Moran Wealth Management LLC Sells 7,127 Shares of ExxonMobil Corporation $XOM

Key Points

• Moran Wealth Management cut its ExxonMobil stake by 8.7% in the first quarter, selling 7,127 shares and leaving it with 74,525 shares worth about $12.6 million.
• ExxonMobil reported better-than-expected quarterly earnings, with EPS of $1.16 versus estimates of $0.98 and revenue of $83.16 billion, topping consensus forecasts.
• The company also paid a quarterly dividend of $1.03 per share, equal to an annualized yield of 2.9%, while analysts currently have a “Moderate Buy” consensus with an average price target of $164.70.

Moran Wealth Management LLC lowered its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 74,525 shares of the oil and gas company's stock after selling 7,127 shares during the period. Moran Wealth Management LLC's holdings in ExxonMobil were worth $12,644,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC lifted its position in shares of ExxonMobil by 6.6% in the fourth quarter. Capital Investment Advisors LLC now owns 231,488 shares of the oil and gas company's stock worth $27,857,000 after buying an additional 14,233 shares during the last quarter. Roberts Capital Advisors LLC acquired a new position in shares of ExxonMobil during the 3rd quarter valued at about $1,240,000. Sanctuary Advisors LLC increased its holdings in shares of ExxonMobil by 2.3% during the 4th quarter. Sanctuary Advisors LLC now owns 1,048,409 shares of the oil and gas company's stock valued at $126,166,000 after acquiring an additional 23,668 shares during the last quarter. Clear Trail Advisors LLC bought a new position in shares of ExxonMobil in the 4th quarter valued at approximately $28,728,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of ExxonMobil in the 3rd quarter valued at approximately $67,907,000. Institutional investors own 61.80% of the company's stock.

ExxonMobil Price Performance

Shares of NYSE:XOM opened at $140.91 on Thursday. The company has a market cap of $584.07 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 0.61 and a beta of 0.17. The business has a 50 day moving average price of $146.80 and a 200 day moving average price of $145.28. The company has a quick ratio of 0.77, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. ExxonMobil Corporation has a twelve month low of $105.53 and a twelve month high of $176.41.

ExxonMobil (NYSE:XOM - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The company had revenue of $83.16 billion for the quarter, compared to the consensus estimate of $81.13 billion. During the same period in the previous year, the business posted $1.76 EPS. The company's revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts predict that ExxonMobil Corporation will post 11.64 earnings per share for the current year.

ExxonMobil Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. ExxonMobil's payout ratio is 69.48%.

ExxonMobil News Roundup

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil signaled that higher oil prices could lift second-quarter upstream earnings by $3.5 billion to $3.9 billion, reinforcing expectations for a strong Q2 profit beat. Exxon Mobil signals higher second-quarter earnings
• Positive Sentiment: Crude prices jumped after U.S. strikes on Iranian targets and the collapse of the cease-fire backdrop, which tends to boost integrated oil producers like ExxonMobil through stronger upstream margins. Oil Prices Jump After U.S. Strikes Kharg Island, Trump Says Cease-Fire Is ‘Over’
• Positive Sentiment: ExxonMobil and partners will invest $1 billion in Nigeria’s Usan offshore project, expected to add 40,000 barrels per day of production, supporting longer-term output growth. ExxonMobil to invest $1 billion in Nigeria's oilfield, regulator says

Analysts Set New Price Targets

A number of brokerages have issued reports on XOM. Citigroup reaffirmed a "neutral" rating on shares of ExxonMobil in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of ExxonMobil from $140.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. UBS Group boosted their price objective on shares of ExxonMobil from $171.00 to $174.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Finally, TD Cowen lowered their target price on shares of ExxonMobil from $172.00 to $155.00 and set a "buy" rating on the stock in a research note on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $164.70.

ExxonMobil Company 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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