WealthPlan Investment Management LLC Buys 62,544 Shares of ExxonMobil Corporation $XOM

Key Points

• WealthPlan Investment Management increased its ExxonMobil stake by 179.8% in the fourth quarter, buying 62,544 additional shares and bringing its total holdings to 97,326 shares worth about $11.7 million.
• ExxonMobil’s recent business and legal updates were mostly positive: high oil prices, stronger Permian and Guyana production, and a favorable jury verdict in a long-running investor lawsuit could support sentiment and earnings.
• The company reported better-than-expected quarterly results, with EPS of $1.16 vs. $0.98 expected and revenue of $83.16 billion, while also declaring a quarterly dividend of $1.03 per share for a 2.6% yield.

WealthPlan Investment Management LLC lifted its stake in shares of ExxonMobil Corporation (NYSE:XOM - Free Report) by 179.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,326 shares of the oil and gas company's stock after purchasing an additional 62,544 shares during the quarter. WealthPlan Investment Management LLC's holdings in ExxonMobil were worth $11,712,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in XOM. Peoples Bank OH lifted its stake in shares of ExxonMobil by 0.5% in the fourth quarter. Peoples Bank OH now owns 14,993 shares of the oil and gas company's stock worth $1,804,000 after buying an additional 71 shares in the last quarter. Paulson Wealth Management Inc. lifted its stake in shares of ExxonMobil by 1.0% in the fourth quarter. Paulson Wealth Management Inc. now owns 7,368 shares of the oil and gas company's stock worth $887,000 after buying an additional 72 shares in the last quarter. MOKAN Wealth Management Inc. lifted its stake in shares of ExxonMobil by 1.3% in the fourth quarter. MOKAN Wealth Management Inc. now owns 5,903 shares of the oil and gas company's stock worth $711,000 after buying an additional 77 shares in the last quarter. Field & Main Bank lifted its stake in shares of ExxonMobil by 0.3% in the fourth quarter. Field & Main Bank now owns 23,393 shares of the oil and gas company's stock worth $2,815,000 after buying an additional 78 shares in the last quarter. Finally, Capstone Wealth Management LLC lifted its stake in shares of ExxonMobil by 3.1% in the fourth quarter. Capstone Wealth Management LLC now owns 2,606 shares of the oil and gas company's stock worth $314,000 after buying an additional 79 shares in the last quarter. Institutional investors own 61.80% of the company's stock.

ExxonMobil News Roundup

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 Up 3.2%

XOM opened at $157.72 on Friday. 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 firm has a 50 day moving average price of $155.05 and a 200-day moving average price of $137.45. ExxonMobil Corporation has a twelve month low of $101.18 and a twelve month high of $176.41. The stock has a market capitalization of $653.72 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 0.69 and a beta of 0.19.

ExxonMobil (NYSE:XOM - Get Free Report) last released its quarterly earnings data on Friday, May 1st. The oil and gas company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.18. ExxonMobil had a net margin of 7.57% and a return on equity of 10.24%. The firm had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The firm's quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts forecast that ExxonMobil Corporation will post 11.5 earnings per share for the current year.

ExxonMobil Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 15th will be given a $1.03 dividend. The ex-dividend date is Friday, May 15th. This represents a $4.12 annualized dividend and a yield of 2.6%. ExxonMobil's dividend payout ratio (DPR) is presently 69.48%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Sanford C. Bernstein decreased their price objective on shares of ExxonMobil from $195.00 to $182.00 and set an "outperform" rating for the company in a report on Monday, May 11th. Citigroup boosted their price objective on shares of ExxonMobil from $150.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, April 2nd. BMO Capital Markets reissued a "market perform" rating and set a $155.00 price objective on shares of ExxonMobil in a report on Wednesday, February 4th. Royal Bank Of Canada reissued a "sector perform" rating and set a $180.00 price objective on shares of ExxonMobil in a report on Tuesday, May 5th. Finally, Jefferies Financial Group boosted their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the company a "buy" rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, ExxonMobil currently 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 2,150 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were 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 in the company, valued at approximately $2,872,955.28. This trade represents a 10.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.03% of the company's stock.

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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