Summit Wealth Partners LLC Purchases 4,493 Shares of ExxonMobil Corporation $XOM

Summit Wealth Partners LLC lifted its holdings in ExxonMobil Corporation (NYSE:XOM) by 227.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,471 shares of the oil and gas company’s stock after buying an additional 4,493 shares during the period. Summit Wealth Partners LLC’s holdings in ExxonMobil were worth $1,098,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SWP Financial LLC bought a new position in ExxonMobil in the 1st quarter valued at $211,000. Verde Capital Management bought a new stake in shares of ExxonMobil during the 1st quarter worth $222,000. AGP Franklin LLC purchased a new position in shares of ExxonMobil in the 1st quarter worth about $260,000. Sterneck Capital Management LLC bought a new position in ExxonMobil during the first quarter valued at about $212,000. Finally, Telos Capital Management Inc. grew its position in ExxonMobil by 0.6% during the first quarter. Telos Capital Management Inc. now owns 24,020 shares of the oil and gas company’s stock valued at $4,075,000 after buying an additional 133 shares during the period. 61.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on XOM. Jefferies Financial Group lifted their price objective on shares of ExxonMobil from $178.00 to $184.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. HSBC raised their price target on shares of ExxonMobil from $135.00 to $158.00 and gave the stock a “hold” rating in a research note on Friday, March 20th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $180.00 price objective on shares of ExxonMobil in a research note on Tuesday, May 5th. Scotiabank increased their price objective on ExxonMobil from $128.00 to $163.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Finally, Citigroup raised their target price on ExxonMobil from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. Eleven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $165.70.

Key Headlines Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: The U.S. Supreme Court ruled in ExxonMobil’s favor in a long-running lawsuit over property confiscated by Cuba, reviving Exxon’s ability to seek compensation and potentially strengthening its legal position in the case. Reuters article
• Positive Sentiment: Commentary highlighted ExxonMobil as one of the energy names that may hold up well if the broader market weakens, reinforcing its reputation as a defensive, dividend-paying stock. Yahoo Finance article
• Positive Sentiment: Analyst coverage noted that Exxon’s upstream business could benefit from strong oil prices, with Permian and Guyana assets supporting production growth and earnings. Zacks article
• Neutral Sentiment: ExxonMobil reportedly applied to expand its footprint in Guyana, a strategic move that could support longer-term growth but does not appear to be an immediate catalyst. Yahoo Finance article
• Negative Sentiment: The stock moved lower alongside weaker crude prices, as oil fell to its lowest level since the start of the Iran conflict, which can weigh on upstream earnings expectations for ExxonMobil. Yahoo Finance article
• Negative Sentiment: Investors also reacted to news that President Trump said the Justice Department is probing ExxonMobil and other oil companies over elevated natural gas prices, adding regulatory overhang to the shares. Reuters article

ExxonMobil Stock Down 2.1%

ExxonMobil stock opened at $136.86 on Thursday. The firm has a market capitalization of $567.27 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 0.59 and a beta of 0.16. The firm has a 50 day simple moving average of $149.08 and a 200 day simple moving average of $143.87. ExxonMobil Corporation has a 1-year low of $105.53 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.

ExxonMobil (NYSE:XOM) last posted its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.18. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The firm had revenue of $83.16 billion during the quarter, compared to analyst estimates of $81.13 billion. During the same period last year, the company earned $1.76 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, analysts predict that ExxonMobil Corporation will post 11.86 earnings per share for the current year.

ExxonMobil Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio is presently 69.48%.

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.