Millennium Capital Advisors LLC Invests $1.27 Million in ExxonMobil Corporation $XOM

Key Points

• Millennium Capital Advisors opened a new position in ExxonMobil during the fourth quarter, buying 10,527 shares valued at about $1.27 million. The stake represents 0.7% of its portfolio and ranks as its 29th-largest holding.
• ExxonMobil posted better-than-expected quarterly results, with earnings of $1.16 per share on revenue of $83.16 billion, and analysts still expect the company to earn 11.5 EPS for the current year. The company also declared a $1.03 quarterly dividend, equal to an annualized yield of about 2.6%.
• Recent developments around the stock were mostly positive, including support from higher oil prices, a jury verdict clearing ExxonMobil in a long-running investor lawsuit, and resumed drilling in Guyana’s Canje block. Some caution remains after Bernstein trimmed its price target and investors raised concerns about Exxon’s planned move to Texas.

Millennium Capital Advisors LLC bought a new position in ExxonMobil Corporation (NYSE:XOM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,527 shares of the oil and gas company's stock, valued at approximately $1,267,000. ExxonMobil makes up 0.7% of Millennium Capital Advisors LLC's portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also modified their holdings of the business. Canada Post Corp Registered Pension Plan boosted its holdings in shares of ExxonMobil by 22.1% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 169,962 shares of the oil and gas company's stock worth $20,453,000 after acquiring an additional 30,789 shares in the last quarter. 626 Financial LLC boosted its holdings in shares of ExxonMobil by 3.5% in the 4th quarter. 626 Financial LLC now owns 4,066 shares of the oil and gas company's stock worth $489,000 after acquiring an additional 136 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of ExxonMobil by 0.7% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 1,152,267 shares of the oil and gas company's stock worth $138,664,000 after acquiring an additional 7,517 shares in the last quarter. O Brien Greene & Co. Inc boosted its holdings in shares of ExxonMobil by 24.8% in the 4th quarter. O Brien Greene & Co. Inc now owns 4,529 shares of the oil and gas company's stock worth $545,000 after acquiring an additional 900 shares in the last quarter. Finally, WealthPlan Investment Management LLC lifted its holdings in ExxonMobil by 179.8% during the 4th quarter. WealthPlan Investment Management LLC now owns 97,326 shares of the oil and gas company's stock worth $11,712,000 after buying an additional 62,544 shares in the last quarter. 61.80% of the stock is owned by institutional investors and hedge funds.

Key ExxonMobil News

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

ExxonMobil Stock Performance

XOM stock opened at $157.72 on Friday. The business's fifty day moving average is $155.05 and its 200-day moving average is $137.45. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The company has a market cap of $653.72 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 0.69 and a beta of 0.19. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.76 EPS. Equities research analysts forecast that ExxonMobil Corporation will post 11.5 EPS for the current year.

ExxonMobil Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.6%. ExxonMobil's dividend payout ratio is 69.48%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on XOM. Bank of America upped their price objective on ExxonMobil from $135.00 to $151.00 and gave the stock a "neutral" rating in a report on Monday, March 2nd. BMO Capital Markets reaffirmed a "market perform" rating and set a $155.00 price objective on shares of ExxonMobil in a report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price objective on ExxonMobil from $140.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, April 9th. Piper Sandler reduced their price objective on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a report on Thursday, April 9th. Finally, BNP Paribas Exane set a $165.00 price objective on ExxonMobil and gave the stock a "neutral" rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, ExxonMobil currently has a consensus rating of "Moderate Buy" and an average target price of $163.95.

Insider Buying and Selling at ExxonMobil

In other news, VP Darrin L. Talley sold 2,150 shares of the 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 transaction, the vice president owned 18,204 shares of the company's stock, valued at $2,872,955.28. This represents a 10.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.

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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