Symphony Financial Ltd. Co. Has $8.82 Million Stock Holdings in ExxonMobil Corporation $XOM

Key Points

• Symphony Financial reduced its ExxonMobil position by 12% in the second quarter, selling 8,849 shares and retaining 64,807 shares valued at approximately $8.82 million. ExxonMobil represents about 1% of the fund’s portfolio.
• Analysts maintain a generally cautious outlook, with a consensus rating of “Hold” and an average price target of $166.10. ExxonMobil recently reported $3.52 in quarterly EPS, slightly below estimates, while revenue exceeded expectations.
• ExxonMobil declared a quarterly dividend of $1.03 per share, equivalent to an annualized $4.12 payout and a 2.5% yield. Potential growth catalysts include a possible return to Venezuela, higher oil prices, and a reported bid for Shell’s U.S. chemicals assets.

Symphony Financial Ltd. Co. decreased its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 12.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 64,807 shares of the oil and gas company's stock after selling 8,849 shares during the quarter. ExxonMobil accounts for approximately 1.0% of Symphony Financial Ltd. Co.'s holdings, making the stock its 26th biggest holding. Symphony Financial Ltd. Co.'s holdings in ExxonMobil were worth $8,822,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Aventus Investment Advisors Inc. acquired a new position in shares of ExxonMobil in the 2nd quarter worth approximately $27,000. Portus Wealth Advisors LLC acquired a new stake in ExxonMobil during the 1st quarter valued at $36,000. Berbice Capital Management LLC bought a new position in ExxonMobil in the 4th quarter valued at $26,000. E Fund Management Hong Kong Co. Ltd. raised its position in ExxonMobil by 456.1% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 187 shares during the last quarter. Finally, Atlantic Private Wealth LLC boosted its stake in ExxonMobil by 776.9% in the first quarter. Atlantic Private Wealth LLC now owns 228 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company's stock.

Wall Street Analyst Weigh In

XOM has been the subject of a number of research reports. Citigroup restated a "neutral" rating on shares of ExxonMobil in a research note on Wednesday, July 8th. UBS Group set a $168.00 price target on shares of ExxonMobil in a research report on Friday, August 7th. Zacks Research lowered shares of ExxonMobil from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Freedom Capital raised shares of ExxonMobil from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, Mizuho lowered their price target on shares of ExxonMobil from $175.00 to $170.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Ten analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $166.10.

ExxonMobil Price Performance

ExxonMobil stock opened at $164.55 on Wednesday. The business's 50-day simple moving average is $151.47 and its 200 day simple moving average is $152.01. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.12. The stock has a market cap of $682.05 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 0.99 and a beta of 0.17. ExxonMobil Corporation has a 12-month low of $108.35 and a 12-month high of $176.41.

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). ExxonMobil had a return on equity of 13.14% and a net margin of 8.88%.The firm had revenue of $114.53 billion for the quarter, compared to the consensus estimate of $109.94 billion. During the same period in the prior year, the firm posted $1.64 earnings per share. As a group, research analysts anticipate that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 17th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 17th. ExxonMobil's payout ratio is 53.02%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Potential return to Venezuela: President Donald Trump said ExxonMobil is among the companies preparing to enter Venezuela, potentially giving XOM access to large oil reserves and a long-term production opportunity after its exit from the country in 2007. The company reportedly sent a technical team to evaluate opportunities earlier this year. Trump says Exxon is going in Venezuela
• Positive Sentiment: Higher oil prices are supporting the sector: Renewed conflict involving Iran and ongoing shipping constraints around the Strait of Hormuz pushed crude prices higher, improving the near-term earnings outlook for integrated producers such as ExxonMobil. Energy stocks and related ETFs advanced alongside the commodity rally. Oil prices rise amid Iran conflict
• Positive Sentiment: Possible chemicals expansion: ExxonMobil is reportedly among bidders for Shell’s U.S. chemicals assets, potentially for about $8 billion. Acquiring the plants could deepen XOM’s chemicals presence, although the purchase price and returns remain uncertain. ExxonMobil bid for Shell chemicals assets

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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