• Negative Sentiment: Crude oil has fallen for several sessions as optimism surrounding the Strait of Hormuz eases the geopolitical supply premium, creating pressure on energy shares and raising concerns about near-term commodity-price momentum. Exxon Slips Below $159 as Hormuz Hope Hits Crude Again
• Negative Sentiment: July PCE inflation exceeded economists’ expectations, potentially keeping interest rates higher for longer and weighing on economically sensitive energy demand and equity valuations. These Three Stocks Are Must-Owns After the PCE Data

ExxonMobil 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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