Meridian Wealth Management LLC Lowers Holdings in ExxonMobil Corporation $XOM

Key Points

• Meridian Wealth Management trimmed its ExxonMobil stake by 1.5% in the fourth quarter, selling 10,399 shares and ending with 676,521 shares valued at about $81.4 million.
• Analysts remain mixed but generally constructive on ExxonMobil, with a consensus “Moderate Buy” rating and an average price target of $163.95. Recent target changes ranged from Bank of America’s $151 to Wells Fargo’s $185.
• ExxonMobil reported better-than-expected Q1 results, earning $1.16 per share on revenue of $83.16 billion, and it also declared a quarterly dividend of $1.03 per share, implying a 2.8% annual yield.

Meridian Wealth Management LLC decreased its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 676,521 shares of the oil and gas company's stock after selling 10,399 shares during the quarter. ExxonMobil accounts for approximately 2.9% of Meridian Wealth Management LLC's holdings, making the stock its 6th biggest holding. Meridian Wealth Management LLC's holdings in ExxonMobil were worth $81,413,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Midwest Capital Advisors LLC bought a new stake in shares of ExxonMobil in the 4th quarter worth about $27,000. Key Capital Management INC acquired a new position in ExxonMobil during the 4th quarter worth about $28,000. Nvest Wealth Strategies Inc. acquired a new position in ExxonMobil during the 4th quarter worth about $32,000. DecisionPoint Financial LLC lifted its position in ExxonMobil by 968.0% during the 4th quarter. DecisionPoint Financial LLC now owns 267 shares of the oil and gas company's stock worth $32,000 after buying an additional 242 shares in the last quarter. Finally, Westfuller Advisors LLC acquired a new position in ExxonMobil during the 3rd quarter worth about $30,000. Institutional investors own 61.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on XOM shares. Bank of America upped their price target on shares of ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a research report on Monday, March 2nd. Piper Sandler reduced their price target on shares of ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Wells Fargo & Company upped their price target on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $180.00 price target on shares of ExxonMobil in a research report on Tuesday, May 5th. Finally, Zacks Research upgraded shares of ExxonMobil from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, ExxonMobil presently has a consensus rating of "Moderate Buy" and an average price target of $163.95.

Insiders Place Their Bets

In other ExxonMobil news, VP Darrin L. Talley sold 1,080 shares of the business's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total transaction of $167,940.00. Following the completion of the sale, the vice president directly owned 17,124 shares of the company's stock, valued at approximately $2,662,782. The trade was a 5.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.03% of the company's stock.

ExxonMobil Stock Performance

Shares of NYSE:XOM opened at $149.44 on Tuesday. The stock has a market capitalization of $619.41 billion, a P/E ratio of 25.20, a P/E/G ratio of 0.63 and a beta of 0.19. ExxonMobil Corporation has a 1-year low of $101.18 and a 1-year high of $176.41. 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 business has a 50-day moving average price of $154.96 and a two-hundred day moving average price of $136.54.

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, topping the consensus estimate of $0.98 by $0.18. The firm had revenue of $83.16 billion during 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%.The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 EPS. Equities analysts predict that ExxonMobil Corporation will post 11.45 earnings per share for the current year.

ExxonMobil Dividend Announcement

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

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Oil-market disruption risks tied to Middle East conflict and supply shortages could keep crude prices elevated, which would likely support ExxonMobil’s cash flow and earnings. Fuel Shortages Could Hit This Summer and Oil Execs Say Recovery Is Months Away. 3 Stocks to Own While It Lasts.
• Positive Sentiment: Analyst discussion from Exxon’s Q1 earnings call highlighted strong operational execution, including higher production in the Permian and Guyana, helping offset geopolitical and weather-related disruptions. The 5 Most Interesting Analyst Questions From ExxonMobil’s Q1 Earnings Call
• Positive Sentiment: Reports that Exxon is weighing a potential reentry into Venezuela suggest optionality for future production growth if policy and investment conditions improve. Exxon Mobil Weighs Venezuela Reentry Against Valuation And Dividend Concerns
• Neutral Sentiment: ExxonMobil is approaching an ex-dividend date, which may appeal to income investors but is not a major fundamental catalyst on its own. Income Investors Should Know That Exxon Mobil Corporation NYSE: XOM Goes Ex-Dividend Soon
• Neutral Sentiment: Commentary about a potential oil-shock scenario and higher crude prices reinforces the broader bullish energy setup, but it is more macro-focused than company-specific. The Zacks Analyst Blog Micron, Exxon and RWE AG
• Negative Sentiment: Some coverage noted valuation and dividend concerns around a Venezuela reentry, suggesting investors may question whether the opportunity justifies the risks. Exxon Mobil Weighs Venezuela Reentry Against Valuation And Dividend Concerns

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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