Destination Wealth Management Has $4.06 Million Stake in ExxonMobil Corporation $XOM

Destination Wealth Management boosted its holdings in shares of ExxonMobil Corporation (NYSE:XOM) by 24.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,708 shares of the oil and gas company’s stock after buying an additional 6,646 shares during the quarter. Destination Wealth Management’s holdings in ExxonMobil were worth $4,056,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Berbice Capital Management LLC acquired a new position in ExxonMobil during the fourth quarter worth $26,000. Midwest Capital Advisors LLC acquired a new position in ExxonMobil during the fourth quarter worth $27,000. E Fund Management Hong Kong Co. Ltd. increased its position in ExxonMobil by 456.1% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 228 shares of the oil and gas company’s stock worth $27,000 after buying an additional 187 shares during the last quarter. Key Capital Management INC acquired a new position in ExxonMobil during the fourth quarter worth $28,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in ExxonMobil during the fourth quarter worth $32,000. 61.80% of the stock is owned by institutional investors and hedge funds.

ExxonMobil Trading Up 0.1%

Shares of NYSE:XOM opened at $146.80 on Friday. The company has a market cap of $608.47 billion, a P/E ratio of 24.76, a P/E/G ratio of 0.62 and a beta of 0.16. The stock’s 50-day moving average is $152.09 and its 200-day moving average is $142.36. ExxonMobil Corporation has a 52-week low of $105.53 and a 52-week high of $176.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.77 and a current ratio of 1.04.

ExxonMobil (NYSE:XOM) last issued its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business posted $1.76 earnings per share. Equities research analysts predict that ExxonMobil Corporation will post 11.8 earnings per share for the current year.

ExxonMobil Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 15th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil’s dividend payout ratio (DPR) is currently 69.48%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: Analysts at Erste Group Bank raised their earnings estimates for ExxonMobil, signaling confidence in the company’s profit outlook and providing a supportive fundamental backdrop for the stock.
• Positive Sentiment: Reports that ExxonMobil is exploring potential acquisition targets, including Australia’s Woodside Energy Group, suggest management may be looking to expand its natural gas footprint and pursue growth through M&A. Article: Exxon Mobil evaluates potential buyout of Australia Woodside Energy, Bloomberg News reports
• Positive Sentiment: Investor commentary describing ExxonMobil as a “constructive” value idea, along with articles highlighting its low debt and ability to handle business uncertainty, points to continued appeal as a defensive energy name.
• Positive Sentiment: Broader energy stocks were higher late Friday, which likely lifted ExxonMobil along with the sector. Article: Sector Update: Energy Stocks Higher Late Afternoon
• Neutral Sentiment: Reuters and other outlets also reported that ExxonMobil’s head of global trading is set to retire, but the move looks more like a routine leadership change than a major business disruption. Article: Exxon Mobil set to place Alex Volkov as head of global trading, sources say
• Neutral Sentiment: Articles noting ExxonMobil’s strong one-year share gains may reinforce the stock’s valuation debate, but they are unlikely to be the main driver of near-term trading.
• Negative Sentiment: Exxon’s planned work at its Beaumont, Texas complex could create temporary operational noise, though the notice did not suggest a major outage or earnings issue. Article: Exxon plans work at Beaumont, Texas complex, says online notice

Insider Activity

In other news, VP Darrin L. Talley sold 1,080 shares of the firm’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $155.50, for a total value of $167,940.00. Following the sale, the vice president directly owned 17,124 shares of the company’s stock, valued at approximately $2,662,782. This trade represents a 5.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Royal Bank Of Canada reissued a “sector perform” rating and set a $180.00 target price on shares of ExxonMobil in a research report on Tuesday, May 5th. BNP Paribas Exane set a $165.00 target price on shares of ExxonMobil and gave the stock a “neutral” rating in a research report on Friday, April 17th. Weiss Ratings downgraded shares of ExxonMobil from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Wells Fargo & Company increased their target price on shares of ExxonMobil from $183.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, UBS Group raised their price target on ExxonMobil from $171.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Ten investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, ExxonMobil presently has a consensus rating of “Hold” and a consensus price target of $165.55.

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.