Huntington National Bank Increases Holdings in ExxonMobil Corporation $XOM

Key Points

• Huntington National Bank increased its ExxonMobil stake by 0.4% in the fourth quarter, adding 7,134 shares to bring its total holdings to 1,811,523 shares worth about $218 million.
• ExxonMobil reported better-than-expected quarterly earnings, posting $1.16 per share versus analysts’ $0.98 estimate, on revenue of $83.16 billion that also topped expectations.
• The company declared a quarterly dividend of $1.03 per share, equal to an annualized payout of $4.12 and a yield of 2.8%, while analysts currently rate the stock a consensus Hold with a $165.55 average price target.

Huntington National Bank grew its holdings in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,811,523 shares of the oil and gas company's stock after purchasing an additional 7,134 shares during the quarter. ExxonMobil makes up 1.3% of Huntington National Bank's investment portfolio, making the stock its 14th largest holding. Huntington National Bank's holdings in ExxonMobil were worth $217,999,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Connecticut Capital Management Group LLC purchased a new stake in ExxonMobil in the 4th quarter worth about $847,000. Kingsview Wealth Management LLC increased its holdings in ExxonMobil by 8.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 166,995 shares of the oil and gas company's stock worth $20,096,000 after acquiring an additional 13,524 shares during the last quarter. Smith Chas P & Associates PA Cpas increased its holdings in ExxonMobil by 24.1% in the 4th quarter. Smith Chas P & Associates PA Cpas now owns 22,017 shares of the oil and gas company's stock worth $2,650,000 after acquiring an additional 4,273 shares during the last quarter. Barry Investment Advisors LLC increased its holdings in ExxonMobil by 3.7% in the 4th quarter. Barry Investment Advisors LLC now owns 6,410 shares of the oil and gas company's stock worth $771,000 after acquiring an additional 229 shares during the last quarter. Finally, Severin Investments LLC increased its holdings in ExxonMobil by 60.2% in the 4th quarter. Severin Investments LLC now owns 7,336 shares of the oil and gas company's stock worth $883,000 after acquiring an additional 2,757 shares during the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

ExxonMobil Stock Performance

Shares of XOM opened at $147.80 on Thursday. The company has a market cap of $612.63 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 0.65 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 stock has a 50-day moving average price of $155.51 and a 200-day moving average price of $139.90. ExxonMobil Corporation has a 12-month low of $101.18 and a 12-month high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. The company had revenue of $83.16 billion for the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.ExxonMobil's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.76 EPS. As a group, equities analysts forecast that ExxonMobil Corporation will post 11.49 earnings per share for the current fiscal year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be paid a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Friday, May 15th. ExxonMobil's payout ratio is 69.48%.

Insider Buying and Selling

In other ExxonMobil news, VP Darrin L. Talley sold 2,150 shares of ExxonMobil stock in a transaction that occurred 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 transaction, the vice president directly owned 18,204 shares of the company's stock, valued at $2,872,955.28. The trade was a 10.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Scotiabank lifted their price objective on ExxonMobil from $128.00 to $163.00 and gave the stock a "sector outperform" rating in a report on Wednesday, April 22nd. Piper Sandler cut their target price on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating for the company in a research note on Thursday, April 9th. BMO Capital Markets restated a "market perform" rating and issued a $155.00 target price on shares of ExxonMobil in a research note on Wednesday, February 4th. Jefferies Financial Group raised their target price on ExxonMobil from $178.00 to $184.00 and gave the stock a "buy" rating in a research note on Thursday, April 9th. Finally, Sanford C. Bernstein cut their target price on ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a research note on Monday, May 11th. Ten investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, ExxonMobil currently has a consensus rating of "Hold" and an average price target of $165.55.

More ExxonMobil News

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil shareholders approved the company’s plan to reincorporate in Texas, which could give XOM a more corporate-friendly legal setup and greater strategic flexibility. Reuters: Exxon wins shareholder backing for legal move to Texas
• Positive Sentiment: The Texas move also signals strong shareholder support for management’s agenda, reinforcing ExxonMobil’s focus on operational and legal advantages that may help long-term shareholder value. Yahoo Finance: ExxonMobil wins decisive backing to move corporate domicile to Texas
• Positive Sentiment: Exxon is also pursuing growth opportunities abroad, including seeking Guyana regulatory clearance for its ninth Stabroek development, which could add to future production if approved. Zacks: ExxonMobil Seeks Guyana EPA Clearance for Ninth Stabroek Development
• Neutral Sentiment: Reuters reported Occidental Petroleum is taking a 10% stake in Exxon’s deepwater Trinidad and Tobago block, which may support project economics but is not likely to move the stock on its own. Reuters: Occidental takes 10% stake in Exxon deepwater block offshore Trinidad, sources say
• Negative Sentiment: Energy stocks fell broadly as oil prices weakened, and that sector-wide decline is pressuring ExxonMobil shares despite the company-specific positives. Yahoo Finance: Sector Update: Energy Stocks Fall Late Afternoon
• Negative Sentiment: Investor caution also rose after reports that U.S.-Iran talks were “proceeding nicely,” which eased fears of supply disruption and pushed oil lower, a headwind for XOM. Stocktwits: USO, UCO, BATL, XOM Slip...

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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